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Hapag-Lloyd upgrades earnings forecast amid strong market demand

glory 09-12-2020 15:52 Area News
German container shipping company Hapag-Lloyd has raised its earnings forecast amid better than expected business performance. For the 2020 financial year, earnings before interest, taxes, depreciation and amortisation...
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Golden Ocean unveils major refinancing deal, returns to black in Q3

glory 19-11-2020 21:45 Area News
Bermuda-based dry bulk shipping company Golden Ocean has signed a loan agreement to fully refinance the $425 million credit facility which is secured by fourteen Capesize vessels. Signed this month, the new $304 million...
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Maersk delivers strong Q3 result, raises 2020 guidance

glory 18-11-2020 16:59 Area News
Danish container shipping major A.P. Moller – Maersk managed to grow earnings and cash flow in the third quarter of this year, despite the negative effect of the COVID-19 pandemic on global economies. Profit for the...
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Volume recovery, cost-cutting measures help Hapag-Lloyd deliver strong results

glory 13-11-2020 16:40 Area News
German container shipping major Hapag-Lloyd reported strong earnings in the first nine months of this year, benefitting from volume recovery in the third quarter combined with stable freight rates and low bunker prices....
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Euronav tries to escape challenging freight rates by bringing forward dry dockings

glory 06-11-2020 19:46 Area News
Belgium’s tanker shipping company Euronav has decided to bring forward dry dockings in order to counter the challenging freight rate market in the short term. As informed, a total of nine vessels are planned to enter a...
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Genco continues with fleet renewal as it offloads 3 Supramaxes

glory 05-11-2020 19:39 Area News
US-based drybulk shipowner Genco Shipping & Trading Limited is moving forward with its fleet renewal programme as it agreed the sale of three Supramax vessels. As disclosed, the company will sell the 2007-built Genco...
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Bahri enjoys profit surge

glory 27-10-2020 18:28 Area News
Saudi Arabia’s Bahri, the world’s largest owner and operator of very large crude carriers (VLCCs), closed the third quarter of this year with a 114% rise in its net profit that was attributed to the improvement in...
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Maersk braces for $100 M restructuring charge over 2,000 job cuts as it lifts Q3 outlook

glory 13-10-2020 16:03 Area News
Danish shipowner Maersk expects to take a restructuring charge of around $ 100 million in the third quarter of 2020 related to the redundancies of around 2,000 employees. The redundancies are part of the internal...
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CMA CGM boosts profitability despite volume slowdown

glory 07-09-2020 16:55 Area News
During the second quarter of this year, French container shipping major CMA CGM improved profitability in all its business activities despite challenges related to COVID-19. The company posted a net income of $136...
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COSCO Shipping Ports eyes growth despite throughput decline

glory 28-08-2020 19:34 Area News
Due to challenges caused by the COVID-19 pandemic, Hong Kong-based port operator COSCO Shipping Ports suffered decreases in both throughput and earnings in the six-month period ended 30 June 2020. Total throughput...
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