Maersk announces preliminary Q2 revenue of US$12.8 billion
Based on preliminary figures, AP Moller – Maersk reports an unaudited revenue of US$12.8 billion, underlying EBITDA of US$2.1 billion and underlying EBIT of US$756 million (reported EBIT of US$963 million) for the second quarter of 2024. Due to the continued supply chain disruption caused by the situation in the Red Sea, which is now […]
CMA CGM completes sale of Bolloré Logistics’ operations in French Overseas Territories
The CMA CGM Group has completed the sale of 100% of subsidiary Bolloré Logistics’ activities in Guadeloupe, Martinique, Saint-Martin, French Guiana, and Polynesia to the Balguerie Group. The Marseille-headquartered shipping giant was required to sell operations in the French Overseas Territories by the European Commission and the Polynesian Competition Authority as part of the conditions […]
United goes with Neste for SAF at O’Hare
Finland-based sustainable fuels supplier Neste is to provide up to 1m gallons (3,000 metric tons) of Neste MY Sustainable Aviation Fuel (SAF) to United Airlines for use at Chicago O’Hare International Airport in the period up to the end of this year. United is the first airline to purchase SAF for operational use for flights […]
Menzies opts for CHAMP Cargosystems’ Traxon technology
Ground handler Menzies Aviation has chosen CHAMP Cargosystems’ Traxon Global Customs (TGC) solution to provide a standard platform to deliver its customs fulfilment processes. TGS helps with the processing of import, export and transit controls. It will be embedded and integrated into the recently launched Menzies Aviation’s Cargo Handling (MACH) cargo management system. TGC was […]
Xeneta: strong demand for air cargo drives higher spot rates
The quicker than expected recovery to July’s global IT outage meant that there was no significant ongoing disruption to rates amidst ongoing strong demand for air cargo, according to the latest market analysis from Xeneta. Airfreight rates rose for a sixth consecutive month, with global average air cargo spot rates reaching $2.66 per kg in […]
ONE reports US$4.2 billion revenue in Q1 FY2024
Ocean Network Express (ONE) released its financial results for the first quarter of FY2024, covering April to June 2024. The revenue for this quarter was US$4.211 billion, representing a 12% increase from the same period last year, with a net profit of US$779 million, an increase of US$266 million year-over-year. Cargo movements improved due to […]
Irish Defence Forces orders Konecranes equipment
In early 2024, the Irish Defence Forces placed an order for a Konecranes E-VER electric forklift to handle containers and general cargo at their main Logistics Hub in Curragh Camp, Co Kildare, Ireland. The forklift is scheduled for delivery in the third quarter of 2024. “This order proves that the E-VER’s rugged strength and reliability will […]
Ocean container shipping market reaches a tipping point: Xenetal Analysis
The ocean container shipping market reached a tipping point in July, with long-term rates on major fronthaul trades showing signs of life just as spiralling short-term rates begin to soften. The Xeneta Global XSI®, which covers all valid long-term contracts in the market, edged up 2.5% in July to stand at 151.5 points. More notably, […]
OceanScore inaugurates new office in Singapore
OceanScore has opened a new office in Singapore to serve its regional clients, responding to the growing demand in Asia for its digital solutions designed for efficient regulatory compliance with the EU ETS and FuelEU Maritime. This new office in Singapore represents the latest expansion for the Hamburg-based maritime technology company, which already has offices […]
MPA Singapore partners with Microsoft
The Maritime and Port Authority of Singapore (MPA) signed a memorandum of understanding (MoU) with Microsoft on 29 July to collaborate in innovative technologies including cloud computing, artificial intelligence (AI), data analytics, robotics, and cybersecurity. The two partners aim to support the adoption and the development of digital and green solutions for the maritime industry. […]