Earnings are expected to plunge by up to 78% in 2023 A.P Moller-Maersk, operator of the world’s second-largest container line, announced fourth-quarter results in line with expectations on Wednesday. But its outlook for 2023 came in below consensus, with rates expected to be particularly weak in the second half
Hapag-Lloyd Q4 2022 EBITDA over 7 times higher than Q4 2019 EBITDA Spot container shipping rates in many trades have already collapsed back to pre-COVID levels. But container liner earnings are still nowhere near where they were pre-pandemic. Ocean carriers are still earning billions more per quarter than they
Top 9 carriers control 83% of capacity, but the 3 alliances control only 39% The world’s top two container lines — Switzerland’s MSC and Denmark’s Maersk — have cooperated since 2015 in the 2M alliance, a partnership they will end in 2025. Because MSC and Maersk have the biggest fleets,
Income plunges for OOCL, Evergreen, Yang Ming, Wan Hai New operating results from four Asian shipping lines were released Friday, pointing to steep performance declines in the fourth quarter and ongoing market erosion in the first month of this year. Orient Overseas Container Line (OOCL), the Hong Kong-listed subsidiary
As the search continues for new alternative fuels to contribute to the decarbonization of shipping, Norway’s MPC Container Ships has entered into a future contract with Germany’s Ineratec for a new synthetic marine diesel oil for its ships. Ineratec, which is developed power-to-liquid applications for other segments of the
Maersk is moving towards a single, unified brand that will see shipping lines Hamburg Süd and SeaLand as well as newer acquired brands like Senator and LF Logistics discontinued and integrated into Maersk. “We believe that by integrating these into the Maersk brand, we will be able to ease
The divorce, due to be completed in January 2025, of container shipping’s “Odd Couple” as one liner veteran described it to Splash had been rumoured for many months, and it will pit Clerc, a Swiss citizen in Copenhagen, against Toft, a Danish former Maersk high-flyer in Geneva, in a battle for
You are a bridge officer on a 12,000 TEU container vessel in the Kill Van Kull Channel, heading west towards the Bayonne Bridge with a pilot on board. It’s a cloudless sunny day. As you pass Constable Hook Reach, you feel the ship veer hard to port and your speed
Hapag-Lloyd is joining a project underway in Germany to evaluate options for the supply of ammonia as bunker fuel. Germany’s Mabanaft, through its subsidiary Oiltanking Deutschland, is working with AirProducts to develop Germany’s first large-scale, green energy import terminal at its current facility in Hamburg. Hapag is joining in
The EU’s shipping price cap on Russian diesel and fuel oil takes effect on February 5, and the European Commission is thinking of setting the initial cap level at $100 per barrel, according to Bloomberg. Unlike the G-7 Russian oil price cap, which is a broad multilateral measure, the
