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Business Shipping

All articles tagged with #business shipping

"CEO of Hapag-Lloyd Addresses Global Trade Outlook and Supply Chain Disruptions"

CEO Rolf Habben Jansen of Hapag-Lloyd, the world's fifth-largest ocean carrier, expresses optimism for trade demand in the second half of 2024, despite a drop in 2023 net profit and increased costs due to Red Sea diversions. The company is facing challenges from attacks in the Red Sea, increased emissions, and a longer shipping route. Hapag-Lloyd has formed a new ocean alliance with Maersk to improve schedule reliability, and U.S. shippers are preparing for potential port strikes during the peak shipping season.

via CNBC|

#business-shipping #global-trade #hapag-lloyd

business-shipping1 year ago•4 min saved

"Red Sea Attacks Spark Oil Tanker Shortage and Economic Ripples"

Houthi attacks on commercial shipping in the Red Sea have led to widespread diversions in global petroleum trades, exacerbating the longstanding issue of too few oil tankers being built. With just two new supertankers set to join the fleet in 2024, rates have spiked and voyage durations have increased, impacting the tanker market. The situation is expected to tighten further in the future, as the tanker shortage coincides with a faltering global fleet efficiency and a reshuffling of global oil flows. Despite some reasons for caution, equity analysts are bullish about the future of tanker owners due to the limited order book, aging fleet, and impact of environmental regulations.

via Yahoo Finance|

#business-shipping #global-trade #oil-tankers

business-shipping1 year ago•3 min saved

"Red Sea Crisis: Easing Ocean Freight Inflation and Container Planning"

The Red Sea crisis has caused a surge in ocean freight rates, but there are signs of relief as rates on key trade routes from Asia to the U.S. and Europe are beginning to decline. Despite ongoing maritime threats, data from Xeneta shows a slight decrease in rates, providing some relief for U.S. importers. However, rates are still significantly elevated compared to December. The timing of these rate decreases could impact negotiations between carriers and shippers, and upcoming manufacturing volumes out of Asia post-Lunar New Year may influence pricing for the rest of the year.

via CNBC|

#business-shipping #global-trade #ocean-freight

business-shipping1 year ago•3 min saved

Maersk's Profits Hit as Red Sea Disruption Leads to Share Buyback Suspension

Maersk warned that container shipping overcapacity would impact profits more than expected this year and downplayed the boost from the jump in freight rates due to Red Sea disruptions, leading to a 17% plunge in its shares. The company suspended its share buyback program and expects the oversupply of vessels to affect earnings in the coming years, with a projected underlying EBITDA of $1-6 billion for 2024, below analyst expectations. CEO Vincent Clerc cautioned against expecting a significant profit boost from the Red Sea crisis and emphasized the long-term impact of overcapacity on shipping prices.

via Reuters|

#business-shipping #container-shipping #earnings