“Thousands” of small freight forwarders fear for their survival following Maersk’s decision to offer them only its Maersk Spot product. The loss of the vast majority of Maersk’s capacity has led to some “4m teu looking for a new home”, according to one major forwarder. Larger forwarders have secured long-term contracts with other...
Maersk’s proposed $3.6bn acquisition of Hong Kong-based LF Logistics represents a “significant milestone” in its transformation into a global integrator of container logistics, according to the CEO of its Ocean & Logistics division, Vincent Clerc. Maersk will purchase LF Logistics from controlling shareholder Li & Fung and Singapore state-owned investment vehicle Temasek, which...
Opinion by Vincent Clerc for CNN Business Perspectives Updated 1751 GMT (0151 HKT) December 16, 2021 CNN Editors’ note: Vincent Clerc is CEO of A.P. Moller-Maersk Ocean & Logistics. The opinions expressed in this commentary are his own. Almost everything you buy has traveled along some of the millions of miles of networks that make up...
Maersk has signed a four-year contract with FMCG and food production giant Unilever to provide operational management of its global ocean and air freight transport. The agreement will also see the carrier develop and manage Unilever’s International Control Tower Solution, which will build on the Virtual Ocean Control Tower debuted earlier this...
Maersk has recorded the best quarter in its history, reporting a net profit of $2.7bn for the first three months of the year, compared with $209m for Q1 20. The Danish transport and logistics group attributed “around $2bn” of the result to the “extraordinary market conditions”. And Maersk’s profit for the period could...
PRESS RELEASE Trading update for Q1 2021 and 2021 full year guidance adjustment ANNOUNCEMENT A.P. Møller – Mærsk A/S – Trading update for Q1 2021 and 2021 full year guidance adjustment Based on preliminary figures A.P. Møller – Mærsk A/S (APMM) reports an unaudited revenue of USD 12.4bn and an underlying EBITDA of USD 4bn...
Here’s the latest news from AP Møller-Mærsk (APMM), released today @ 16.23 GMT after the market closed (Q3 ’20 results are due tomorrow): Upgrading the full year EBITDA guidance for 2020 Based on the preliminary financial figures for October and the increased momentum in the fourth quarter in global container volumes and freight...
Major forwarders may abandon Maersk over concerns that the line’s new “integrated” business and “aggressive” strategy creates conflict of interests, and that it wants to cut forwarders from its business. DB Schenker confirmed to The Loadstar that it had lost key account status with the shipping line, but said it had already switched...
