-4.6 C
Hamburg
Thursday, February 13, 2025
Home News Financial difficulties for two of the biggest container lines

Financial difficulties for two of the biggest container lines

A.P. Moller-Maersk A/S is in an unusual place this year, as it finds itself the target of an attack by hedge funds. Shares in Maersk declined by more than 3% on Monday due to negative speculation brought about by rising fuel costs and the impact of the US-China trade war, according to Bloomberg.

Maersk Line, the biggest shipping container line in the world, has seen its short positions increase to about 6%, the highest on record, compared with 0.8% in September, as hedge funds fear the effect tariffs from U.S and China will have on transpacific trade.

Maersk Line, which has seen its shares drop by 20% this year alone, is not the only container line facing financial problems.

Hapag-Lloyd, the fifth biggest container line in the world, announced in July that it was going to cut costs in response to underwhelming profit forecasts that saw it lose almost $1.4 billion.

Read more on Bloomberg.





Latest Posts

Drewry survey indicates optimism for Red Sea shipping

Amidst the recent developments concerning shipping activity through the Red Sea, a new industry survey conducted by maritime consultancy Drewry highlights cautious optimism within...

Cargotec announces new leadership team for Standalone Hiab

Cargotec’s Board of Directors has approved the appointment of a new leadership team, which will comprise the current Hiab Leadership Team members, effective from...

Cape Town Container Terminal to suspend operations amid severe weather

Operations at the Cape Town Container Terminal (CTCT) are expected to be suspended over the upcoming weekend (15-16 February) due to strong winds, as...

Hapag-Lloyd eyes Hanwha Ocean for newbuildings, confirmation pending

Hapag-Lloyd has reportedly signed a Letter of Intent (LoI) with South Korean shipbuilder Hanwha Ocean to construct six 16,800 TEU LNG dual-fuelled container ships,...

Uncertainty arises in global shipping after Trump’s statement on ceasefire deal

On 10 February, US President Donald Trump announced that he would consider scrapping the Israel-Hamas ceasefire agreement if the hostages in Gaza were not...
error: Content is protected !!