Mr Wieringa said Maersk’s air cargo arm planned to triple in size in the next few years, and would widen its scope to more geographies and verticals. “We will do that by means of organic growth, but we will still keep an eye on the inorganic agenda.” He said: “We used to be very much focused...

Management has raised the quarterly dividend by more than 50%, tied executive compensation and investment to shareholder return performance and brought in two external directors to the board, with a third to follow. To the delight of shareholders, FedEx announced the quarterly dividend would be rais...

Maersk Mr Hausmann said the Danish group had always had subsidiaries playing in the air freight arena: forwarder Damco, now rebranded and re-integrated; and Star Air, basically an ACMI provider mostly to UPS and DHL. Over the past 18 months or so, driven by the cash amassed from the exceptional...

MSC will impose a $1,500 per container GRI for Indian shipments to the US and San Juan (Puerto Rico) from 4 July, as well as a peak season surcharge (PSS) of $500 per box on its India-US connections, sending current average rates further northwards as the supply side looks set to tighten in the week...

The source of the discontent was the Safe Trucking Freight Rates System, which is due to expire in December, but citing rising fuel costs, the truck drivers wanted it to be extended. After initial talks fell through Sunday, both sides resumed negotiations yesterday, and the Ministry of Land, Infrast...

Maersk Coastal Connect’s two 2,500 teu ships will provide weekly port coverage of Tauranga, Timaru and Lyttelton, and fortnightly coverage of Nelson and Auckland. Maersk said the new service would bring “much-needed schedule resilience, flexibility and superior coverage to the New Zealand supply...

Eleanor Hadland, senior ports & terminals analyst at Drewry, told delegates a recent survey by the consultancy showed “shippers don’t expect port congestion to improve until the second half of 2023, while freight rates are never going to return to pre-pandemic levels”. Lamia Kerjoudj-Belka...

The deal will cover 800,000 litres of SAF, helping Bolloré cut its Scope 3 GHG emissions by at least 2,220 tonnes of CO2e, Cargolux called it “a significant achievement; one we hope to build on in the future”. The carrier, soon to announce its fleet replacement programme with either A350s or B7...

Allseas Shipping Company (ASC), a joint-venture between Allseas Global and First Containers, was formally launched at the Multimodal show in Birmingham, because, says the forwarder, it wants to maintain its independence. “When we launched this, it came under the banner of the China Express, which ...

The groups met with President Joe Biden on Friday onboard the battleship USS Iowa in San Pedro, California, to discuss a range of issues, including congestion and their “shared commitment to reach a collective bargaining agreement that is fair to both parties”. The current agreement expires at 5...