November 2024
Danish shipping giant A.P. Moller - Maersk said higher freight rates coupled with increasing container volumes led to improved third quarter revenue and profit.Maersk reported growth across its businesses, primarily driven by Ocean, while both Terminals and Logistics and Services also contributed to improved earnings. Consolidated revenue increased 30 percent to US$15.8 billion, while operating profit reached US$3.3 billion, compared to US$538 million for the third quarter of 2023.The strong ...
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Hapag-Lloyd AG said a third-quarter rebound in demand and freight rates led to a significant increase in earnings for the German container shipping group.However, these results lag previous-year levels as expected, due to lower first-half 2024 freight rates and increased transport expenses from the rerouting of ships around the Cape ...
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DHL Supply Chain is deploying a suite of generative artificial intelligence applications to enhance its data management and analytics capabilities, aiming to provide greater insights and direct value for customers.Developed with the support of Boston Consulting Group, DHL Supply Chain said its strategic initiative marks a pivotal step in harnessing ...
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CMA CGM Group, French shipping and logistics company, said it delivered a “robust performance” in the third quarter, driven by sustained demand in maritime shipping amid disruption to major routes.Group revenue increased 38.5 percent to US$15.8 billion in the quarter ended Sept. 30, driven mainly by the shipping business. Earnings ...
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Shipyards’ deliveries of container ships reached a new annual record just 10 months into 2024, said BIMCO, the organization for ship owners, charters, brokers and agents.The 410 ships delivered with combined capacity of 2.5 million 20-foot equivalent units bettered the previous high of 2.3 million TEUs set in in 2023.The ...
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Ports in New York, New Jersey, California, Georgia, Texas, Pennsylvania, the Pacific Northwest and Puerto Rico were among 55 successful applicants receiving nearly US$3 billion through the U.S. Environmental Protection Agency’s Clean Ports Program.Funded through the Biden-Harris administration’s Inflation Reduction Act, these grants will improve air quality at ports across ...
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The Port of Los Angeles has been awarded a US$412 million grant from the U.S. Environmental Protection Agency’s Clean Ports Program to support the zero-emission transition at the nation’s busiest trade gateway.The port and its private sector partners will match the EPA grant with an additional US$236 million, bringing the ...
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Hapag-Lloyd has signed contracts with two Chinese shipyards for a total of 24 new energy efficient container ships, with 312,000 TEUs of total combined capacity, and a combined investment of about US$4 billion.Twelve 16,800 20-foot-equivalent units will be built by Yangzijiang Shipbuilding Group and will be used to expand the ...
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Drewry, the maritime research and consultancy, said its World Container Index increased 4 percent to US$3,444 per 40-foot container the week of Nov. 7.The latest Drewry WCI composite index is 67 percent below the previous pandemic peak of US$10,377 in September 2021, but it is 142 percent more than the ...
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The Port of Corpus Christi Authority said it will receive US$105 million through the U.S. Environmental Protection Agency’s Clean Ports Program to deploy zero-emissions equipment.The port’s EPA grant will support about 70 percent of the cost of following zero-emission equipment and projects, including: Three tugboats, one for each of the ...
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