The parent of container liner operator Maersk turned in quarterly revenue and profits higher than a year ago as attacks on Mideast shipping led to higher operating costs – and higher rates for shippers.
The parent of Maersk container line said strong demand for shipping services and higher ocean freight rates fueled growth across all businesses as it raised estimates for full-year results.
Strong third-quarter volumes have the world’s second-largest ocean container line upgrading its forecast for higher full-year returns.
Maersk has taken over a major logistics function in the United States on behalf of Levi Strauss, feeding merchandise to the retailer’s stores and filling online orders.
President Joe Biden broke his silence Tuesday on the port labor dispute by backing the striking dockworkers.
The White House is getting pressure from Congress to relieve tension on the waterfront after Biden pledged not to get involved.
Continued robust demand for container shipping services could help balance supply and demand, the world’s second-largest vessel operator said, easing strains despite disruptions across the global supply chain.
This week in Borderlands: Wiliot chatbot would like a word about food supply chain safety; Maersk opens logistics warehouse in El Paso; Stotland Trucking expands operations in Texas; and Continental Tire plans $87M Fort Worth production facility.
The airline subsidiaries of ocean lines CMA CGM and Maersk are offering service from China to Northern Europe and the U.S., respectively.
A feasibility study of nuclear-powered container ships to lower emissions teams Maersk, the world’s second-largest container line, with vessel classification society Lloyd’s Register and nuclear power specialist Core Power.
Digital freight forwarder Flexport has appointed Trine Nielsen as global head of ocean freight.
The U.S.-flag subsidiary of shipping leviathan Maersk has agreed to a settlement with the U.S. government over the termination of a seaman who alerted authorities to potential unsafe conditions on a cargo vessel.without first notifying the company.
Maersk Air Cargo will operate its first Boeing 777 freighter between Denmark and China.
Maersk has ambitious plans for its dedicated cargo airline to become a major piece of its integrated logistics service, alongside its ocean container business.
The International Longshoremen’s Association is in a contract dispute with ocean carriers over wage increases and use of automation.
Logistics real estate operator Prologis and Maersk subsidiary, Performance Team, launch a 96-truck electric charging station in Southern California.
Maersk is pursuing its air cargo ambitions with a new freight station in Miami and its first two Boeing 777 freighters.
The MV Dali container ship that caused the collapse of the Francis Scott Key Bridge in Baltimore was involved in a collision in 2016.
Maersk teamed up with FreightWaves to better understand how shippers are navigating the current air cargo environment. The duo surveyed representatives of a wide range of companies about their experience over the past year, as well as their expectations about the future.
This week in Borderlands: Echo Global Logistics grows cross-border footprint as trade booms; Maersk launches cross-border warehouse in Tijuana; Yokohama announces $380M tire plant in Mexico; and Legendz Way to open distribution center in North Texas.
Join FreightWaves and Maersk for a live webinar on Tuesday, April 23 at 10am SGT. The session will also be recorded for on-demand viewing.
How do you spend $41 billion without buying more ships?
Maersk has opted to bypass the drought-stricken Panama Canal and use rail to transport cargo across Panama.
White House spokesman John Kirby said shipping risks caused by the Middle East conflict could become a “pocketbook” issue for Americans.
Container-ship route diversions — first to avoid the Panama Canal, now to avoid Red Sea chaos — could help offset rate pressure from newbuilding deliveries.
Time is running out for container lines as contract rate renewal season nears and spot rates fail to recover.
“This is not a diet. This is a resetting of the baseline,” said Maersk CEO Vincent Clerc on his company’s job cuts.
The decision to prioritize technology in a business so reliant on people to cover loads and deal with exceptions is poignant in the wake of the past week’s events.
“AI-powered insights help customers take informed action, like seeking alternative suppliers, tracing their raw materials, identifying potential geographic concentrations and targeting risky supplier networks,” says Altana Technologies’ Amy Morgan.
Can Outrider hold onto its healthy lead in distribution yard autonomy as competition begins to form?
Inflation and economic fallout from the war are curbing demand just as a tidal wave of new ship supply hits the water.
This week in Borderlands: Mexico remained the top U.S. trade partner in July and Laredo was the No. 1 gateway; production and exports of Mexican-built trucks slipped in August; Maersk has teamed up with Fabric to open a Dallas e-commerce center; and a cargo checkpoint opens at a Texas border port of entry.
Unprecedented supply-demand imbalances amid the pandemic led to historic dividend payouts by container shipping lines.
Despite upgrading its full-year outlook, container shipping giant Maersk no longer sees a second-half demand rebound.
Requiring container ship operators to file an export policy would be too costly — and unlawful as well, carriers tell regulators.
Maersk Air Cargo is growing its small U.S. footprint with a cargo facility near the Atlanta airport.
Inventory destocking is the biggest container shipping headwind, says Maersk. Its data shows no evidence of inventory pressures alleviating yet.
This week in Borderlands: Production and exports of Mexican-built cargo trucks soared in March; Walmart is closing a logistics facility in Fort Worth, Texas; Target announced three distribution centers in Texas; and Maersk opened a global service center in Mexico City.
Maersk is rapidly expanding from a pure ocean carrier to a cargo airline. The latest move is the establishment of new routes between the U.S. and China.
Surging costs after Russia’s invasion of Ukraine could be a taste of things to come as shipping transitions to more expensive “green” fuels.
Shipping line Maersk has unveiled the latest expansion of its cargo airline with a new Eurasia route.
Quarterly net losses could be around the corner for container lines, but EBITDA will stay high even if carriers dip into the red.
Your latest info on all things in the cold chain world
Two container shipping experts give their take on how the hangover after the pandemic boom could play out.
Ocean carrier Maersk sees a rough second half of the year, when remaining support from contract rates “will disappear.”
Speculation is swirling on how the end of a global container shipping alliance will affect ocean carriers and cargo shippers.
Shipping services around the globe will be reconfigured after the top two carriers end their vessel-sharing agreement.
Inside this edition: designer brands relying more on 3PLs; Mexico gains another manufacturer; and more acquisitions.
The biggest container ships sailing on the oceans can carry more than 24,000 TEUs and are as tall as the Empire State Building.
Your latest info on all things in the cold chain world
The top 10 liner operators hiked aggregate capacity by 13% in 2000-22 and continue to control 85% of the global fleet.
Se espera que la iniciativa “verde y digital” reduzca los costos de la cadena de suministro y las emisiones de carbono
Shippers and carriers are increasing the pressure on ports and other supply chain participants to roll out “green corridors” using digital technology.
Earnings for Zim, the world’s 10th largest ocean carrier, peaked in the first quarter and continue to slide as rates fall.
Pilot Co. and Volvo Group move to keep public charging on pace with electric vehicle adoption as Prologis adds charging installations.
Einride will be building electric vehicle charging stations to support Maersk’s deployment of its E-truck, starting with a facility near the Port of Los Angeles.
Maersk’s guidance implies fourth-quarter earnings will plunge 39% compared to the third-quarter peak.
Maersk is a giant in the ocean shipping industry. It is also heavily investing to grow its all-cargo airline.
This week: J.B. Hunt launches a scholarship program for employee dependents and grandchildren, Maersk’s rainbow container is enjoyed by employees in Cape Town, South Africa, and Schneider receives its 14th Ride of Pride truck.
Maersk, a major container shipping line, is set to debut its U.S. air cargo service and has focused its resources on the Chicago area.
7,1 millones de TEUs en pedidos frente al anterior récord de 6,6 millones en 2008
Supply-demand dynamics that supercharged pandemic-era rates are now “exactly the opposite,” says Maersk CEO Soren Skou.
Senior executive says “strategic assets along the supply chain are a key part of Hapag-Lloyd’s Strategy 2023.”
Shipping line Maersk has completed the $3.6 billion takeover of Asian retail distribution specialist LF Logistics.
La adquisición de la unidad de Maersk por parte de CIMC habría combinado 2 fabricantes dominantes de contenedores refrigerados
The U.S. Justice Department on Thursday blew the whistle on the planned acquisition of a large container manufacturer by a Chinese company.
Trans-Pacific spot container shipping rates continue to head lower. Zim appears more at risk than some of its rivals.
Hapag-Lloyd bookings point to a gradual unwind of the container shipping boom, not a crash.
Maersk Air Cargo is preparing to start U.S. service that originates in South Korea.
Port congestion and voyage cancellations by shipping lines are preventing a steeper slide in spot container freight rates.
Los índices de transporte marítimo transpacífico de contenedores al contado de FBX han subido en la última semana
The South Carolina cold chain facility opening next year will handle Port of Charleston imports and exports of proteins, fruits and vegetables.
Container shipping giant Maersk sees continued strength in U.S. imports and ongoing supply chain disruptions globally.
Some 80 Houston owner-operators have been on strike against Hudd Transportation since Monday.
Last year was historically strong for some maritime businesses, terrible for others. No matter what the sector, maritime CEOs made millions.
Ocean carrier Maersk is buying three Boeing freighters and outsourcing flying to Amerijet to penetrate the U.S.-Asia air cargo market.
“This allows Samsung to set a new bar of service levels for logistics customers, and Vizion supports this through hyperfocus on enhanced visibility technologies,” said Kyle Henderson, co-founder and CEO of Vizion.
A flood of newly built container ships will be delivered by shipyards in 2023-25. Can liners maintain pricing power?
Container shipping rates remain far above pre-COVID levels, yet there are more signs of prices easing.
Pactum uses AI and chatbots to automate contract negotiations for some of the biggest companies in the world.
President Biden made his case for getting ocean carrier reform on the books by accusing ocean carriers of jacking up prices for consumers.
The French and Danish container lines CMA CGM and Maersk are reinvesting big profits in their air cargo fleets and service offerings.
Maersk said it can provide end-to-end supply chain solutions with its ships calling its APM Terminals Elizabeth, followed by clearance through Maersk Customs Services and finally storage, fulfillment distribution and inland transportation through Performance Team.
Food distributor Sysco Corp. intends to order up to 800 Class 8 Freightliner eCascadia electric trucks from Daimler Truck North America..
First came a pause in cargo bookings to Russia. Now, ocean carriers have halted almost all of their Russian port calls.
‘Right now, we don’t see a huge buildup of volumes because of the closedown in Shanghai,’ reports Maersk CEO Soren Skou.
New reports from Maersk, Kuehne+Nagel and Drewry point to an ongoing boom for container shipping lines.
The trans-Pacific container trade is vastly different than pre-pandemic, with more ships, more competition, and a new leader: Maersk.
Russian imports via ocean, truck, rail and air are now being simultaneously squeezed. Shipping data shows growing pressure.
Maersk is one of the world’s dominant container shipping lines. Now it is making a play to be a major cargo airline.
The partnership marks a “pivotal step” toward making green e-methanol more accessible and commercially viable for the maritime industry.
With more than $200 million in incentive funding being released Wednesday in California, fleets are placing larger orders for electric trucks.
Maersk will deploy 300 Class 8 electric trucks from Einride in its U.S. warehouse and distribution network.
“Solving the climate emergency and decarbonizing our customers’ supply chains is a strategic imperative for Maersk,” said CEO Soren Skou.
he Houston cold chain facility is scheduled to open in August and be operated by Performance Team, a company Maersk acquired in 2020.
The six companies plan to produce at least 730,000 metric tons of green methanol by the end of 2025.
COVID has been great for container shipping, terrible for cruising. What does this mean to MSC, which is big in both?
Liner company Zim expects to rake in a billion dollars more this year than in record-setting 2021.
Congressional watchdogs are alleging predatory pricing by three major container ship operators and want answers by March 16.
