Gary G Burrows
Swedish-Norwegian roll-on, roll-off carrier Wallenius Wilhelmsen said its third quarter was its second-strongest quarter of record, despite a slight dip in adjusted EBITDA, to US$503 million.“All business units are performing well, and the activity level is high across the organization,” said Lasse Kristoffersen, CEO of Wallenius Wilhelmsen. “Year-to-date, all segments have delivered better than in 2023 and we are confident that 2024 EBITDA will be somewhat better than 2023.”Negotiations for ...
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Americans could face a loss of US$46 billion to US$78 billion in spending power each year if newly re-elected President Donald Trump makes good on his promise of new tariffs on imports, according to a recent study by the National Retail Federation.Trump’s proposals include a 10 percent to 20 percent ...
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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 ...
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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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