A.P. Moller-Maersk A/S shares plunged after the company said it expects renewed gloom in the industry this year when the current boost to freight rates from the Red Sea conflict evaporates.
A.P. Moller-Maersk A/S’s newest methanol-powered vessel will soon set sail from South Korea as the shipper seeks to reduce emissions in one of the world’s most-polluting industries.
Global shipping giants Hapag-Lloyd and Maersk have struck a partnership deal to operate some of their ships as a joint fleet in the future, the companies announced Jan. 17.
The CEOs of two leading freight carriers said they expect Red Sea threats to disrupt shipping for weeks or months longer.
A.P. Moller-Maersk A/S plans to continue diverting ships away from the Red Sea “for the foreseeable future” after pausing transits earlier this week to assess the situation.
Shipping giant A.P. Moller-Maersk A/S will redirect its vessels to sail south of Africa to avoid the Red Sea conflict area where Houthi militants have attacked several ships.
Attacks on merchant ships by Houthi militants near Yemen in the Red Sea have prompted trade disruption, with major vessel owners Maersk and Hapag-Lloyg halting trips through the area.
Europe’s biggest container lines want to phase out ships powered only by fossil fuels, they say in a proposal jointly made by Mediterranean Shipping Co., Maersk, CMA CGM and Hapag-Lloyd.
A.P. Moller-Maersk A/S, the maritime shipping giant that has been diversifying into land transportation, is betting that driverless trucks will help make deliveries more reliable.