Tag: Maersk (Page 2 of 2)

A.P. Moller – Maersk reports robust Q2 financial results in difficult market

August 7, 2023 / WIL BALDWIN

Copenhagen, Denmark – A.P. Moller – Maersk (OTC: AMKBY) reports a second quarter of 2023 ahead of expectations, while the ongoing market normalisation continued through the quarter leading to lower volumes and lower rates. Revenue stood at USD 13.0bn compared to USD 21.7bn in Q2 2022 while profitability was strong at 12.4% although significantly lower compared to the extraordinarily strong Q2 2022. Reflecting the strong first half performance, Maersk raises its financial outlook and now expects underlying EBITDA of USD 9.5 – 11.0bn (previously USD 8.0 – 11.0bn), underlying EBIT of USD 3.5 – 5.0bn (previously USD 2.0 – 5.0bn) despite a weakened second half market outlook.

Ocean revenue decreased to USD 8.7bn from USD 17.4bn driven by a decrease in freight rates and loaded volumes. While the volume and rate environment stabilized at a lower level during Q2, Ocean continued to be impacted by lower demand, driven by a significant inventory correction in particular in North America and Europe. A strong cost management allowed to partially offset the top line impact on financial performance in Ocean.

Revenue in Logistics & Services was USD 3.4bn compared to USD 3.5bn. The segment was also impacted by lower volumes due to the continued destocking and weaker consumer demand, as well as low rates. As in Ocean, market demand is expected to continue to be subdued as long as the inventory correction is ongoing.

Revenue in Terminals decreased to USD 950m from USD 1.1bn and was influenced by the normalisation of storage revenue and lower volumes amid lower consumer demand and less congestion in North America. Strong cost control contributed to a continued solid financial performance.

Maersk expands its global air freight services with new Atlanta strategic air cargo hub

July 19, 2023 / WIL BALDWIN

Maersk (OTC: AMKBY) is strengthening our promise to customers of integrated, end-to-end logistics solutions by growing our air freight services in a strategic transportation hub. The new Atlanta facility enhances our offering, providing customers with superior supply chain flexibility supported by our expanded regional capabilities in warehousing and transportation. We will be able to leverage this connectivity to bolster our air freight network across North America, Europe, Asia Pacific, and the world.

Located in Atlanta Tradeport’s Foreign Trade Zone, the new air cargo facility enjoys lower duties, reduced processing fees, and quicker movement of goods from the port of Savannah. The site is located just two miles from Atlanta Hartsfield-Jackson International Airport and has direct access to interstates I-75 and I-285.

The new Atlanta facility builds on several initiatives designed to bolster Maersk’s air freight services in North America. The company recently opened a new Chicago air freight gateway facility to add more supply chain integration opportunities for customers using Chicago O’Hare International and Rockford International. Prior to that, Maersk also launched a new air freight service with regular flights between South Carolina, Korea, and China operated by Miami-headquartered cargo airline Amerijet International.

A.P. Moller, Maersk Orders Two Boeing 777 Freighters

November 2, 2021 / WIL BALDWIN

COPENHAGEN, Denmark, Nov. 2, 2021 /PRNewswire/ — Boeing [NYSE: BA] and A.P. Moller – Maersk (Maersk) today announced the global provider of end-to-end container logistics has placed an order for two 777 Freighters. The freighters will be operated by Star Air, Maersk’s in-house aircraft operator and is the company’s first 777 order. Star Air currently operates an all-Boeing 767 Freighter fleet.

The 777 Freighter is the world’s largest, longest range and most capable twin-engine freighter. The airplane offers 17 percent better fuel efficiency and reduced CO2 emissions compared to legacy airplanes. With a range of 9,200 kilometers, the 777 Freighter can carry a maximum revenue payload of 102,000 kilograms, allowing Star Air to make fewer stops and reduce landing fees on long-haul routes.

The 777 Freighter is Boeing’s top-selling freighter of all time. Customers from around the world have ordered more than 300 777 Freighters since the program began in 2005. As the air cargo market continues to strengthen throughout the world, freight carriers turn to Boeing for its complete family of new and converted freighters. Boeing airplanes provide more than 90% of the worldwide dedicated freighter capacity.

Maersk is an integrated container logistics company working to connect and simplify its customers’ supply chains. As the global leader in shipping services, the company operates in 130 countries and employs approximately 80,000 people.

As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing’s diverse team is committed to innovating for the future and living the company’s core values of safety, quality and integrity. Learn more at www.boeing.com.

Lufthansa, Deutsche Bahn Settle Air Cargo Dispute

August 30, 2019 / WIL BALDWIN

German flag carrier Lufthansa and German national railway Deutsche Bahn have reached agreement on a long-festering dispute concerning an air cargo cartel.

The settlement was announced Aug. 26, although details are being kept confidential by mutual agreement.

The settlement ends a dispute before the Cologne regional court that has been ongoing since 2013.

Settling parties are DB Barnsdale, a wholly owned subsidiary of Deutsche Bahn, and Lufthansa Group member companies Lufthansa Cargo, Swiss International Air Lines and Deutsche Lufthansa.

Click the link for the full story! https://finance.yahoo.com/news/lufthansa-deutsche-bahn-settle-air-170533046.html

A.P. Moller – Maersk reports robust Q2 financial results in difficult market

Maersk expands its global air freight services with new Atlanta strategic air cargo hub

A.P. Moller, Maersk Orders Two Boeing 777 Freighters

Lufthansa, Deutsche Bahn Settle Air Cargo Dispute

Archives