Tag

Freight Rates

All articles tagged with #freight rates

business1 year ago•3 min saved

Maersk Shares Plummet as Company Warns of Market Slowdown

A.P. Moller-Maersk A/S shares plummeted after the company warned of an impending industry slowdown once the current boost to freight rates from the Red Sea conflict fades, with global container trade growth expected to be at 2.5% to 4.5% for the full year. About a third of Maersk’s fleet is affected by the Red Sea turmoil, and the company estimates that the global container fleet will grow 12% to 13% this year as new ships are launched, exacerbating the industry's overcapacity problem. Maersk's 2024 financial outlook missed most analyst estimates, and the company suspended its stock buyback program due to market uncertainty.

via Yahoo Finance|

#business #freight-rates #global-trade

business-retail2 years ago•4 min saved

"Global Retailers Navigate Price Hikes Amid Houthi Red Sea Attacks"

European and U.S. retailers are implementing strategies such as carrying more stock, switching to local suppliers, and reducing dependence on China to build more resilient supply chains amidst disruptions in the Red Sea. With limited financial flexibility, retailers are wary of hiking prices and are absorbing higher transport costs. Some are using sea-air freight and limiting discounting to protect inventory, while others are considering "nearshoring" to source closer to their markets. However, the focus remains on cost management and maintaining profitability in the face of supply chain challenges.

via Reuters|

#business-retail #cost-management #freight-rates

business-logistics2 years ago•2 min saved

"Red Sea Attacks Disrupt Shipping, Threaten Air Freight Rates"

The recent Houthi attacks in the Red Sea have not only caused a spike in sea freight rates, but are also expected to drive up air freight rates as global trade flows are increasingly disrupted. Delays in maritime trade may lead some retailers to switch to air freight for faster delivery, prompting an expanded role for air cargo in the supply chain ecosystem. Industry experts anticipate a surge in air freight rates in the next few weeks, particularly as the Chinese New Year holiday approaches, potentially benefiting the air cargo industry amidst international disruption.

via CNBC|

#air-freight #business-logistics #freight-rates

businessshipping2 years ago•4 min saved

Red Sea Troubles: Impact on Global Shipping and Economy

Attacks by Yemen-based Houthis in the Red Sea have led to a spike in freight rates as shipping companies divert routes, potentially ending the global shipping recession. The disruptions could add billions to the bottom line of vessel-operating common carriers (VOCCs) like Maersk, Evergreen, and COSCO. While the higher rates may boost profitability, the industry still faces challenges such as oversupply of containers and soft shipping demand. The duration of the disruptions and involvement of multinational navies will determine the extent of the impact on freight rates.

via CNBC|

#businessshipping #container-ships #freight-rates

energy2 years ago•4 min saved

Russian Oil Price Cap Faces Challenges Amid Growing Tanker Fleet and Western Sanctions

Russian crude oil producers are benefiting from cheaper freight rates to ship their oil to China and India, thanks to a growing number of vessels operating outside the purview of Western governments. This allows Russian firms to earn more than the $60 per barrel cap that the US and its allies had aimed to impose on Russia through sanctions. The increase in tanker fleet and lower freight rates mean that enforcing the price cap will have limited impact on Russian revenues. The US has recently imposed sanctions on tankers carrying Russian oil above the cap, but many vessels have already been re-registered in countries not imposing sanctions. As a result, Russian exporters are earning about $70 per barrel, well above the $60 price cap.

via Reuters|

#energy #freight-rates #price-cap

business2 years ago•2 min saved

West Coast port disruptions continue for fourth day, causing trade delays.

Industrial action by dockworkers across US west coast ports has entered its fourth day, causing severe disruptions to operations. Talks between the Pacific Maritime Association and the International Longshore and Warehouse Union have been ongoing for 13 months. If the shutdowns become widespread and protracted, freight rates into the US might increase quite sharply, warns Lars Jensen, CEO of consultancy Vespucci Maritime.

via Splash 247|

#business #contract-talks #freight-rates