Denmark’s Vestas and rival Siemens Gamesa have failed to turn booming demand for wind farms into higher earnings. Increased prices to offset soaring raw material costs will take several years to kick in. But now wind power is cheaper than fossil fuels, price pressures are easing.
A.P. Moller-Maersk is in an enviable position. The $52 billion Danish shipping titan raised its 2022 guidance on Tuesday thanks to soaring container rates caused by more pandemic-related disruption at Chinese ports. The company, which shifts around 17% of the world’s shipping containers, reckons it will deliver more than $19 billion in free cash flow, .
Britain and Denmark want to outsource asylum processing to the East African nation infamous for its 1994 genocide. Regardless of their motives, it chimes with leader Paul Kagame’s plan to build an offshore services hub. Handling refugees looks mercenary but supports his goal.
The dynasty may merge its Autogrill chain with $4 bln Swiss duty-free specialist Dufry. Though slightly bigger, the latter is suffering the worse Covid-19 hangover. Even though they’re surrendering control, the Benettons would still have a strong hand to get a good deal.
Norway’s Frontline and Belgium-listed Euronav are making an early call on peak oil. The pair said on Thursday combination-between-frontline-ltd-and-euronav-nv they were embarking on a $4.2 billion merger that will control 8% of the world’s crude tanker fleet. There’s scope for more defensive alliances given oil demand is set to fall in the latter part of .