CAIRO—The world’s biggest shipping company said Monday it sued a rival shipping line in a Danish court, seeking compensation for ship delays that resulted from the blocking of the Suez Canal by a hulking vessel two years ago. The Panama-flagged vessel Ever Given, operated by Evergreen Marine Corp., ran aground in March 2021, blocking the…
Maersk Sees Container Demand Slowing as Recession Looms
OSLO—Shipping group Maersk warned on Wednesday of slowing demand for transport and logistics as a global recession looms and cut its forecast for container demand this year, even as it beat third-quarter earnings expectations. “It is clear that freight rates have peaked and started to normalize during the quarter, driven by both decreasing demand and…
Maersk Sees Global Supply Chain Woes for Longer; Lifts 2022 Guidance
COPENHAGEN—Maersk raised its 2022 profit guidance for a second time on Tuesday after beating quarterly revenue expectations as congested global supply chains that have boosted freight rates persist longer than expected. The shipping industry has seen record profits in recent quarters due to a surge in consumer demand and pandemic-related logjams holding up containers in…
Maersk Expects Supply Chain Chaos to Buoy 2022 Profits
COPENHAGEN—Shipping group Maersk expects 2022 earnings to be around as high as last year, it said on Wednesday, as the supply chain disruption that sent freight rates soaring extends into the first half. It expects underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) at around $24 billion this year, similar to last year, but…
EU Company Granted Concession for Croatian Port Terminal After Cancellation of Tender With Chinese Bidder
November 11, 2021
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APM TerminalsBusiness & EconomyChinacontainer terminalCroatiaEuropeEurope-China RelationsmaerskPort of RijekaSpecial TopicsWorld
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A 50-year concession for the development and economic use of a new deep-sea container terminal in the Adriatic port of Rijeka in Croatia has been granted to a European company. The concession contract to build the necessary infrastructure and fully equip the Zagreb Deep Sea container terminal in the port of Rijeka—the biggest seaport in…
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