Skip to content
CityAM
Main navigation
Sign Up
  • News
    • Latest News
    • Property
    • Media
    • Technology
    • Retail and leisure
    • Transport and infrastructure
    • Law & professional services
    • Legal Notices
    • Banking
    • Politics
    • CFA Institute Talk
  • Markets & Economics
    • Markets & Economics News
    • Economics
    • Markets
    • The Trend Micro Cybersecurity Knowledge Hub
    • Talk Crypto
    • M&A Talk
  • Crypto A.M.
    • Crypto News
    • Crypto Magazine
    • Crypto AM Summit & Awards 2022
  • Opinion
    • Features
    • Letters
    • The City View
  • Money
    • Jobs and Money News
    • Personal Development
    • Jobs
    • Fintech
    • Money
    • Personal Finance
    • Take control of your finances with these eight services
    • Warwick Business School
  • Unwind
    • Life & Style
    • Sport
    • The Punter
    • The Magazine
    • Travel
    • Sport Business
    • The Punter Podcast
    • Culture
    • Six Nations 2023
    • LIV Golf
    • Aramco Team Series
  • Impact A.M.
    • Impact A.M.
    • The DiverCity Podcast
    • Partner Hubs
  • Latest Paper
  • Jobs
  • CityAM Awards 2023
  • Charity

maersk

  • Shipping giant Maersk warns of profit slump as post-Covid boom comes to an end

    Container demand down

    Maersk has shrunk its profit expectations for 2023 as volumes and freight rates normalise after two booming years. The shipping giant announced today it expects its underlying EBITDA to be between $8bn (£6.6bn) and $11bn – 78 per cent down on last year’s $36.8bn. “Guidance is based on the expectation that inventory correction will be [...]

  • Maersk appoints logistics boss Vincent Clerc to top job

    NEW BOSS

    Maersk has appointed shipping veteran Vincent Clerc to the top job as outgoing boss Soren Skou stepped down after over six years at the company’s helm.   Chairman Robert M. Uggla said Clerc – who has led Maersk’s ocean and logistics branch since 2019 and will take over from Skou on 1 January – was the [...]

  • Maersk warns about future impact of China’s lockdowns despite record quarter

    Maersk

    Maersk has warned about the impact of China’s current lockdowns on its future performance, despite reporting record quarterly profits.  “Further challenges arise from the ongoing Covid-19 lockdowns in China, and while the impact on the first quarter is limited, it may worsen the congestion environment in coming quarters as the situation develops,” the company said [...]

  • Maersk raises guidance after record profits but warns boom will die down later

    April 26, 2022

    Maersk announced today it was raising its guidance for the year after it posted record profits for the first quarter. In the last three months, the group’s revenues went ahead of expectations to $19.3bn, while Maersk’s EBITDA amounted to $7.9bn. As a result of a 71 per cent increase in freight rates, the logistics giant [...]

  • Maersk follows MSC and halts cargo bookings in Russia

    March 1, 2022

    Logistics giant Maersk has followed in MSC’s footsteps and decided today to halt all cargo bookings to and from Russia. Maersk said yesterday it was considering whether to halt suspend all container bookings in Russia, following the set of restrictions imposed by the EU on Sunday night. “We are closely following the ever-evolving situation with [...]

  • Maersk considers suspending container bookings to Russia

    February 28, 2022

    Logistics giant Maersk said today it is considering whether to suspend all container bookings to and from Russia following the set of restrictions imposed yesterday by the EU. A land and ocean suspension of operations is among the sanctions under review. The group said it was closely monitoring the situation while it safeguards “our operations [...]

  • Meet WasteFuel, the company helping Maersk achieve its decarbonisation goals

    February 5, 2022

    Shipping giant Maersk has recently made industry headlines when it announced it had decided to anticipate its net-zero deadline by a decade. Maersk, the second largest shipping operator in the world, announced in January it would become net-zero by 2040, a decade before its original target. Instead of complying with the International Chamber of Shipping’s [...]

  • Maersk to become net zero by 2040, a decade before the initial target

    January 12, 2022

    Shipping giant Maersk has announced that, alongside its whole supply chain, it will become net zero by 2040, 10 years before the initial 2050 target. To dramatically cut its environmental impact, Maersk has set both near and medium-term targets, including a 50 per cent reduction in emissions per transport container as well as 70 per [...]

  • Maersk to buy Hong-Kong LF Logistics for $3.6bn

    December 22, 2021

    Shipping giant Maersk has agreed to buy Hong-Kong logistics company LF Logistics for $3.6bn. The deal, all-cash and one of the biggest ever made in Maersk’s history, will help the Copenhagen-based company expand its reach and capabilities in the Asia Pacific region. “With the acquisition of LF Logistics, we add critical capabilities in Asia Pacific [...]

  • Shipping delays will continue into next year, Maersk warns

    November 2, 2021

    The supply chain crisis will extend into next year, Maersk has warned today while the the world’s largest container shipping group sees profits rise. A shortfall in the number of truck drivers, particularly in Britain and the US, has stopped hundreds of container vessels from being able to deliver goods around the world, the group [...]

Posts navigation

  • Page 1
  • Page 2
  • Next

Trending Articles

  • Nearly every sector of UK economy powers away from feared recession

  • London proves Brexit doubters wrong to clinch Europe finance crown

  • UK inflation leaps to 10.4 per cent smashing Bank of England and City forecasts

  • FTSE 100 close: London index slips after of Bank of England interest rate hike

Subscribe

Subscribe to the City A.M. newsletter to have our top stories delivered directly to your inbox.

Subscribe
  • About us
  • Advertising
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • News
  • Markets & Economics
  • Opinion
  • Jobs and Money
  • Unwind
  • Crypto A.M.
  • The Punter
  • COP 26
  • Awards 2023

Follow us for breaking news and latest updates

  • Newsletters
  • Latest paper
  • Advertising
  • CryptoAM.io
  • Awards
  • About
  • Tickets
Copyright 2023 City A.M. Limited