Each year about 90% of world trade is transported by ship, according to the World Economic Forum. While commodities like oil and grain make up 40% of that cargo, large steel containers, filled with appliances, smartphones, and couches, make up the remainder. With its fleet of over 670 vessels, Maersk, one of the world’s largest … Read more
View of stranded boats at Alhajuela Lake during the summer drought, in Colon province, 50 km north of Panama City, Panama, on April 21, 2023. The Alhajuela lake is one of the main lakes that supplies water to the locks of the Panama Canal and is at its lowest level of recent years. Luis Acosta … Read more
The Maersk Sentosa container ship sails southbound to exit the Suez Canal in Suez, Egypt, on Thursday, Dec. 21, 2023. Stringer | Bloomberg | Getty Images Danish shipping giant Maersk said Friday it would extend its diversion of vessels from the Red Sea for the “foreseeable future” due to safety concerns amid a spate of … Read more
A cargo ship crosses the Suez Canal, one of the most critical human-made waterways, in Ismailia, Egypt on December 29, 2023. (Photo by Fareed Kotb/Anadolu via Getty Images) Anadolu | Getty Images The threat to global trade in the Red Sea remains high, even with efforts to protect commercial vessels from attacks by Iranian-backed Houthi … Read more
Shipping company Maersk posted record annual earnings for 2022 but warned that profits are set to tumble this year as a “more balanced demand environment” emerges. Picture Alliance | Picture Alliance | Getty Images Maersk will pause all shipping transit through the Red Sea and Gulf of Aden until further notice after one of its … Read more
Danish shipping giant Maersk confirmed on Tuesday that its vessels due to transit the Red Sea and Gulf of Aden would take the Cape of Good Hope route around the south of Africa after a spate of attacks by Houthi militants from Yemen. Along with a host of other firms, the company had previously announced … Read more
An oil tanker anchored in the Red Sea off the coast of Yemen’s contested western province of Hodeida on July 15, 2023. Mohammed Huwais | Afp | Getty Images Oil prices traded mixed Tuesday as tankers shun the Red Sea on the back of heightened attacks by Iran-backed Houthi militants which have disrupted international shipping … Read more
The Hamburg flag flies in front of Hapag-Lloyd containers on the Hapag-Lloyd containership “Berlin Express” at Burchardkai in the Port of Hamburg. Marcus Brandt | Picture Alliance | Getty Images Two shipping giants, Hapag-Lloyd and Maersk, are pausing their travel through the Red Sea and the Bab el-Mandeb Strait in the Middle East following a … Read more
The container ship Maersk Murcia sits moored in the port of Gothenburg, Sweden, on August 24, 2020. JONATHAN NACKSTRAND | AFP | Getty Images Shipping giant Maersk, a bellwether for global trade, on Friday announced plans to reduce its workforce by more than 10,000 people and said it expected profit to be at the low … Read more
A.P. Moller-Maersk, is without doubt one of the world’s largest container shippers with a market share of round 17%, and is broadly seen as a barometer of worldwide commerce. Andia | UIG through Getty Pictures Copenhagen, DENMARK — Delivery big Maersk on Thursday offered its first container vessel moved with inexperienced methanol, a landmark second … Read more