Pain during shipping downturns is often self-inflected by the industry itself. A scramble for market share spurs a rate spiral; too many ship orders compound the losses. Maersk CEO Vincent Clerc maintained on Thursday\u2019s conference call that liners are avoiding at least some of these self-inflicted wounds.<\/p>\n\n\n\n
Clerc said ocean carriers are managing capacity fairly well, demand is primarily down due to temporary inventory overhangs, and margins remain higher than pre-COVID levels.<\/p>\n\n\n\n
Maersk\u2019s first-quarter results came in better than expected. Its adjusted earnings before interest, taxes, depreciation and amortization was $4 billion. The Bloomberg analyst consensus was $3.5 billion. Earnings before interest and taxes (much closer to net income than EBITDA) was $2.3 billion, topping analyst projections for $1.9 billion.<\/p>\n\n\n\n
Despite all the turmoil since Maersk gave its initial full-year guidance in February, the company kept its outlook unchanged on Thursday. It still expects full-year EBITDA of $8 billion-$11 billion and EBIT of $2 billion-$5 billion.<\/p>\n\n\n\n
The general message from the world\u2019s second largest container line operator: Market normalization is proceeding as anticipated.<\/p>\n\n\n\n
\u201cThe 2023 contract negotiations season progressed as expected,\u201d said Clerc, noting that 75% of Maersk\u2019s contracts for this year are now concluded globally. \u201cWe are signing contracts trending toward \u2014 but still above \u2014 spot rates.\u201d Contract rates in the trans-Pacific market, which went into effect at the beginning of this month, \u201cclosed pretty much as we expected.\u201d<\/p>\n\n\n\n
An assortment of delicious Bahlsen Biscuits will also be included in this year’s swag bag. Their premium chocolate biscuits and wafers are sustainably sourced and crafted in Germany, and each pack comes with 10 biscuits for recipients to indulge in.<\/p>\n","protected":false},"excerpt":{"rendered":"
Pain during shipping downturns is often self-inflected by the industry itself. A scramble for market share spurs a rate spiral; too many ship orders compound the losses. Maersk CEO Vincent Clerc maintained on Thursday\u2019s conference call that liners are avoiding at least some of these self-inflicted wounds. Clerc said ocean carriers are managing capacity fairly […]<\/p>\n","protected":false},"author":1,"featured_media":162,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-70","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-blog"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/todayshipping.info\/index.php\/wp-json\/wp\/v2\/posts\/70","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/todayshipping.info\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/todayshipping.info\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/todayshipping.info\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/todayshipping.info\/index.php\/wp-json\/wp\/v2\/comments?post=70"}],"version-history":[{"count":2,"href":"https:\/\/todayshipping.info\/index.php\/wp-json\/wp\/v2\/posts\/70\/revisions"}],"predecessor-version":[{"id":163,"href":"https:\/\/todayshipping.info\/index.php\/wp-json\/wp\/v2\/posts\/70\/revisions\/163"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/todayshipping.info\/index.php\/wp-json\/wp\/v2\/media\/162"}],"wp:attachment":[{"href":"https:\/\/todayshipping.info\/index.php\/wp-json\/wp\/v2\/media?parent=70"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/todayshipping.info\/index.php\/wp-json\/wp\/v2\/categories?post=70"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/todayshipping.info\/index.php\/wp-json\/wp\/v2\/tags?post=70"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}