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☆ 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.

☆ Shipping industry grapples with ways to cut cargo fires at sea
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 22 (Reuters) - Global shipping companies are exploring ways to boost safety in transporting cargoes as risks grow from fires erupting inside containers or in cars at sea, officials said on Wednesday. Shipping transports around 90% of world trade onboard different vessels including container and Ro-Ro ships with trade routes getting busier. "The main root cause for cargo fires on container ships is the integrity of dangerous goods throughout the supply chain. Therefore it is a problem that can only be improved through industry wide solutions," Maersk's Aslak Ross said separately in a statement. Reporting by Jonathan Saul Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Top container shippers Maersk, MSC to end alliance from 2025
▼ + stars: | 2023-01-25 | by ( Jacob Gronholt-Pedersen | ) www.reuters.com time to read: +2 min

COPENHAGEN, Jan 25 (Reuters) - Denmark's Maersk (MAERSKb.CO) and Swiss-based MSC, the world's largest container shipping companies, said on Wednesday they had agreed to end a vessel sharing alliance in January 2025, allowing them to pursue individual strategies. Both companies saw the alliance as a way to manage more capacity after purchasing new mega-ships. "Today, we have a much different strategy, where we more look at how to integrate container shipping at sea with our land-based logistics business," Maersk's head of ocean shipping Johan Sigsgaard told Reuters in an interview. Maersk expects to be able to deliver ocean shipping at the same scale when the partnership with MSC ends without rising the cost of moving each container at sea, Sigsgaard said. MSC, privately owned by the Aponte family, overtook Maersk as the world's biggest container in 2021.

☆ New challenges mean timing for CEO change is right, says Maersk's incoming CEO
▼ + stars: | 2022-12-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew challenges mean timing for CEO change is right, says Maersk's incoming CEOVincent Clerc, incoming CEO of the Danish freight giant, says "after two years of bumper profits and supply chain disruptions because of the pandemic, we have a different set of circumstances."

☆ From giant kites to foldable wings, here's what container ships could look like by 2050 as companies race to decarbonize their supply chains
▼ + stars: | 2022-11-23 | by ( Hannah Towey | ) www.businessinsider.com time to read: +6 min

Shipping giants are racing to find scalable green alternatives to gas-guzzling container ships. Other shipping giants are betting big on green methanol fuel derived from agricultural waste. Courtesy of VeerBut the real challenge, Fagerheim said, is convincing clients to get onboard with the boat's slower transit time compared to a traditional container ship. By comparison, conventional container ships can handle loads of over 38,000 tonnes. ©PIRIOU / courtesy of TransOceanic Wind TransportBut as more shoppers prioritize sustainability, some big name brands are pledging to use sustainable cargo ships once the designs become a reality.

☆ Maersk settles case with 'Midshipman X,' whose allegation of rape at sea roiled the shipping industry
▼ + stars: | 2022-11-18 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

Maersk settled a lawsuit with ex-merchant navy cadet who said she was raped aboard one of its ships. Hope Hicks, formerly known as "Midshipman X," prompted a major reckoning with her allegation. Neither the shipping giant nor the cadet, Hope Hicks, disclosed further details of the settlement in a joint statement on Friday. In June, Hicks went public and filed her lawsuit against Maersk alongside another USMMA cadet who was identified only as "Midshipman Y." Maersk declined to provide Insider with an update on its case with Midshipman Y as of Friday.

☆ Maersk settles case with 'Midshipman X,' who alleged she was raped as a merchant navy cadet aboard one of its ships
▼ + stars: | 2022-11-18 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

Maersk settled a lawsuit with ex-merchant navy cadet who said she was raped aboard one of its ships. Neither the shipping giant nor the cadet, Hope Hicks, disclosed further details of the settlement in a joint statement on Friday. Writing only as "Midshipman X," Hicks not only alleged her own rape but also that she knew of several other female cadets at USMMA who had been raped. In June, Hicks went public and filed her lawsuit against Maersk alongside another USMMA cadet who was identified only as "Midshipman Y." Maersk declined to provide Insider with an update on its case with Midshipman Y as of Friday.

☆ Maersk sees container demand slowing as recession looms
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +2 min

[1/2] Shipping containers are transported on a Maersk Line vessel through the Suez Canal in Ismailia, Egypt July 7, 2021. REUTERS/Amr Abdallah Dalsh/File PhotoSummarySummary Companies Q3 underlying EBITDA $10.86 bln vs forecast $9.78 blnSees container demand falling 2-4% this yearOSLO, Nov 2 (Reuters) - Shipping group Maersk (MAERSKb.CO) warned on Wednesday of slowing demand for transport and logistics as a global recession looms and cut its forecast for container demand this year, even as it beat third-quarter earnings expectations. Maersk now sees global container demand falling by 2% to 4% this year, citing an unfolding economic slowdown expected to continue into 2023. Reuters GraphicsSkou told Reuters in September he expected ocean freight volumes to be flat or lower this year, though congestion persists in ports and global supply chains. The company repeated it expects underlying EBITDA of around $37 billion this year.

FILE PHOTO - Maersk CEO Soren Skou answers questions from the press after publishing the company's quarterly accounts, in Copenhagen, Denmark, November 2, 2021. Moller-Maersk's (MAERSKb.CO) chief executive said on Thursday he expects a "modest" pick-up in trade for the upcoming holidays this year amid concerns about the slowing global economy and consumer demand. "Volumes headed into the Christmas season are lower than a normal year," Soren Skou said in a Reuters Newsmaker interview. Ocean freight volumes will be flat or lower this year, though there is still congestion in global supply chains, he said. Maersk has raised its 2022 profit guidance twice this year as high freight rates persisted longer than expected.

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