0
0.0
May 2, 2024
05/24
by
BBCNEWS
tv
eye 0
favorite 0
quote 0
what are we expecting from maersk and what impacts are we seeing? following two quarters of lossmaking performers in their liner business in 03 and 04 we should definitely expect profits return to the whole of the maersk as well as the ocean freight business because the situation in the red sea particularly have turned the market on its head. the container shipping industry was looking for a structural overcapacity that would hold the business for years ahead of us and now the red sea disruption comes about and we can see another platform where freight rates went to 5000 in a matter of weeks and we see the important long—term contracts jumping $200— important long—term contracts jumping $200- $300 important long—term contracts jumping $200— $300 only from that crisis so it is kind of like a blessing in disguise. maersk say they are monitoring what impact it is having and the western mediterranean. how much longer do you think ports like this can absorb the shocks of what is going on in the middle east? indie of what is going on in the midd
what are we expecting from maersk and what impacts are we seeing? following two quarters of lossmaking performers in their liner business in 03 and 04 we should definitely expect profits return to the whole of the maersk as well as the ocean freight business because the situation in the red sea particularly have turned the market on its head. the container shipping industry was looking for a structural overcapacity that would hold the business for years ahead of us and now the red sea...
0
0.0
May 2, 2024
05/24
by
BBCNEWS
tv
eye 0
favorite 0
quote 0
for maersk, there. it is a pivotal point. for maersk. that _ there. it is a pivotal point. for maersk, that could continue till the end of the year. but they will benefit from the higher prices. it is a bit ironic, that they are saying it will add to global inflation, but they could do when i of it. i inflation, but they could do when i of it. ~' ., ., ~' inflation, but they could do when i of it. ~ ., ., ~ ., inflation, but they could do when i of it. ~ ., _, ., of it. i think look at the container shi -|n~ of it. i think look at the container shipping sector. _ of it. i think look at the container shipping sector, the _ of it. i think look at the container shipping sector, the results - of it. i think look at the container i shipping sector, the results weren't so good. they lost about hundred and 61 million dollars which is very underwhelming. it will be bettered by many of its peers. one of its rivals posted an epic profit of $223 million. it is no longer the best benchmark for the industry. the impact of the red sea disruption is going to be felt by all carriers. the i
for maersk, there. it is a pivotal point. for maersk. that _ there. it is a pivotal point. for maersk, that could continue till the end of the year. but they will benefit from the higher prices. it is a bit ironic, that they are saying it will add to global inflation, but they could do when i of it. i inflation, but they could do when i of it. ~' ., ., ~' inflation, but they could do when i of it. ~ ., ., ~ ., inflation, but they could do when i of it. ~ ., _, ., of it. i think look at the...
0
0.0
May 6, 2024
05/24
by
BBCNEWS
tv
eye 0
favorite 0
quote 0
shipping giant maersk warns the trade disruption from houthi attacks in the red sea is getting worse. plus — seeing the wood for the trees. carbon offset schemes have largely failed to stop deforestation, warn scientists, and need a "radical rethink". welcome to world business report. i'm ben thompson. we start with the shipping industry — because the danish giant maersk has warned that disruption to container traffic in the red sea is worsening. it says, wuote, "the risk zone has expanded" as drone and missile attacks on ships by yemen's houthi rebels are reaching further offshore. maersk estimates the industry's capacity to ship goods between europe and asia will be down as much as 20% in the april to june period. it says it has added thousands more containers and is sailing faster on the route around southern africa to offset some of the disruption, but that means it's using 40% more fuel. larsjenson, ceo at shipping consultants vespucci maritime, explained the impact of this increased disruption. within the last week, week and a half, we have now seen attacks ranging into the
shipping giant maersk warns the trade disruption from houthi attacks in the red sea is getting worse. plus — seeing the wood for the trees. carbon offset schemes have largely failed to stop deforestation, warn scientists, and need a "radical rethink". welcome to world business report. i'm ben thompson. we start with the shipping industry — because the danish giant maersk has warned that disruption to container traffic in the red sea is worsening. it says, wuote, "the risk...
0
0.0
May 6, 2024
05/24
by
BBCNEWS
tv
eye 0
favorite 0
quote 0
we start with the shipping industry — because the danish giant maersk has warned that disruption to container traffic in the red sea is worsening. it says, wuote, "the risk zone has expanded" as drone and missile attacks on ships by yemen's houthi rebels are reaching further offshore. maersk estimates the industry's capacity to ship goods between europe and asia will be down as much as 20% in the april to june period. it says it has added thousands more containers and is sailing faster on the route around southern africa to offset some of the disruption, but that means it's using 40% more fuel. larsjenson, ceo at shipping consultants vespucci maritime, explained the impact of this increased disruption. within the last week, week and a half, we have now seen attacks ranging into the indian ocean itself. the problematic issue there is prior to these attacks, it was basically free passage from africa up to some of the key transshipment hops you have on the southern part of the arabian peninsula. those routes are now also compromised, forcing the ships to take a detour closer to the indian coast.
we start with the shipping industry — because the danish giant maersk has warned that disruption to container traffic in the red sea is worsening. it says, wuote, "the risk zone has expanded" as drone and missile attacks on ships by yemen's houthi rebels are reaching further offshore. maersk estimates the industry's capacity to ship goods between europe and asia will be down as much as 20% in the april to june period. it says it has added thousands more containers and is sailing...
0
0.0
May 6, 2024
05/24
by
BBCNEWS
tv
eye 0
favorite 0
quote 0
maersk said it estimated the industry had lost between 15 and 20% of its capacity on the far east to mediterranean and northern european routes. it said it had added container capacity and was sailing faster on the route around southern africa to offset some of the disruption, but that means it's using a0 % more fuel. joining me now is larsjenson — ceo at shipping consultants vespucci maritime. good to have you with us. talk to us first of all about what is happening, those drone attacks are able to get further out to sea, is it destructing more ships or reaching the ships trying to avoid those attacks? it’s reaching the ships trying to avoid those attacks?— reaching the ships trying to avoid those attacks? it's reaching further out. those attacks? it's reaching further out- within — those attacks? it's reaching further out. within the _ those attacks? it's reaching further out. within the last _ those attacks? it's reaching further out. within the last week _ those attacks? it's reaching further out. within the last week we - those attacks? it's reaching further out. within
maersk said it estimated the industry had lost between 15 and 20% of its capacity on the far east to mediterranean and northern european routes. it said it had added container capacity and was sailing faster on the route around southern africa to offset some of the disruption, but that means it's using a0 % more fuel. joining me now is larsjenson — ceo at shipping consultants vespucci maritime. good to have you with us. talk to us first of all about what is happening, those drone attacks are...
0
0.0
May 3, 2024
05/24
by
RUSSIA24
tv
eye 0
favorite 0
quote 0
accordingly, the net profit of maersk, one of the world leaders in maritime transport decreased by 12 times. the danish company was able to earn only $210 million in the first quarter of this year; a year earlier, the figure exceeded $2.5 billion. the reason is obvious: houthi attacks in the red sea and the need to use alternate routes. if we are talking about any western state. that the journey from india takes 10-14 days longer, and with this additional time span, if you want to maintain weekly departures from indian ports, it requires accommodation additional ship capacity, this requires additional investment in increasing the number of employees to maintain the level of goods flow. ceo maersk in an interview with the financial times noted that there are no signs of a reduction in tension in the region, representatives of the houthis. announced that just this week six more ships linked to israel, the united states and britain were attacked, bringing the total number of attacks since october to more than a hundred. turkey has completely stopped trade with israel and suspended all im
accordingly, the net profit of maersk, one of the world leaders in maritime transport decreased by 12 times. the danish company was able to earn only $210 million in the first quarter of this year; a year earlier, the figure exceeded $2.5 billion. the reason is obvious: houthi attacks in the red sea and the need to use alternate routes. if we are talking about any western state. that the journey from india takes 10-14 days longer, and with this additional time span, if you want to maintain...
0
0.0
May 1, 2024
05/24
by
CNBC
tv
eye 0
favorite 0
quote 0
a key metric for maersk, they move own liners. there's a pull forward for demand of goods that happened during the pandemic. the estimate is for $7.5 billion for ocean revenue. does that represent a good quarter? are we in a normalized supply chain or disrupted? >> we're certainly in a disrupted supply chain. our view is we're structurally perhaps entering into a strong downcycle, but we'll continue to see the volatility. we have a good peak into how the first quarter has been. it's surprisingly a strong quarter. so in terms of the freight trade, we're looking somewhere in the range of 10% to 20%. so going into the results, we're actuallybullish on it. we think there's a good number that maersk will end on a higher range. all the red sea disruption did is push the downcycle from 2024 to 2025. the divergence from the red sea is not likely to get softer any soon. it could get absorbed with the demand in trade, which means that probably 25 will see a trajectory. >>> another global strategic industry, dhl, i noticed a bunch of managem
a key metric for maersk, they move own liners. there's a pull forward for demand of goods that happened during the pandemic. the estimate is for $7.5 billion for ocean revenue. does that represent a good quarter? are we in a normalized supply chain or disrupted? >> we're certainly in a disrupted supply chain. our view is we're structurally perhaps entering into a strong downcycle, but we'll continue to see the volatility. we have a good peak into how the first quarter has been. it's...
0
0.0
May 3, 2024
05/24
by
RUSSIA24
tv
eye 0
favorite 0
quote 0
ceo of maersk in an interview. the financial times noted that there are no signs of easing tensions in the region. houthi officials , meanwhile, said that this week alone they attacked six more ships linked to israel, the united states and britain. the total number of attacks since october is already more than a hundred. turkey has completely stopped trade with israel. the suspension of all export-import operations was confirmed by the ministry of trade republics. they noted that this is the second stage of measures, there are no exceptions for product groups. to resume. relations with tel aviv, ankara puts forward two demands: an immediate ceasefire in the gas sector, as well as ensuring an adequate uninterrupted flow of humanitarian aid. the turkish ministry of trade noted that it is coordinating its actions with the palestinian ministry of economy so that the sanctions do not affect the palestinians. imports to the united states from russia rose to almost $430 million in march, according to the american statisti
ceo of maersk in an interview. the financial times noted that there are no signs of easing tensions in the region. houthi officials , meanwhile, said that this week alone they attacked six more ships linked to israel, the united states and britain. the total number of attacks since october is already more than a hundred. turkey has completely stopped trade with israel. the suspension of all export-import operations was confirmed by the ministry of trade republics. they noted that this is the...
0
0.0
May 3, 2024
05/24
by
RUSSIA24
tv
eye 0
favorite 0
quote 0
the net profit of maersk is one of the world leaders. houthi attacks in the red sea and the need use alternate routes. if we are talking about any western state, then the journey from india takes 10-14 days longer, and with such an additional time period. if you want to maintain weekly output from indian ports, it requires the deployment of additional ship capacity, it requires additional investment in increasing the number of personnel for... noted that there are no signs of tensions in the region easing. representatives of the houthis, meanwhile, announced that just this week they attacked more six ships linked to israel, the us and britain. the total number of attacks since october is already more than a hundred. turkey has completely stopped trade with israel. the suspension of all export-import operations was confirmed by the ministry of trade of the republic. it was noted there that... this is the second stage of measures; there are no exceptions for product groups. to resume commercial relations with tel aviv, ankara puts forward
the net profit of maersk is one of the world leaders. houthi attacks in the red sea and the need use alternate routes. if we are talking about any western state, then the journey from india takes 10-14 days longer, and with such an additional time period. if you want to maintain weekly output from indian ports, it requires the deployment of additional ship capacity, it requires additional investment in increasing the number of personnel for... noted that there are no signs of tensions in the...
0
0.0
May 2, 2024
05/24
by
BLOOMBERG
tv
eye 0
favorite 0
quote 0
plenty more earnings interviews coming up, including a conversation with the ceo of shipping giant maersk in the cfo of novo and orders. stay with us. this is bloomberg. ♪ anna: good morning from london, this is bloomberg markets today. i'm alongside guy johnson and kriti gupta. with cash trade less than an hour away, hig
plenty more earnings interviews coming up, including a conversation with the ceo of shipping giant maersk in the cfo of novo and orders. stay with us. this is bloomberg. ♪ anna: good morning from london, this is bloomberg markets today. i'm alongside guy johnson and kriti gupta. with cash trade less than an hour away, hig
0
0.0
May 2, 2024
05/24
by
BBCNEWS
tv
eye 0
favorite 0
quote 0
trouble at sea — we'll hear how shipping giant, maersk, is coping with disruption of freight routes, when they report later today. with india's election in full swing, we examine how women are playing a key role in that mammoth vote. and shares of e—retailer, ebay, sink after it presents a pessimistic outlook. hello, good morning, and welcome to our look at business news. america's central bank left its benchmark interest rate unchanged at 5.25% and 5.5% as stubbornly high inflation continues to hold off the timing of the first rate cut. the decision, which was expected, comes days after new government data showed that the pace of us economic growth is slowing. from new york, here's the bbc�*s north america
trouble at sea — we'll hear how shipping giant, maersk, is coping with disruption of freight routes, when they report later today. with india's election in full swing, we examine how women are playing a key role in that mammoth vote. and shares of e—retailer, ebay, sink after it presents a pessimistic outlook. hello, good morning, and welcome to our look at business news. america's central bank left its benchmark interest rate unchanged at 5.25% and 5.5% as stubbornly high inflation...
0
0.0
May 6, 2024
05/24
by
BBCNEWS
tv
eye 0
favorite 0
quote 0
and the shipping crisis in the red sea is worsening — as maersk warns its capacity will be cut by up to 20% in the coming months. welcome to world business report. i'm ben thompson. let's start in france, where the chinese president xijinping has kicked off his first trip to europe in five years. he's been meeting with president emmanuel macron at the elysee palace, along with the head of the european commission ursula von der leyen. the visit comes as some countries in europe are taking action over what they perceive to be anti—competitive practices by china. france backed a european commission anti—subsidy inquiryu into chinese electric vehicle imports. china subsequently launched an anti—dumping investigation into brandy which was seen as targeting france. 0n economic issues, i think the message by france is on reciprocity and addressing asymmetries. france has a trade deficit of about 50 billion euros with china. i don't think this time you should expect any french concessions on what you call now the economic security agenda, the investigation going on on chinese electric
and the shipping crisis in the red sea is worsening — as maersk warns its capacity will be cut by up to 20% in the coming months. welcome to world business report. i'm ben thompson. let's start in france, where the chinese president xijinping has kicked off his first trip to europe in five years. he's been meeting with president emmanuel macron at the elysee palace, along with the head of the european commission ursula von der leyen. the visit comes as some countries in europe are taking...
0
0.0
May 6, 2024
05/24
by
CNBC
tv
eye 0
favorite 0
quote 0
. >>> moeller says maersk traffic in the red sea is worsening and it will be reduced in the second quarter. the company said disruption caused by houthi attacks should continue until the end of the year. and the ubs ceo will leave at the end of the month as they look to review the entities. we have dan murphy with more. >> reporter: i just stepped off stage and about the write down in the first quarter with cigna group. it resulted in the ceo of julius baer walking away and the private debt markets. i asked whether or not the business, the firm, has adequate risk management structures in place and what was being done to clean up the mess. >> the recent events have been unfortunate. i think we dealt with all of them. it took a lot of helps measures. we are still a profitable company. we almost printed half a billion of swiss franc profit aside from the write down. our strategy in focusing on servicing private individuals and high-net worth clients is sou sound. in that sense, i'm confident we drew a strong line on these events and now it is about moving forward. >> reporter: speaking to me
. >>> moeller says maersk traffic in the red sea is worsening and it will be reduced in the second quarter. the company said disruption caused by houthi attacks should continue until the end of the year. and the ubs ceo will leave at the end of the month as they look to review the entities. we have dan murphy with more. >> reporter: i just stepped off stage and about the write down in the first quarter with cigna group. it resulted in the ceo of julius baer walking away and the...
0
0.0
May 2, 2024
05/24
by
CNBC
tv
eye 0
favorite 0
quote 0
announcing a $3.5 billion buyback program set to take place in the next three mo months shares up 1.5% >>> maersk raised the outlook after beating first quarter revenue estimates. it sees the trend to the higher end of the guidance. the company says there has been significant disruption since the start of the year due to red sea issues shares up 1.5%. >>> moving on to fashion hugo boss reporting a 6% jump in ebitda it remained focused on efficiencies as it confirm the future-year outlook. >>> pandora raised guidance after beating expectations in the first quarter. the danish jewelry maker expects 8% to 10% this year. the ceo told cnbc that the jewelry business must continue to work on its strategy in china. >> china is 2% of pandora's reve revenue at the group level china remains one of the largest jewelry market in the world. the difference in china is our brand was never launched properly what we are now trying to do is rewind ten years of prices in china and do what we have done in every other market that pandora is present in. that is the journey ahead of us. there are some interesting result
announcing a $3.5 billion buyback program set to take place in the next three mo months shares up 1.5% >>> maersk raised the outlook after beating first quarter revenue estimates. it sees the trend to the higher end of the guidance. the company says there has been significant disruption since the start of the year due to red sea issues shares up 1.5%. >>> moving on to fashion hugo boss reporting a 6% jump in ebitda it remained focused on efficiencies as it confirm the...
0
0.0
May 2, 2024
05/24
by
BBCNEWS
tv
eye 0
favorite 0
quote 0
maersk is not no longer the best benchmark for the industry. but broadly speaking the impact of the red sea disruption is going to be felt by all carriers. increase in operating costs mainly from the higher fuel costs mainly from the higher fuel costs and from the longer voyages you mentioned but also from lessening the impact of the quite severe overcapacity that exists in the market. more ships are needed to maintain frequencies and those factors combined did see a surge in spot rates in the short—term market from january whereas previously spot rates had been on a steep declining path for about two years. it’s rates had been on a steep declining path for about two years.— path for about two years. it's an interesting _ path for about two years. it's an interesting timing _ path for about two years. it's an interesting timing coming - path for about two years. it's an interesting timing coming off. path for about two years. it's an | interesting timing coming off the back of covert when supply chains really were disrupted just as the in
maersk is not no longer the best benchmark for the industry. but broadly speaking the impact of the red sea disruption is going to be felt by all carriers. increase in operating costs mainly from the higher fuel costs mainly from the higher fuel costs and from the longer voyages you mentioned but also from lessening the impact of the quite severe overcapacity that exists in the market. more ships are needed to maintain frequencies and those factors combined did see a surge in spot rates in the...