Global container trade may shrink by 4% this year
Global container trade may shrink by 4% this year
NO.1 Maersk: Global container trade may shrink by 4% this year
Recently, Copenhagen-based Maersk issued a statement stating that global container trade may shrink by as much as 4% this year, compared with a previously expected 2.5% decline, as there is no substantial sign of a pick-up within the year.
"Our expectation is not a recession, but a very sluggish environment that will continue for the rest of the year," said company chief executive Vincent Clerc, expecting some recovery in the market and returning to positive growth by 2024. We remain concerned about the global economy.
NO.2 Greek shipowners control 21% of the global ship tonnage
Greece is still the world's leading shipowner country. The 2022-2023 annual report of the Hellenic Shipowners' Federation stated that Greek shipowners control 21% of the world's merchant fleet in terms of deadweight tonnage.
In addition, the report pointed out that the Greeks are investing heavily in new shipbuilding, ordering 241 new ships in April 2023, approximately 19 million deadweight tons, proving that Greek shipowners are currently one of the leaders in the transformation of the shipping industry.
In addition, more than 40% of environmentally friendly tankers and 16% of LNG carriers currently under construction will be delivered to Greece. As a result, the average age of the Greek-owned fleet is around 10 years, below the global average of nearly 11 years.
NO.3 Amazon's UK two warehouses go on strike
The retail giant Amazon is experiencing the largest strike day in its (UK) history. The GMB union said that more than 1,000 workers in two warehouses went on strike within four days. Among them, Rugeley's employees went on strike on August 3 and 4. Ventry workers went on strike on August 4 and 5.
Workers at Amazon's Coventry factory began their strike action a year ago to protest what they considered a paltry pay rise. After the end of this round of strikes, Amazon UK will have 26 days of strikes this year. According to the person in charge of Amazon, the strike will not affect the delivery.
NO.4 DHL will expand CVG aviation hub
DHL will invest $192 million to build an aircraft maintenance center at its main U.S. superhub Cincinnati/Northern Kentucky International Airport to support its growing fleet.
The aircraft maintenance center will complement DHL's existing cargo operations, and DHL Terminal will lease 50 acres of additional land from the airport, which can accommodate two Boeing 777 wide-body freighters side by side. DHL said it expects to complete the project by the end of 2025.
NO.5 Maersk's second-quarter revenue of 13 billion US dollars
Recently, Maersk released financial report data showing that this quarter's performance was higher than expected. Although revenue fell to $13 billion in the current quarter compared to $21.7 billion in the second quarter of 2022, the EBIT margin still stood at 12.4%.
Based on the performance in the first half of the year, even if the market demand further weakens in the second half of the year, Maersk has raised its full-year financial forecast. EBITDA is now expected to be $9.5-11 billion and EBIT to be $3.5-5 billion. In the second quarter of 2023, due to the decline in freight rates and volumes, the ocean freight business revenue fell from US$17.4 billion to US$8.7 billion year-on-year.
