Maersk delivers third-strongest financial performance in its history
A.P. Moller-Maersk delivered strong financial results in 2024, achieving growth across all segments and significantly improving profitability. The company’s earnings before interest and taxes (EBIT) surged by 65% to US$6.5 billion, driven by higher container demand, elevated freight rates in the ocean sector, top-line and volume growth in the terminals segment, and solid performance in […]
Fugro buys German satellite earth observation firm
Dutch surveyor Fugro has acquired German firm EOMAP, a company which uses satellite earth observation for mapping and monitoring marine and freshwater environments. EOMAP has been pioneering this technology since 2006. The company has recorded a revenue of around €5m ($5.2m) for 2024. According to Fugro, the market for earth observation solutions is growing due […]
US tariff wars are “all about China”
Donald Trump’s instigation of a second trade war with America’s key trading partners is all about stopping China, according to maritime analyst Xeneta. This content is locked Select a CN Premium Subscription Package To Unlock The Content! Remember Me Lost your password? Don’t have an account? Register If you liked this post, please consider donating5€10€20€50€ […]
Hapag-Lloyd applies new rates from North Europe to America
German ocean carrier Hapag-Lloyd has announced a new Peak Season Surcharge (PSS) from North Europe to the United States, Canada and Mexico. The new surcharge will be effective from 2 March and will be valid until further notice. The PSS will apply to dry and reefer boxes, as well as high cube and special containers. […]
Denmark takes next step in shadow fleet crackdown
Denmark has taken its next step in cracking down on Russian-linked shadow tankers passing through its waters The Danish Maritime Authority will carry out port state controls on tankers it deems high risk who anchor off Skagen in the far north of the country, a popular anchorage. Ships found with safety defects or not having […]
Russia’s Panda Express Line expands paw print to South China
Russian liner Panda Express Line is expanding its scope of services to cover South China. According to Alphaliner, the Panda Express Line-3 will deploy two sub 2,000 teu ships to connect Vladivostok with the southern Chinese ports of Nansha, Shenzhen, and Xiamen. Panda Express Line kicked off operations in late 2022, one of a host […]
Shanghai handles more than 5m teu in just one month
Evidence of just how busy China has been pumping products to consumers ahead of Donald Trump’s tariffs comes from Shanghai, the world’s busiest container port, with news the financial metropolis handled more than 5m teu in January, a record amount that puts it on track for another landmark year. Putting the monthly record in perspective, […]
Maersk commences $2bn share buyback program
Cash-rich Maersk revealed yesterday it has started a 12-month share buyback program of up to DKK14.4bn ($2.01bn). The purpose of the program is to adjust the capital structure of the company ultimately through the cancellation of shares repurchased, Maersk stated in a release. The Danish liner is nearing the end of its first week in […]
Baltic Exchange enters the chemical tanker market
The Baltic Exchange has launched a new series of chemical and agricultural oil assessments. The Baltic Chemical and Agricultural Oil Assessments (BCAA) will be produced on a weekly basis from this month to go alongside its existing dry bulk, tanker, gas, container and air freight data. The BCAA will offer insights into a series of […]
New LPG export terminal teed up in Texas
Midstream players ONEOK and MPLX will build a new 400,000 barrel per day liquefied petroleum gas (LPG) export terminal in Texas City, on the Gulf Coast which will also feature a pipeline connecting to ONEOK’s storage facility in Mont Belvieu, Texas. The $1.4bn export terminal will be known as Texas City Logistics and ONEOK and […]