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Red Sea Ship Attacks Not Driving Inflation, Moody's Says

Attacks on merchant ships in the Red Sea have increased shipping costs but have not impacted inflation, Moody’s Investor Services have said.

Freight Through Suez Canal Down 45% Since Houthi Attacks

Freight going through the Suez Canal has dropped by 45% in the two months since attacks by Yemen's Houthis led shipping groups to divert freight.

Maersk Enters Deal For Half A Million Tonnes Of Green Methanol Annually

Maersk recently announced that it had entered into the shipping industry's first large-scale agreement for green methanol from China's Goldwind, and said p...

Hapag-Lloyd Posts 77% Drop In Nine-Month Net Profit, Cuts Outlook

German container shipper Hapag-Lloyd recently posted a net profit of €3.2 billion for the first nine months of 2023, down by 77% from a year earl...

Maersk To Cut 10,000 Jobs, Sees Weaker Full Year Profit As Shipping Demand Wanes

Shipping group A.P. Moller-Maersk recently reported a steep drop in profit and revenue in the third-quarter, and said it would cut 10,000 jobs as it b...

Global Freight Cycle May Have Reached Lowest Point: Kemp

Global freight volumes show signs of having bottomed out in the first quarter.

Maersk Expects Recent Drop In Container Demand To Stabilise By Mid-Year

Shipping group Maersk on Thursday reported first-quarter earnings above expectations and maintained its 2023 profit guidance ...

Maersk Warns Lower Container Volumes To Hit 2023 Profits

Shipping group A.P. Moller-Maersk warned on Wednesday lower container volumes and freight rates would drive a four-fold plunge in profits this year, e...