Maersk reports record profit amid high freight rates May 5, 2021, by Naida Hakirevic
Danish shipping and logistics giant A.P. Moller – Maersk delivered an exceptionally strong performance in Q1 2021 with a record profit for the quarter.
Overall in Q1, EBITDA increased to $4 billion from $1.5 billion year on year and EBIT to $3.1 billion from $552 million compared to same quarter last year, while revenue improved by 30 percent to $12.4 billion.
The company benefitted from strong demand in a market still influenced by the pandemic and significant disruptions in global supply chains.
According to the company, the results reflect the high volumes, which are up 5.7 percent, significant increases in freight rates of 35 percent and lower bunker fuel prices.
Hapag-Lloyd cuts sulphur oxide emissions by 70 pct in 2020 offshore-energy.biz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from offshore-energy.biz Daily Mail and Mail on Sunday newspapers.
US: MSC Gayane crewman gets 5+ years in prison for smuggling cocaine April 14, 2021, by Naida Hakirevic
A crew member of containership MSC Gayane was sentenced to more than five years in prison for attempting to smuggle cocaine worth over $1 billion into the United States two years ago.
Vladimir Penda, 27, of Montenegro, was sentenced to five years and ten months in prison, and two years of supervised release by United States District Court Judge Harvey Bartle III, on charges of conspiracy to possess with intent to distribute 5 kilograms or more of cocaine on a vessel subject to the jurisdiction of the United States, Acting United States Attorney
2021/04/07 14:06 China s Yuncheng missile frigate pictured in the Netherlands in 2015. (Wikicommons, Kees Torn photo) China s Yuncheng missile frigate pictured in the Netherlands in 2015. (Wikicommons, Kees Torn photo) TAIPEI (Taiwan News) Chinese naval ships recently appeared near Taitung County’s Orchid Island as Taiwan prepares for several rounds of missile tests off its southeast coast, reports said Wednesday (April 7). Cross-strait tensions remain high as the communist country continues to send military aircraft into the southwestern region of Taiwan s air defense identification zone (ADIZ) on an almost daily basis. On Tuesday morning (April 6), the People’s Liberation Army Navy (PLAN) guided-missile frigate the Yuncheng was spotted 70 nautical miles (129.6 kilometers) east of Orchid Island moving north to avoid being tracked by Taiwan s military, CNA reported.
FreightWaves Classics: America’s commercial shipbuilding industry is nearly gone Maersk ships arriving in Los Angeles (Photo: APM Terminals)
The history of the American shipbuilding industry goes back to before the Revolutionary War. The United States is blessed with three extensive coastlines, as well as numerous ports and harbors that have been the sites of shipbuilding companies for more than 250 years.
Although it is no longer true, at one time in the not too distant past the U.S. commercial shipbuilding industry led the world in quality and output.
This article will focus on the U.S. merchant shipbuilding industry in the 20th century.