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At Least 26 Dead After Cyclone Tauktae Sinks Barge Off Mumbai

By Costas Paris

The Indian navy has recovered 26 bodies off Mumbai and rescue teams are searching for at least 50 people after a barge with hundreds of oil workers on board sank during a. | May 20, 2021 ....

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Maersk Posts Record Profit, Steps Up Buyback Program — Update

Provided by
Dow Jones
By Costas Paris and Dominic Chopping
A.P. Moller-Maersk A/S said it would launch a roughly $5 billion share-buyback program as unrelenting demand for manufactured goods helped the Danish shipping company post a record profit for the first quarter.
Maersk said net profit surged to $2.7 billion, up from $197 million in the first quarter of last year, boosted by big retailers such as Walmart Inc. and Amazon.com Inc. restocking inventories that were depleted early last year after the coronavirus pandemic hit.
The result came in above the average forecast of $2.38 billion of 10 analysts surveyed by FactSet. ....

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Maersk Fourth-Quarter Earnings Surged as Outlook Disappoints — Update

Maersk Fourth-Quarter Earnings Surged as Outlook Disappoints — Update
morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.

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Today's Logistics Report: Seeking Steady Shipping Trade; Semi Cell Shortage; GM Driving Electric

Provided by
Dow Jones
By Paul Page
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The global shipping industry is looking for calmer sailing under a Biden administration. Shipowners across a range of sectors say their operations were roiled by the tariff-filled trade showdowns and sanctions by the White House over the past four years. The WSJ Logistics Report s Costas Paris writes in a Shipping Matters commentary that the persistent volatility unsettled many operators, even those that profited from the turbulence, like tanker operators that raked in high shipping rates early last year. Industry executives don t expect a fast resolution of trade differences between the U.S. and China under President Biden. But they hope the administration will work quietly to normalize trans-Pacific relations and that trans-Atlantic trade in products from consumer goods to industrial minerals moves at a steadier pace. Uncertainty ....

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Ship Operators Seek Calmer U.S. Trade Waters Under Biden

Provided by
Dow Jones
By Costas Paris
The global shipping industry is hoping that President Biden s America is back declaration means the U.S. is returning to free-trade principles, and away from Trump administration protectionist policies that often dragged ocean vessels into efforts to enforce sanctions.
The long-running trade dispute with China and sanctions on big oil producers like Iran and Venezuela have left shipping companies navigating a complicated and fast-changing web of financial and operating restrictions.
This has left dozens of fully loaded ships idled for extended periods and their owners forced to scrap delivery contracts and pay high legal fees to avoid U.S. punitive actions. ....

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