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REUTERS/Jon Nazca/File photo Acquire Licensing RightsSummaryCompanies Signals sharp downturn in demandTo review share buyback program for 2024Says industry facing overcapacity and lower prices, demandShares down more than 10% to lowest in three yearsCOPENHAGEN, Nov 3 (Reuters) - Shipping group A.P. Moller-Maersk (MAERSKb.CO), reported a steep drop in third-quarter profit and revenue on Friday and said it would cut at least 10,000 jobs in the face of overcapacity, rising costs and weaker prices. Shares in the Copenhagen-based group slid 11.1% by 0904 GMT, to their lowest level in three years. The group already warned in August of a steeper decline in global demand for shipping containers by sea this year. Reporting by Jacob Gronholt-Pedersen and Louise Rasmussen, editing by Terje Solsvik, Miral Fahmy, Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

Persons: Jon Nazca, Moller, Vincent Clerc, Morten Holm Enggaard, Maersk, Jacob Gronholt, Pedersen, Louise Rasmussen, Terje Solsvik, Miral Fahmy, Elaine Hardcastle Organizations: Triple, Majestic, APM, REUTERS, Shipping, Maersk, Walmart, Nike, Jyske Bank, Thomson Locations: Algeciras, Spain, COPENHAGEN, Copenhagen

[1/2] Containers are seen on the Maersk's Triple-E giant container ship Majestic Maersk, one of the world's largest container ships, next to cranes at the APM Terminals in the port of Algeciras, Spain January 20, 2023. REUTERS/Jon Nazca/File photo Acquire Licensing RightsSummaryCompanies Signals sharp downturn in demandTo review share buyback program for 2024Says industry facing overcapacity and lower prices, demandShares down 17.5% to lowest in three yearsCOPENHAGEN, Nov 3 (Reuters) - Shipping group A.P. Moller-Maersk (MAERSKb.CO), reported a steep drop in third-quarter profit and revenue on Friday and said it would cut at least 10,000 jobs in the face of overcapacity, rising costs and weaker prices, sending its shares tumbling. The industry invested heavily in new container ships during and after the pandemic to meet strong demand and benefit from record freight rates. A large number of new ships entered the market since the summer with no signs of idling or scrapping, said Clerc.

Persons: Jon Nazca, Moller, Vincent Clerc, Clerc, Morten Holm Enggaard, Maersk, Jacob Gronholt, Pedersen, Louise Rasmussen, Johannes Birkebaek, Terje Solsvik, Miral Fahmy, Elaine Hardcastle Organizations: Triple, Majestic, APM, REUTERS, Shipping, Maersk, Walmart, Nike, Jyske Bank, Revenues, Thomson Locations: Algeciras, Spain, COPENHAGEN, North America, Copenhagen

☆ Choppy waters as Europe navigates China-US rivalry
▼ + stars: | 2023-10-04 | by ( Mark John | ) www.reuters.com time to read: +6 min

The fracturing of the rules and bonds tying the global economy together - so-called "geo-economic fragmentation" - seemed implausible only a few years ago. Nowhere is it more pressing than for Europe, whose wealth has always relied on trade, from its rapacious colonial history through to its reinvention as self-styled champion of WTO rules. Both the United States and Europe have been hardening their stance towards Beijing while stressing the rules of world trade must be fairly applied. The main EU concern is that the U.S. proposals could break WTO rules by discriminating against third parties. "And we really hope ... that after the election in the United States this is going to continue."

Persons: Jon Nazca, Gordon Brown, Brown, Brad Setser, Biden, Joe Biden, Donald Trump, Trump, Wang Huiyao, Petra Sigmund, Philip Blenkinsop, Joe Cash, Belen Carreno, Mark John, Catherine Evans Organizations: Triple, Majestic, APM, REUTERS, Trade Organization, USA, International Monetary, European, Reuters, for, Thomson Locations: Algeciras, Spain, China, Europe, America, American, United States, Moroccan, Marrakech, Beijing, Washington, Brussels, U.S, EU, for China, IMF, Madrid

☆ Two measures of global corporate health flash red
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +5 min

Moller-Maersk (MAERSKb.CO) lowered its estimate for global container trade this year as companies reduce inventories and higher interest rates and recession risks in Europe and the United States drag on global economic growth. The company, one of the world's biggest container shippers, said it expects container volumes to fall by as much as 4%. Maersk controls about one-sixth of global container trade, transporting goods for retailers and consumer companies such as Walmart (WMT.N), Nike (NKE.N) and Unilever (ULVR.L). The International Monetary Fund last week said that it expects global economic growth to slow this year, led by advanced economies even as food prices have come down and the March banking turmoil has been contained. It expects the global growth to slow to 3% this year and next, from 3.5% last year.

Persons: Jon Nazca, . Moller, Mark Read, Grey, Sophie Lund, Yates, Hargreaves Lansdown, Swift, David Jackson, Josephine Mason, Catherine Evans, Deepa Babington Organizations: Triple, Majestic, REUTERS, Maersk, WPP, Walmart, Nike, Unilever, Reuters, Ogilvy, Apple, Amazon.com Inc, Companies, Global, Nissan, Caterpillar, Monetary Fund, DHL Group, Thomson Locations: Strait, Gibraltar, Algeciras, Spain, U.S, Europe, United States, Beijing, slowdowns, China

☆ Two measures of corporate health flash red
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +4 min

Persons: Jon Nazca, . Moller, Mark Read, Grey, Sophie Lund, Yates, Hargreaves Lansdown, Josephine Mason, Catherine Evans Organizations: Triple, Majestic, REUTERS, Maersk, WPP, Walmart, Nike, Unilever, Reuters, Ogilvy, Apple, Amazon.com Inc, Companies, Global, Nissan, Caterpillar, Monetary Fund, DHL Group, Thomson Locations: Strait, Gibraltar, Algeciras, Spain, U.S, Europe, United States, Beijing, slowdowns, China

☆ New propellers with looped blades could help make the oceans quiet again, sparing both marine life and the climate
▼ + stars: | 2023-04-19 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +9 min

Sharrow Marine sells them for small boats but would need to scale up to reach the shipping industry. A traditional ship propeller that has blades in a screw-like form. That's what Sebastian realized when he put loop propellers on a drone. Sharrow began selling propellers to recreational boaters in 2020 through a company he founded called Sharrow Marine. Testing led by the company BoatTEST found that the Sharrow Propeller was up to 30% more efficient than a standard blade propeller.

☆ Euro zone services firms enjoy buoyant March but factories struggle -flash PMI
▼ + stars: | 2023-03-24 | by ( Jonathan Cable | ) www.reuters.com time to read: +4 min

REUTERS/Jon Nazca/File PhotoSummary Euro zone March flash PMI at 54.1, a 10-month highData adds to evidence euro zone will dodge recessionGrowth unbalanced, however, as factory activity fallsLONDON, March 24 (Reuters) - Business activity across the euro zone unexpectedly accelerated this month as consumers splashed out on services, but weakening demand for manufactured goods deepened the downturn in the factory sector, surveys showed. S&P Global's flash Composite Purchasing Managers' Index (PMI), seen as a good gauge of overall economic health, bounced to a 10-month high of 54.1 in March from February's 52.0. SERVICES SHINEA PMI covering the euro zone's dominant services industry jumped to 55.6 this month from 52.7, well above all forecasts in the Reuters poll which had predicted a decline to 52.5. An index measuring output, which feeds into the composite PMI, slipped back below breakeven to 49.9 from last month's 50.1. The euro zone PMI input costs index slipped to 46.4 from 50.9.

☆ Oil spills and near misses: more ghost tankers ship sanctioned fuel
▼ + stars: | 2023-03-23 | by ( Jonathan Saul | ) www.reuters.com time to read: +9 min

REUTERS/Ronen ZvulunSummary Risk of accidents in focus as 'shadow' fleet growsStirs fears of oil spills, decades after Exxon ValdezHundreds of ships carry oil from sanctioned nationsMany ship certifiers and insurers have pulled servicesLONDON, March 23 (Reuters) - An oil tanker runs aground off eastern China, leaking fuel into the water. Many leading certification providers and engine makers that approve seaworthiness and safety have withdrawn their services from ships carrying oil from sanctioned Iran, Russia and Venezuela, as have a host of insurers, meaning there's less oversight of vessels carrying the flammable cargoes. Reuters was unable to independently verify the numbers regarding the size and growth of the shadow fleet. The U.S. Treasury didn't immediately respond to a request for comment on ships carrying sanctioned oil. SHIP-TO-SHIP TRANSFERSAround 774 tankers out of 2,296 in the overall global crude oil fleet are 15 years old or more, according to data provider VesselsValue.

☆ 1 dead in Spanish church machete attacks, terror link probed
▼ + stars: | 2023-01-26 | by ( Associated Press | ) www.nbcnews.com time to read: +2 min

The assailant then went to a second church, Nuestra Señora de La Palma, a five-minute walk away, where he attacked the sexton. Police gather outside the Church of San Isidro, in Algeciras, Spain on Jan. 25, 2023. Nono Rico / Europa Press via APThe Algeciras town hall said the sexton was named Diego Valencia and identified the wounded priest as Antonio Rodríguez. The town hall said he was hospitalized and in stable condition. The town hall declared a day of mourning when flags will fly at half-staff.

☆ Spain church machete attack suspect was 25-year-old Moroccan, police confirm
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +3 min

[1/2] People observe a moment of silence a day after a 25-year-old Moroccan suspect attacked two churches, in Algeciras, Spain January 26, 2023. REUTERS/Marcelo del PozoMADRID, Jan 26 (Reuters) - The suspect in a machete attack on two churches in southern Spain in which one clergyman was killed and another seriously injured is a 25-year-old Moroccan man who was due to be deported from the country, police said on Thursday. A police source denied local media reports that the suspect had been under surveillance by security operatives in the days or months before the attack. The man was not in Spain legally and his deportation process began in June last year and was ongoing, the source added. According to a High Court ruling, the perpetrators were linked to Al Qaeda and the Moroccan Islamic Combatant Group.

☆ At least one dead, several injured in machete attack at southern Spain churches
▼ + stars: | 2023-01-25 | by ( David Latona | ) www.reuters.com time to read: +3 min

[1/3] A body covered in thermal blanket is seen at the scene of a stabbing incident at a church in Algeciras, Spain January 25, 2023 in this screen grab from a video. The man attacked clergymen at two different churches - San Isidro and Nuestra Senora de La Palma, around 300 metres (1,000 feet) apart - just after 8pm on Wednesday evening in downtown Algeciras, a spokesperson for the city said. Jose Ignacio Landaluce, the mayor of Algeciras, has declared a day of mourning in the city for Thursday and a rally outside Nuestra Senora de La Palma church at midday. Earlier on Wednesday, two people were killed and several others injured when a 33-year-old stateless Palestinian man attacked them with a knife on a regional train travelling between Kiel and Hamburg in northern Germany, authorities said. Reporting by David Latona, Belén Carreño and Aislinn Laing; Editing by Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

☆ Green hydrogen corridor aims to harness Spanish sunshine and decarbonize Europe's industrial north
▼ + stars: | 2022-10-12 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +3 min

"The co-operation is part of Rotterdam's ambition to supply Northwest Europe with 4.6 million tonnes of green hydrogen by 2030," it went on to add. "We are therefore setting up multiple trade lanes for green hydrogen, together with exporting countries and private businesses all over the world," he added. If the electricity used in this process comes from a renewable source such as wind or solar then some call it "green" or "renewable" hydrogen. Tuesday's announcement said Cepsa was aiming to "lead green hydrogen production in Spain and Portugal by 2030 with a production capacity of 2GW." It added that it would develop a 7 GW portfolio of renewable energy projects — including solar and wind — to produce the renewable energy required for green hydrogen generation.

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