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☆ Lego revenue jumps 13% in first half of 2024, boosted by Lego Fortnite and diverse brick sets
▼ + stars: | 2024-08-28 | by ( Sarah Whitten | ) www.cnbc.com time to read: +2 min

Costfoto | Nurphoto | Getty ImagesAn inflation-fueled sales slump hit the toy industry in the first half of 2024, but one company is gaining market share brick by brick. On Wednesday, Lego said revenue during the first six months of the year jumped 13%, reaching 31 billion Danish kroner, or about $4.65 billion. Last year, Lego saw a trend of consumers "trading down" or opting for lower-priced sets, while still buying the same volume as the year before. Lego has continued to build on pandemic-era growth with a diverse slate of products that cater to kids and adults alike. Sales in the U.S. and Europe remain strong, Christiansen noted, while China sales are flat.

Persons: Niels Christiansen, Christiansen, Barbie, Harry Potter Organizations: Nurphoto, CNBC, Epic, Mattel, Hasbro, Star, Sustainability Locations: Shanghai, China, Danish, U.S, Europe

☆ What Google, Meta, Amazon, and other tech workers should wear this summer
▼ + stars: | 2024-05-29 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewTech's top players are switching over to their summer styles — and workers should follow suit if they want to dress to impress. Still, tech workers have begun hiring stylists to help them dress better for work. Here's what fashion experts believe tech workers should be wearing this summer. Advertisement"Heading into the summer season, I can see the entry-level tech crowd wearing something clean and understated," Carol Altieri, COO of Bob's Watches told Business Insider.

Persons: —, Mark Zuckerberg, Jeff Bezos, Bill Gates, Sergey Brin, Eddie Hernandez, henley, Fitch, Hernandez, Niels, Gates, accessorizing, Zuckerberg, Carol Altieri, Bob's, Altieri, Ria Papasifakis, Linda Yaccarino, Papasifakis Organizations: Service, Business, San Francisco, Meta, Abercrombie, Fitch, Norse, Adidas, Cosmopolitan, Rolex, Ritani Tech, Bob's Watches Locations: Ritani

TradeBiden has left some of Trump's tariffs in place, illustrating the protectionist bent that continues to take hold in Washington. Biden has left some of Trump's tariffs in place, illustrating the protectionist bent that continues to take hold in Washington. As president, Trump fixated on the US trade deficit even as some economists argued against reading too much into such figures. He didn't see the fruits of his biggest trade deal, which went into effect in July 2020: the USMCA, a revamped North American trade deal known Experts at Brookings Institution have praised the treaty for growing regional trade. Trump has pledged to kill the Biden administration's new Asian trade talks, which the former president has dubbed "TPP two."

Persons: Biden, Niels Wenstedt, Trump, Katherine Tai, Sen, Elizabeth Warren, Barack Obama Organizations: BSR Agency, Getty, Republican Party, American Free Trade, World Trade Organization, Big Tech, Trump, Bloomberg News, Brookings Institution, TransPacific, US, Biden, Politico Locations: Washington, China, American, Mexico, Beijing

The military said that only the booster was activated, not the engine that takes over after launch, and not the warhead, so the missile could not travel far and the warhead could not detonate. The missile test on Thursday was conducted aboard a frigate, the Niels Juel, in the port of Korsør, which sits beside the Great Belt. The Great Belt is the strait between Denmark’s two largest islands, Zealand and Funen, and is part of the main shipping route between the North Sea and the Baltic Sea. “From those I have spoken to in the Navy, they are taking it very calmly,” said Søren Nørby, an assistant professor at the Norwegian Defense Academy. If it goes off, there is about 52 kilograms of metal object flying and falling down.”

Persons: Flemming Lentfer, Niels Juel, ”, Søren Nørby Organizations: Navy, Norwegian Defense Academy, “ Locations: U.S, Yemen, Korsør, Zealand, Funen, Baltic

☆ Denmark closes major shipping strait over faulty missile launcher
▼ + stars: | 2024-04-04 | by ( Caitlin Danaher | Antonia Mortensen | ) edition.cnn.com time to read: +1 min

CNN —Denmark has closed one of the world’s busiest shipping lanes over an activated but malfunctioning missile launcher on a Danish navy ship, the country’s military said Thursday. The Niels Juel ship is stationed in Denmark’s Great Belt strait, the main maritime gateway to the Baltic Sea. “Until the booster is disabled, there is a risk that the missile could launch and fly several kilometers away,” it said. The missile is not in the direction of the Great Belt Bridge. The air space in the area is also currently closed, the military said.

Persons: Niels Juel Organizations: CNN —, Naval Locations: CNN — Denmark, Danish, Baltic

☆ Parents bought way fewer toys last year — except for 1 classic
▼ + stars: | 2024-03-12 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

Despite the "most negative toy market in 15 years," Lego said consumer sales grew 4% last year. The Danish toy icon outperformed competitors like Mattel and Hasbro. Toys are cheaper than ever, much to the chagrin of millennial parents. It's a brutal climate for toymakers, but Lego said it outpaced the market in 2023, with consumer sales growing 4%. "We are pleased with our performance given that 2023 was the most negative toy market in more than 15 years," Niels B. Christiansen, CEO of the Danish toy icon, said in a statement.

Persons: —, Niels B, Christiansen Organizations: Mattel, Hasbro, Service, Business Locations: Danish

☆ Lego revenue ticks higher in 2023, despite trade-downs and China pullback
▼ + stars: | 2024-03-12 | by ( Sarah Whitten | ) www.cnbc.com time to read: +3 min

The Lego company grew sales 2% last year, even as the global toy industry saw sales slip 7%, according to data from Circana. The pandemic-era gains that fueled exponential toy industry sales growth waned in 2023 as consumers cut discretionary spending amid rising inflationary costs and increased credit card debt. Meanwhile Denmark-based Lego posted resilient sales, with revenue reaching 65.9 billion Danish krone, or about $9.65 billion, it said Tuesday. The company saw sales jump 27% in 2021 and 17% in 2022. The toymaker's top-performing brands last year included Lego Icons, Lego Technic, Lego City, Lego Harry Potter and Lego Star Wars.

Persons: Niels Christiansen, Harry Potter, Christiansen, Lego, We're Organizations: CNBC, Lego, Lego Star, Epic Games Locations: Denmark, Lego City, China

☆ Lego revenue grows 2% in 2023, as CEO hails 'very, very strong' U.S. progress
▼ + stars: | 2024-03-12 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Lego said its 2023 revenue was 2% higher compared to the previous year, growing to 65.9 billion Danish krone (around $9.65 billion). "It was a difficult year," Lego CEO Niels Christiansen told CNBC. The Danish toymaker said operating profit declined slightly from 17.9 billion Danish krone to 17.1 billion, noting that it had boosted spending on strategic initiatives designed to drive growth. Net profit came in at 13.1 billion Danish krone in 2023, compared to 13.8 billion the previous year. Toy company Hasbro earlier this month said its 2023 revenue fell by 15% compared to 2022 and that it expected to see a further decline this year.

Persons: Lego, Niels Christiansen, toymaker Organizations: CNBC, Toy, Hasbro Locations: China, U.S, Europe

☆ ‘Vittrup Man’ was a Stone Age migrant before his violent death
▼ + stars: | 2024-02-15 | by ( Ashley Strickland | ) edition.cnn.com time to read: +7 min

What the team discovered while piecing together Vittrup Man’s life is shedding light on the movements and connections between different Stone Age cultures. Vittrup Man was likely born and grew up along the coast of the Scandinavian Peninsula, perhaps within the frigid climes of Norway or Sweden. Studying Vittrup Man has helped researchers gain insights about the genetics, lifestyles and ritual practices that can be traced to Stone Age societies, Sjögren said. A cartoon included with the new research depicts how Vittrup Man was possibly sacrificed in a swamp. But it’s also possible that Vittrup Man was in the wrong place at the wrong time.

Persons: “, ”, Anders Fischer, piecing, Vittrup, Karl, Göran Sjögren, Lasse Sørensen, ” Sørensen, Sjögren, ” Fischer, Fischer, Niels Bach, Kristian Kristiansen, it’s, Roy van Beek, Van Beek, ” van Beek Organizations: CNN, Stone, University of Gothenburg, National Museum, Wageningen University & Research Locations: Denmark, Northern Europe, Vittrup, Sweden, Sealand, Norway, Scandinavia, subsisting, Copenhagen, Europe, Netherlands

☆ Painting by Denmark’s Queen Margrethe II to go up for auction
▼ + stars: | 2024-01-31 | by ( Jack Guy | ) edition.cnn.com time to read: +3 min

CNN —A painting by Denmark’s former monarch, Queen Margrethe II, is going up for auction. “You now have the opportunity to acquire a very special – and not least royal – work of art,” said the auction house, which has set an estimate of 75,000–100,000 Danish kroner ($11,000-$15,000). The painting dates from 1988, the year that Margrethe started to exhibit her art officially. Queen Margrethe at an exhibition of her work in January 2012 Keld Navntoft/Scanpix Denmark/AFP/Getty Images“The queen found her inspiration for the painting up for auction in the natural world, expressing it in a lyrical idiom. “We are very much looking forward to offering this work by H.M. Queen Margrethe II, which testifies to her immense passion for and prolificacy within art and creative work,” he added.

Persons: Denmark’s, Queen Margrethe II, Bruun Rasmussen, “, ”, Margrethe, Hans Sølvhøj, Queen Margrethe, Keld, ” Niels Boe, H.M, Boe, Hauggaard, “ Queen Margrethe, Frederik, King Frederik X Organizations: CNN, Getty, Contemporary, CNN’s Royal Locations: Scanpix Denmark, AFP, Denmark, Copenhagen

According to data firm Preqin, only one emerging markets greenfield renewables fund has raised more than Copenhagen wants to amass, although the 2014 $3.26 billion Guangzhou City Development Industry Fund is focused on China. While a deal to phase out fossil fuels has been hard to agree, more than 60 countries have backed a global agreement to triple renewable energy this decade. The growth in demand for electricity is enormous," he told Reuters, adding that renewable energy was often the cheapest energy source. Founded in 2012, Denmark's Copenhagen manages 26 billion euros ($28.3 billion) of assets and runs 12 funds. Recent development projects include an offshore wind farm in Bangladesh and the first 100% foreign-owned offshore wind energy schemes in the Philippines.

Persons: Niels Holst, Holst, Simon Jessop, Tommy Reggiori Wilkes, Jan Harvey Organizations: Copenhagen Infrastructure Partners, Reuters, Guangzhou City Development Industry Fund, Denmark's, Thomson Locations: DUBAI, Copenhagen, China, Dubai, Britain, Denmark's Copenhagen, Bangladesh, Philippines, Asia, Pacific, America

☆ Chinstrap penguins take thousands of 4-second naps a day so they can stay alert and guard their newborns around-the-clock, researchers say
▼ + stars: | 2023-12-04 | by ( Christina Larson | Associated Press | ) www.businessinsider.com time to read: +4 min

Chinstrap penguins take catnaps instead sleeping for a long period of time, researchers found. Chinstrap penguins in Antarctica need to guard their eggs and chicks around-the-clock in crowded, noisy colonies. Chinstrap penguins, named for the thin line of black facial feathers resembling a chinstrap, usually lay their eggs in pebble nests in November. For the first time, the scientists tracked the sleeping behavior of chinstrap penguins in an Antarctic breeding colony by attaching sensors that measure brain waves. "For these penguins, microsleeps have some restorative functions — if not, they could not endure," he said.

Persons: —, Niels Rattenborg, Max Planck, Chinstrap, King, King George Island, Won Young Lee, Paul, Antoine Libourel, Daniel Paranhos Zitterbart Organizations: Service, WASHINGTON, Max, Max Planck Institute for Biological Intelligence, Korean Polar Research, Neuroscience Research, of Lyon, Penguins, Oceanographic, Associated Press Health, Science Department, Howard Hughes Medical Institute's Science, Educational Media Group, AP Locations: Germany, King George, Antarctica, France, Massachusetts

WASHINGTON (AP) — It's a challenge for all new parents: Getting enough sleep while keeping a close eye on their newborns. For some penguins, it means thousands of mini-catnaps a day, researchers discovered. Chinstrap penguins in Antarctica need to guard their eggs and chicks around-the-clock in crowded, noisy colonies. These short “microsleeps,” totaling around 11 hours per day, appear to be enough to keep the parents going for weeks. “For these penguins, microsleeps have some restorative functions — if not, they could not endure,” he said.

Persons: —, ”, Niels Rattenborg, Max Planck, “, King, King George Island, Won Young Lee, Paul, Antoine Libourel, Daniel Paranhos Zitterbart Organizations: WASHINGTON, Max, Max Planck Institute for Biological Intelligence, Korean Polar Research, Neuroscience Research, of Lyon, “ Penguins, Oceanographic, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: Germany, King George, Antarctica, France, Massachusetts

☆ Sam Altman supporters are posting hilarious memes about what it will be like if he returns
▼ + stars: | 2023-11-19 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

AdvertisementJust a day after OpenAI's board fired its 38-year-old CEO, Sam Altman , talks had already begun to bring him back on board. "Sam Altman returning to the OpenAI headquarters on Monday as the CEO," PJ wrote on X.Sam Altman returning to the OpenAI headquarters on Monday as the CEO. Advertisement"POV: Sam Altman returning to the OpenAI office on Monday." Sam Altman reintroducing himself as K-pop star PsyThe K-pop artist behind the viral hit, Gangnam Style, burst on stage via a trap door for a concert in September. "Live footage of Sam Altman getting ready to return as OpenAI CEO," the user wrote.

Persons: Sam Altman's, Altman, —, Sam Altman, David Byrne, Entourage's Ari Gold Daniel Merja, Ari Gold, pic.twitter.com, jwD6rEZEMY — Daniel ∞, Merja, Sam Altman strutting, PJ, LjJZMWQlAO — PJ, Roy Williams, 2qBmWsePis — Niels Rogge, ChatGPT Organizations: Service, Founders Committee Ventures, UNC, University of North Carolina men's, Duke University Locations: OpenAI, Silicon Valley, Scottish

☆ Before-and-after images show how Greenland’s glaciers have rapidly retreated
▼ + stars: | 2023-11-12 | by ( Rachel Ramirez | ) edition.cnn.com time to read: +3 min

Now housed in the Danish National Archives, the historical images inspired her and other researchers to reconstruct the territory’s glacial history and how it has changed amid a rapidly warming climate. The comparison found Greenland’s glaciers have experienced an alarming rate of retreat that has accelerated over the last two decades. For the first time on record, it rained at the summit of Greenland — roughly two miles above sea level during the summer of 2021. Earlier this week, scientists found that northern Greenland’s huge glaciers, which were long thought to be relatively stable, now pose potentially “dramatic” consequences for sea level rise. “[The paper] really reinforces that our choices over the next few decades and how much we reduce our emissions really matter to these glaciers,” Larocca said.

Persons: Laura Larocca, of Denmark Niels Jakup, Niels Jakup Korsgaard, ”, Larocca, Hans Henrik Tholstrup, University of Copenhagen Larocca, ” Larocca Organizations: CNN, Danish National Archives, of, of Denmark, Arizona State University School of Ocean Futures, Danish Agency, Datasupply, University of Copenhagen The Danish Agency, University of Copenhagen Locations: Denmark, Copenhagen, Greenland, of Denmark, Danish

☆ Are Fears of A.I. and Nuclear Apocalypse Keeping You Up? Blame Prometheus.
▼ + stars: | 2023-10-21 | by ( A.O. Scott | More About A.O. Scott | ) www.nytimes.com time to read: +2 min

The atomic bomb may be, for the soldiers and politicians, a powerful strategic tool in war and diplomacy. He snatched a spark of quantum insight from those divinities and handed it to Harry S. Truman and the U.S. Army Air Forces. (The notable exception is Edward Teller, the father of the hydrogen bomb and as such another potential Prometheus.) Like the original Prometheus, Oppenheimer survives his disgrace, and ends the movie as a flawed, haunted, regretful creature, carrying a flicker of inextinguishable, theoretical guilt. A.I., on the other hand, seems newly sprung from science fiction, and especially terrifying because we can’t quite grasp what it will become.

Persons: Oppenheimer, “ Oppenheimer, —, Oppenheimer wasn’t, Niels Bohr, Erwin Schrödinger, Werner Heisenberg, Harry S, Truman, ”, Edward Teller, von Neumann Organizations: U.S . Army Air Forces Locations: Hiroshima, Nagasaki

☆ ‘Rivals’ Review: An Experiment in Amiability
▼ + stars: | 2023-10-18 | by ( David A. Shaywitz | ) www.wsj.com time to read: +1 min

The physicists Niels Bohr and Albert Einstein disagreed strongly on various points yet remained close friends. He hoped to deduce all observable phenomena—the paths of planets, the beating of the heart—from a few foundational laws or principles. After years of effort, and despite triumphs such as the invention of analytic geometry, he conceded defeat. But he had little interest in engaging with other researchers or relying on the assistance of volunteers (who would distract him with “useless conversation”). Descartes, explains the historian of science Lorraine Daston, “was probably the last major thinker to believe that science could be conducted in splendid solitude.”

Persons: Niels Bohr, Albert Einstein, René Descartes, Descartes, Lorraine Daston, “, ” Organizations: Getty

☆ Albert Einstein used to ponder these 5 mind-melting questions for fun. Can you figure them out?
▼ + stars: | 2023-10-06 | by ( Ali Sundermier | Jenny Mcgrath | ) www.businessinsider.com time to read: +7 min

"One sees in this paradox the germ of the special relativity theory is already contained," Einstein wrote in his "Autobiographical Notes." This is a cornerstone of Einstein's special theory of relativity. One of Einstein's thought experiments had to do with quantum entanglement, which he called "spooky action at a distance." AdvertisementAdvertisementMany scientists have spent decades researching Einstein's thought experiments. But Einstein thought particles behaved more like real coins.

Persons: Albert Einstein, —, Stringer, Einstein, simultaneity, Ernst Haas, Niels Bohr Organizations: Service, Central Press, Getty

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. Traders have been on watch for weeks for a possible intervention by Japanese officials to combat a sustained depreciation in the yen. "It could just be people expecting intervention and then reacting to what they believed to be intervention," said Asher. To support the Japanese currency, authorities need to tap Japan's foreign reserves of dollars to sell for yen. A senior Japanese ministry of finance official declined to comment on whether Japan had intervened in foreign exchange markets.

Persons: Florence Lo, Michael Brown, Brown, Colin Asher, Asher, Niels Christensen, Jeremy Stretch, Edward Moya, Stretch, Tuesday's, Chuck Mikolajczak, Samuel Indyk, Saqib Iqbal Ahmed, Gertrude Chavez, Dreyfuss, Dhara Ranasinghe, Lucy Raitano, Ira Iosebashvili, Megan Davies, Jonathan Oatis, Andrea Ricci, Hugh Lawson, Gareth Jones Organizations: U.S, REUTERS, Trader, Mizuho, Nordea, Bank of Japan, New York Federal Reserve, CIBC Capital Markets, Ministry, Finance, Seven, Japan, Thomson Locations: TOKYO, London, Copenhagen, Japan, U.S, Tokyo, Asia, New York, United States

☆ Lego abandons effort to make oil-free bricks, Financial Times reports
▼ + stars: | 2023-09-24 | by ( ) www.reuters.com time to read: +1 min

[1/2] Sets of Lego bricks are seen at a toy store in Bonn, Germany, September 5, 2017. It's just not been possible to find a material like that," Lego Chief Executive Niels Christiansen told the Financial Times. Lego had earlier pledged to replace oil-based plastic bricks with ones made from sustainable materials by the end of the decade. The company had kicked off efforts in 2020 to replace its plastic bricks by sustainable materials. The difficulty was to find a material that would be environment friendly but give the same color, shine and sound of an oil-based plastic bricks.

Persons: Wolfgang Rattay, Niels Christiansen, Shubhendu Deshmukh, Lisa Shumaker Organizations: REUTERS, Financial Times, Lego, Reuters, Thomson Locations: Bonn, Germany, Bengaluru

☆ Pound, franc slide as central banks pause hikes; dollar holds firm
▼ + stars: | 2023-09-21 | by ( Samuel Indyk | ) www.reuters.com time to read: +4 min

The euro rose as high as 0.9677 francs and is set for its biggest one-day rise since June. The dollar rose 0.8% to 0.9053 francs , hitting its highest level since June 13. "The Swiss franc has understandably weakened after the surprise hold in the policy rate today," ING strategists said in a note. Meanwhile, Sweden's Riksbank and Norway's central bank both raised rates by 25 basis points, in line with expectations. Although you never know for sure with this central bank," said Matt Simpson, senior market analyst at City Index.

Persons: Dado Ruvic, Sterling, Goldman Sachs, Michael Cahill, Sweden's, Niels Christensen, Matt Simpson, Samuel Indyk, Brigid Riley, Kevin Buckland, Sam Holmes, Shri Navaratnam, Sharon Singleton Organizations: REUTERS, Swiss, British, U.S . Federal Reserve, Friday's Bank of Japan, Bank of England, Swiss National Bank, ING, Fed, Bank of Japan, New Zealand, NZ, Thomson Locations: Swiss, Sweden, Norway, Swedish, Norwegian

☆ Google and the Department of Defense are building an AI-powered microscope to help doctors spot cancer
▼ + stars: | 2023-09-18 | by ( Ashley Capoot | ) www.cnbc.com time to read: +9 min

Zafar turned to his microscope – a canonically beloved tool in pathology that the doctors rely on to help make their diagnoses. It's an artificial intelligence-powered microscope built by Google and the U.S. Department of Defense. The AI-powered tool is called an Augmented Reality Microscope, or ARM, and Google and the Department of Defense have been quietly working on it for years. When a glass slide is prepared and fixed under the microscope, the AI is able to outline where cancer is located. For many smaller health systems, digitization is not yet worth the hassle.

Persons: Niels Olson, Nadeem Zafar, Zafar, Zafar's, Mitre Ashley Capoot, Mitre, it's, Ashley Capoot, CNBC Patrick Minot, Minot, Olson, It's, Aashima Gupta, Gupta Organizations: Microscope, U.S . Department of Defense, Google, CNBC, ARM, Department of Defense, Mitre, Minot, Defense Innovation Unit, U.S . Navy, Naval, Naval Medical Center Locations: Seattle, Mitre, Washington ,, DIU, Guam, U.S, Micronesia, San Diego, Mountain View , California

COPENHAGEN, Aug 30 (Reuters) - Lego continued to take market share in the first six months of the year even as the toy market declined and Chinese consumers returned to stores at a slower pace than expected, the Denmark-based toymaker said on Wednesday. By comparison, Lego grew sales 17% last year and 27% the year before. "But we've taken market share and have grown 10% faster than the market." The company's consumer sales grew 3% in a market that declined by 7%, meaning it grabbed market share from competitors like Hasbro (HAS.O) and Barbie-maker Mattel (MAT.O). He said he believes Lego can continue opening stores at the same pace for another five to 10 years.

Persons: toymaker, Niels Christiansen, Christiansen, Jacob Gronholt, Pedersen, David Holmes Organizations: Reuters, Hasbro, Mattel, Eiffel, Thomson Locations: COPENHAGEN, Denmark, China

☆ Lego sales increase while other toy makers struggle
▼ + stars: | 2023-08-30 | by ( Sarah Whitten | ) www.cnbc.com time to read: +3 min

While other toy companies struggle with an inflation-fueled sales slump, Lego is building positive results brick by brick. Meanwhile, publicly traded rivals such as Mattel , Hasbro , Funko and Jakks Pacific have all reported double-digit revenue and sales declines so far this year. "I think what makes me very satisfied is this fact that we continue to outgrow the industry," CEO Niels Christiansen told CNBC. Toy companies across the industry saw massive gains during the Covid-19 pandemic, as parents looked for ways to keep their kids occupied during lockdowns. The region is newly exposed to the iconic building bricks and physical locations have helped show adults and children how to play with Lego.

Persons: Niels Christiansen, we've, Christiansen, That's Organizations: Mattel, Hasbro, Funko, Jakks, CNBC, lockdowns, U.S ., Star Locations: Danish, Mexico, Virginia, China

☆ Container ships are waiting at Asian ports as retailers struggle to shift excess stock
▼ + stars: | 2023-08-25 | by ( Lucy Handley | ) www.cnbc.com time to read: +5 min

As firms making goods from apparel to electronics hold excess stock, there's less of a demand to ship products. This means some vessels are waiting in ports because of sailings being "blanked," or canceled. "We are arranging a contingency plan with alternative services," MSC added. "If you fly to Singapore, you'll see all these ships outside the port … A lot of ships are parked there waiting till there are better yields," he added. Excess stockFlexport, which is at 10th place in CNBC's Disruptor 50 list, regularly surveys customers on how much stock they're holding.

Persons: Andrew Merry, It's, Sanne Manders, there's, Manders, Bernstein, Niels Rasmussen, Rasmussen, it's, Simon Heaney, Heaney Organizations: MSC, CNBC, CMA CGM, Maersk, Baltic and International Maritime Council, Shanghai Shipping Exchange, Blank, Drewry Locations: Singapore Strait, Asia, Europe, —, Singapore, East, North Europe, CNBC's

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