Ocean carriers are still swimming in bathtubs of money
🚢 Ocean carriers are still swimming in bathtubs of money.
You get the picture. Record profits have been highlighted again and again as container carriers absorbed huge profits in the wake of the pandemic. The world’s second-largest shipping carrier, Maersk, is reporting a 52% increase in revenue as compared to this time last year - a whopping $21.7 billion. That means that net profits were $8.6 billion, a new quarter record.
Maersk is expanding its services to cover the entire supply chain, including air cargo operations.
Shipping giant Maersk has informed clients that vessels carrying freight from Oceania (Australia and New Zealand) will no longer transit the Panama Canal due to ongoing low water levels caused by a severe drought.
In a recent incident in the Red Sea, U.S. helicopters successfully defended a Maersk container vessel from an attack by Iran-backed Houthi militants.
Maersk and CMA CGM, two major global shipping companies, are implementing additional charges due to their decision to reroute ships away from the Red Sea following recent attacks on vessels in the region.
Maersk is investing over $500 million to expand its supply chain infrastructure in Southeast Asia to support the region's growth as a global production and consumption hub.
Swedish car manufacturer Volvo Cars have partnered with Maersk to decrease its global greenhouse gas (GHG) emissions from seaborne logistics.
CEO Vincent Clerc has cited “muted” economic growth as a reason for the decline, especially after exceptionally high freight rates have been normalized over the past two years.
With full-year revenue skyrocketing to $81.5 billion - a 32% increase from 2021’s $61.8 billion mark - the company is celebrating… cautiously
Maersk North America provides a range of shipping and logistics services to customers, including ocean transportation, intermodal transport, and supply chain management solutions.
Two new weekly flights have been scheduled between Greenville-Spartanburg Airport (GSP) in South Carolina and Incheon Airport (ICN), increasing the air market accessibility between Asia and the Southeast region of the United States.
With a recorded 2022 revenue of over $22 billion, the ocean logistics company is reporting higher volumes as compared to last year.
Ocean carriers are still swimming in bathtubs of money.
The U.S. Clean Shipping Act is legislation currently being reviewed by Congress.
Maersk, the Danish shipping and logistics company and one of the leading figureheads in the maritime industry is warning that it has loaded 7.4% fewer containers onto ships in Q2.
By shifting its focus, Maersk will be dedicating internal resources to the WSC and strengthening its relationship.
The container shipping industry is grappling with a surplus of capacity, leading to a drop in customer rates that Maersk CEO Vincent Clerc described as unsustainable during the company's annual shareholder meeting.