Live Breaking News & Updates on Harjeet Kaur Joshi
Stay updated with breaking news from Harjeet kaur joshi. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Synopsis Shipping firms such as South Korea’s HMM Co. are ordering more containers to address an acute shortage, with cargo stuck at warehouses longer than usual because of lockdowns and workplace restrictions. iStock Maersk said it expects profit to grow as much 27% this year. HMM, South Korea’s biggest shipping line, reported its first annual operating profit in 10 years in 2020. The world’s largest container carrier said trade disruptions that have sent freight rates soaring and overwhelmed major ports may start to ease after the first quarter, disappointing investors but signaling eventual relief for cargo shippers. A.P. Moller-Maersk A/S Chief Executive Officer Soren Skou said the fourth quarter “was marked on the one hand by a continuous impact of the Covid-19 pandemic but also by some rewarding progress on our strategy to become the integrator of container logistics.” ....
By Christian Wienberg, Kyunghee Park and Morten Buttler (Bloomberg) The world’s largest container carrier said trade disruptions that have sent freight rates soaring and overwhelmed major ports may start to ease after the first quarter, disappointing investors but signaling eventual relief for cargo shippers. A.P. Moller-Maersk A/S Chief Executive Officer Soren Skou said the fourth quarter “was marked on the one hand by a continuous impact of the Covid-19 pandemic but also by some rewarding progress on our strategy to become the integrator of container logistics.” Looking ahead, Maersk said it expects “the current exceptional situation” of surging demand, supply chain bottlenecks and equipment shortages to continue this quarter “and normalize thereafter.” ....
Global shipping turmoil expected to calm down by mid-year bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.