AP Moller-Maersk has raised its full-year profit outlook after resilient container demand offset trade tensions, though the Danish shipper warned of softer growth in the second half, reported Reuters.
Maersk now expects global container volumes to rise two to four percent in 2025, revising its previous forecast of minus one to plus four percent.
The company cited strong import growth in Europe and other regions, which outweighed a contraction in US volumes.
“Even with market volatility and historical uncertainty in global trade, demand remained resilient,” said chief executive.
Vincent Clerc.
Maersk shares rose over three percent in early trading.
The company said underlying EBITDA for the year is now projected between US$8 billion and $9.5 billion, up from its earlier range of $6 billion to $9 billion.
Second-quarter EBITDA rose 7 percent year-on-year to $2.3 billion, beating analyst expectations.
Sales increased three percent to $13.1 billion, also ahead of forecasts.
Maersk noted that Red Sea le disruptions are expected to persist through year-end, with vessels rerouted around Africa due to attacks by Houthi militants.
Longer sailing times and higher freight rates have benefited carriers.
Trade between China and the US fell sharply earlier this year amid tariff disputes, prompting some carriers to suspend routes.
A truce was reached, but uncertainty remains over a potential 55 percent tariff deadline.
“In a highly politicised environment, and confronted with major disruptions, goods continued to flow across and within countries,” Maersk said, highlighting the resilience of
global logistics.
RCL orders two more 12,000 TEUers from Japan
Thailand’s Regional Carrier Lines (RCL) has ordered another pair of 12,000 TEU newbuild containerships from Japan’s Nihon Shipyard, reports Singapore’s Splash 247.
The Bangkok-based operator will pay US$133 million per vessel, with deliveries scheduled for August and December 2024.
Nihon Shipyard is a joint venture between Imabari Shipbuilding and Japan Marine United.
In 2021, RCL acquired two 12,000 TEU ships under construction at Imabari for US$115 million each from Kyosei Kisen.
Those units, chartered to Israeli carrier ZIM, are due for delivery late this year and early 2023.
Earlier in 2022, RCL also booked two 7,000 TEU ships at Shanghai Waigaoqiao Shipbuilding in China for US$85 million each, with deliveries set for October 2024 and May 2025.
These will be the second largest ships in a fleet dominated by feeder and subpanamax vessels.
Chittagong port boosts yard space to ease congestion
The Chittagong Port Authority has expanded container storage capacity by nearly 10 percent to 59,000 TEU to tackle severe congestion over the past two months, reported Dhaka’s Daily
Star.
Additional space has been freed in existing yards and two old sheds outside the main port area have been brought into use.
As of August 20, containers occupied more than 88 percent of available space, with 47,463 TEU in the yards against the previous capacity of 53,518 TEU.
Import boxes account for most of the pressure, with full container load units filling over 96 percent of their designated space.
Delays in moving Dhaka-bound containers, due to a shortage of railway locomotives, have added to the backlog.
CPA secretary Omar Faruk said deliveries and shipments were continuing smoothly despite the heavy load.
He cited recent setbacks including Eid-ul-Azha holidays, a revenue officials’ strike, customs server outages and work stoppages by prime mover operators.
Mr Faruk noted a backlog of about 10,000 abandoned TEU at the auction yard and acknowledged difficulties caused by slow inland transport.
Pakistan, Bangladesh eye flights, shipping links
Pakistan’s Commerce Minister Jam Kamal Khan and Bangladesh’s Commerce Adviser Bashir Uddin have proposed resuming direct flights and launching regular shipping services to strengthen bilateral trade, during a visit to Chittagong on 23 August, reports Pakistan’s Daily Times.
The ministers met the Chaudhry the Chittagong Chamber of Commerce and Industry and toured industrial and port facilities, discussing cooperation in ready-made garments, agriculture, ship recycling, logistics and trade digitisation.
They said a Joint Working Group on Trade will be set up to provide an institutional framework for dialogue.
Business leaders shared proposals for direct transport links and greater collaboration in key sectors.
Both sides also explored trilateral cooperation to export goods to Africa and Central Asia, and discussed opportunities in healthcare, leather and essential commodities.
The Bangladeshi side was invited to the 3rd International Food and Agricultural Exhibition in Karachi in November.
Khan also visited Kabir Ship Recycling Facilities to review potential joint projects in shipbuilding, breaking and recycling.
Pakistan, China advances solar plan to power Gwadar Port, free zone
Pakistan-China-advances solar Pakistan is moving forward with plans operationalize Gwadar Port through solar-based solutions, in collaboration with Chinese partners under China-Pakistan Economic Corridor (CPEC), according to the report carried by Gwadar Pro on Thursday.
Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry announced that the initiative during a meeting attended by officials from the Gwadar Port Authority, the Chinese company COPHCL, and representatives of key ministries.
According to an official statement, the discussions focused on tackling Gwadar’s twin challenges of power shortages and water scarcity, which have hindered the port’s full potential.
A high-level sub-committee has been formed with representatives from the Ministry of Energy, Ministry of Maritime Affairs, Federal Board of Revenue, Gwadar Development Authority, Quetta Electric Supply Company, and the Prime Minister’s Office.
The body will review technical plans for installing photovoltaic systems, battery storage, and solar-based micro and macro grids to ensure a stable and cost-effective power supply.
According to the plan, solar grids will power critical infrastructure, including the 1.2 million gallons per day desalination plant and water pumping systems, enabling Gwadar to achieve greater self- sufficiency.
The Prime Minister’s Solar Initatives expected to be operational soon, will extend benefits to factories in the Gwadar free zone and the Gwadar International Airport.
Officials said the fisheries sector alone could save over one million dollars annually by shifting from costly diesel and unreliable grid electricity to dependable solar power.
“This is not only about reducing costs but also about securing Gwadar’s economic future, protecting its industries, and enhancing its role in regional trade,” the minister emphasized.
ONE takes delivery of 13,900- TEUer from Imabari
Ocean Network Express has received the container vessel ONE Sincerity from Japan’s Imabari Shipbuilding, expanding its fleet with a 13,932-TEU ship designed for fuel efficiency and hazardous cargo compliance, reported Saint Petersburg’s Port News.
The handover was completed at Imabari’s Hiroshima yard and announced on August 13.
The vessel features lashing bridges up to four tiers and can accommodate a large number of refrigerated containers.
Maritime Dangerous Goods Code standards and includes energy- saving features such as an optimised hull, twisted rudder and low-friction coatings.
Its Energy Efficiency Design Index achieves a 60 percent reduction compared to regulatory baselines.
ONE Sincerity is equipped with a hybrid exhaust gas cleaning system, exhaust gas recirculation, ballast water treatment and a recycling inventory list under the Hong
Kong Convention.
Concept designs allow for future conversion to methanol or ammonia fuels and integration of carbon capture technology, with Approval in Principle granted by Lloyd’s Register.
The vessel measures 335.94 metres in length, with a beam of 51.00 metres, depth of 30.10 metres and gross tonnage of 140,233.
It is powered by a 7G95ME-C10.6 engine and has a service speed of 22 knots.
Registered in Singapore and classed by Lloyd’s Register, ONE Sincerity joins the global fleet of Ocean Network Express, a joint venture of Nippon Yusen Kabushiki Kaisha.
Mitsui OSK Lines (MOL) and Kawasaki Kisen Kaisha (“K” Line).
PNSC expands fleet
Pakistan National Shipping Corporation (PNSC), the country’s national flag carrier, has expanded its fleet from 10 to 12 vessels with the addition of two Aframax-class tankers, Swan Lake and P. Aliki,
enhancing maritime and energy transport capacity.
The development was disclosed by PNSC Chief Executive Officer (CEO) Zarar Hussain during a meeting with Federal Minister for Maritime Affairs Junaid Chaudhry the other day, read an official statement.
Chaudhry highlighted that these new tankers increase the PNSC fleet to 12 ships, reaffirming the government’s commitment to strengthening the national shipping sector.
He further announced the ambition to grow the fleet to 20 vessels by year-end.
He emphasised PNSC’s vital role in transporting crude oil and petroleum products, noting Aframax tankers, ranging from 80,000 to 120,000 deadweight tonnes, are favoured globally for their ability to access ports inaccessible to larger Very Large Crude Carriers.
This expansion is expected to Pakistan’s capacity to efficiently handle rising energy imports, he said.
It is pertinent to mention that an Aframax vessel is an oil tanker from with a deadweight between 80,000 and 120,000 metric tonnes.
The term is based on the Average Freight Rate Assessment (AFRA), a tanker rate system.