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Displaying items by tag: Container Giant

Danish shipping group AP Moller-Maersk has today warned of a sharp drop in global container volumes due to the coronavirus pandemic, sending its shares down sharply.

The coronavirus epidemic has thrown the global container shipping trade off balance as global supply chains have been upended and businesses and factory activity in China and later across the world was disrupted.

Maersk, which also reported a 23% rise in first-quarter core profits, now expects global container demand to contract this year, after previously forecasting growth of 1%-3%.

"As global demand continues to be significantly affected, we expect volumes in the second quarter to decrease across all businesses, possibly by as much as 20%-25%," chief executive Soren Skou said.

More from RTE News here

Published in Ports & Shipping

#WarRiskSurcharge – The world's third largest container shipping operator CMA-CGM has announced the implementation of a War Risk Surcharge on all shipments to Hodeidah, Yemen.

The charges of US$300 per 20-foot and $600 per 40-foot containers are applicable with immediate effect.

CMC-CGM said: "For all cargo already discharged in Hodeidah, or at sea on the way to be discharged in Hodeidah coming from Jeddah or Djibouti, or from initial port of loading, this surcharge will be collected by our agent in Hodeidah.

"For all new bookings to Hodeidah, this surcharge will be prepaid by shippers at the port of loading."

Also according to Lloyds Loading List, the giant French owned shipping group quadrupled 2015 profits for Q1.

The sharp drop in bunker prices provided a major boost to container shipping group CMA CGM in the first quarter, helping to drive a fourfold increase in net profits to $406 million, despite the volatility on Asia-Europe lanes since Chinese New Year.

Volumes rose 10.5% in the period to 3.1 million TEU, chiefly from the increase in volumes on the East-West lines, particularly to and from the US, where volumes enjoyed sustained growth, and also from the launch of the Ocean Three Alliance.

The group continued to actively optimise its services, opening five new routes in the US and extending its agency network up to 655 agencies in over 160 countries.

For much more click HERE.

Published in Ports & Shipping

Marine Science Perhaps it is the work of the Irish research vessel RV Celtic Explorer out in the Atlantic Ocean that best highlights the essential nature of marine research, development and sustainable management, through which Ireland is developing a strong and well-deserved reputation as an emerging centre of excellence. From Wavebob Ocean energy technology to aquaculture to weather buoys and oil exploration these pages document the work of Irish marine science and how Irish scientists have secured prominent roles in many European and international marine science bodies.

 

At A Glance – Ocean Facts

  • 71% of the earth’s surface is covered by the ocean
  • The ocean is responsible for the water cycle, which affects our weather
  • The ocean absorbs 30% of the carbon dioxide added to the atmosphere by human activity
  • The real map of Ireland has a seabed territory ten times the size of its land area
  • The ocean is the support system of our planet.
  • Over half of the oxygen we breathe was produced in the ocean
  • The global market for seaweed is valued at approximately €5.4 billion
  • · Coral reefs are among the oldest ecosystems in the world — at 230 million years
  • 1.9 million people live within 5km of the coast in Ireland
  • Ocean waters hold nearly 20 million tons of gold. If we could mine all of the gold from the ocean, we would have enough to give every person on earth 9lbs of the precious metal!
  • Aquaculture is the fastest growing food sector in the world – Ireland is ranked 7th largest aquaculture producer in the EU
  • The Atlantic Ocean is the second largest ocean in the world, covering 20% of the earth’s surface. Out of all the oceans, the Atlantic Ocean is the saltiest
  • The Pacific Ocean is the largest ocean in the world. It’s bigger than all the continents put together
  • Ireland is surrounded by some of the most productive fishing grounds in Europe, with Irish commercial fish landings worth around €200 million annually
  • 97% of the earth’s water is in the ocean
  • The ocean provides the greatest amount of the world’s protein consumed by humans
  • Plastic affects 700 species in the oceans from plankton to whales.
  • Only 10% of the oceans have been explored.
  • 8 million tonnes of plastic enter the ocean each year, equal to dumping a garbage truck of plastic into the ocean every minute.
  • 12 humans have walked on the moon but only 3 humans have been to the deepest part of the ocean.

(Ref: Marine Institute)

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