- Reuters
Hapag-Lloyd raises outlook on stronger-than-expected demand
(Reuters) -International shipping company Hapag-Lloyd raised its full-year earnings guidance on Thursday citing stronger-than-expected demand and higher freight rates. Despite increased expenses from the diversion of vessels around the Cape of Good Hope, Hapag-Lloyd says it now expects earnings before interest, taxes, depreciation, and amortisation (EBITDA) for 2024 of between $4.6 billion and $5 billion, up from previous guidance of $3.5 billion to $4.6 billion. However, given very volatile freight rates and major geopolitical challenges, the forecast is subject to a high degree of uncertainty, Hapag-Lloyd said.
- Bloomberg
US Dockworkers Head Back to Work, Talks Extended to January
(Bloomberg) -- Most Read from BloombergWhat Do US Vehicle Regulators Have Against Tiny Cars?The Corner Store ComebackNYC Schools Reverse Course on Cell-Phone Ban After Parents BalkMexico City Restricts Airbnb Rentals to Curb ‘Gentrification’Roofs of Mexico City’s Massive Food Market Will Power Public BusesUS dockworkers agreed to end a three-day strike that had paralyzed trade on the US East and Gulf coasts and threatened to become a factor in the presidential election.The International Longshor
- Reuters
Maersk, Hapag-Lloyd will add more vessels to alliance if Red Sea disruption continues
Maersk and Hapag-Lloyd could add more container vessels to an alliance announced earlier this year if shipping disruptions in the Red Sea continue, the companies said on Tuesday. Attacks in the Red Sea by Iran-aligned Houthi militants have since late last year forced shipping companies to reroute traffic away from the Suez Canal and instead sail around Africa, a longer journey that ties up more capacity. Maersk and Hapag-Lloyd in January said they had agreed on a new collaboration, starting in February of 2025, to transport a combined 3.4 million containers annually with a fleet of 290 vessels, in a tie-up known as the Gemini Cooperation.
