All Maersk articles – Page 5
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FeatureMaersk estimates cost of NotPetya cyber-attack at $200m-300m
Shipping company AP Moller-Maersk says it expects the impact of the NotPetya cyber-attack in June to have cost the company $200m-300m, of which the majority relates to lost revenues in July.Despite this, the company still expects to beat last year’s figure of $711m in terms of underlying profits for the ...
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FeatureFedEx admits TNT hasn’t fully recovered from June’s cyber-attack
Global courier company FedEx has admitted that its subsidiary TNT Express is continuing to suffer from the effects of last month’s cyber-attack. The firm is still processing some transactions manually, it said, and some data may never be fully recovered.“All TNT depots, hubs and facilities are operational and most TNT ...
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FeatureCosco Shipping makes $6.3 billion bid for OOIL
Cosco Shipping lines is leading a bid to buy rival Orient Overseas (International) Ltd (OOIL) for HK$49.25 billion ($6.3 billion), as consolidation in the shipping industry continues.OOIL is the seventh largest container shipping company in the world, with extensive container shipping routes and networks. Cosco Shipping is currently the fourth ...
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FeatureHamburg Süd named as one of Volkswagen’s best suppliers
Shipping line Hamburg Süd has been named as one of the 19 winners in the annual Volkswagen Group awards for suppliers.The company, which is currently in the process of being taken over by larger rival, Maersk Line, received its award in the Global Champion category.Speaking at the awards ceremony on ...
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FeatureDaimler tests blockchain technology in loan issue
Daimler and German bank Landesbank Baden-Württemberg (LBBW) have teamed up on a project using blockchain technology for a €100m loan transaction.The entire deal for the one-year corporate Schuldschein (a loan agreement unique to the German market) was digitally carried out using the distributed digital ledger technology. This includes the origination, ...
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FeatureMaersk resumes online orders as port operations recover after cyber-attack
AP Moller-Maersk has resumed taking online bookings and said operations at all of the ports it has terminals at were now running “close to normal” after Tuesday’s cyber-attack.Earlier this week, Maersk, one of the world’s biggest ocean carriers with 600 vessels, said the ransomware attack had brought down IT systems ...
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FeatureMassive cyber-attack hits global shipping companies
AP Moller-Maersk and TNT Express are among a rapidly growing number of companies so far affected by this week’s global cyber-attack, which has also hit Ukraine’s power network, transport services and banks, as well as the Rosneft oil company in Russia.Security experts said a malicious software called Petya and a ...
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FeatureGreen light for Maersk Line's acquisition of Hamburg Süd
The respective boards of Maersk Line and Oetker Group have approved the agreement for a takeover by the former of shipping company Hamburg Süd, in a deal first announced last December.The acquisition of the Oetker subsidiary will add 20% to Maersk Line’s capacity and 26% to revenues, mainly on the ...
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FeatureLogistics providers recognised in GM supplier awards
General Motors has once again recognised the services of its logistics providers at its annual Supplier of the Year awards, held in Orlando, Florida, on March 31st.Out of the 118 global tier suppliers from 15 countries that received awards for products and services in 2016, 11 were from the global ...
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FeatureInttra snaps up Avantida to move into container logistics
Parsippany, New Jersey-based electronic shipping transaction platform Inttra has acquired Belgian empty container management solutions provider Avantida for an undisclosed sum.Avantida, based in Antwerp, specialises in optimising the handling of empty shipping containers. Its reuse and repositioning applications provide information for shippers and transport companies to help minimise miles driven, ...
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FeatureMaersk and IBM to introduce blockchain into global shipping industry
Shipping giant Maersk and IBM have announced a blockchain initiative that they say will help transform the cross-border shipping industry globally.The two companies said using the digital ledger system, made famous by the Bitcoin cryptocurrency, had the potential to save the industry billions of dollars when adopted at scale. Ninety ...
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FeatureWhat to watch in 2017
The automotive supply chain could take several knocks in 2017 from rising protectionism and regulatory changes. Automotive Logistics consults its crystal ball to highlight some of the potential hotspots…North AmericaWhich way will Trump blow? There will be worries, especially in Mexico, about overhauls to Nafta or import rules, though it ...
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Feature2016 in review: takeovers, disputes and political upheaval
The year 2016 may well go down as one of the most significant in recent history – not just politically but also for the automotive supply chain. Surprise voting results in the US and Europe have created significant uncertainty regarding global trade that may go on for years and is ...
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FeatureMaersk Line buys Hamburg Süd as sector consolidation continues
Denmark’s Maersk Line, the world’s largest container shipping company, has agreed to buy Hamburg Süd, the world’s seventh biggest, for an undisclosed sum.The deal is just the latest in a series announcements reflecting consolidation in the shipping industry, which is suffering from record low rates and overcapacity. Back in August, ...
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FeatureK Line, MOL and NYK form container joint venture
Global maritime logistics providers Kawasaki Kisen Kaisha (K Line), Mitsui OSK Line (MOL) and Nippon Yusen Kabushiki Kaisha (NYK) are integrating their respective container shipping businesses in a new, as yet unnamed, joint venture. The merger includes the companies’ worldwide terminal operations, with the exception of Japan.NYK will own 38% ...
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FeatureKia switches to rail for parts shipments through Cordele
Governor Deal, centre left, is joined at the rail yard by CIS president Jonathan Lafevers, Georgia Rep. Buddy Harden, KMMG chief administrative officer Stuart Countess, Georgia Ports Authority Board chairman Jimmy Allgood, and GPA executive director Griff LynchKia Motors America is moving the shipment of inbound parts through the ...
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FeatureMaersk Group appoints Søren Skou as CEO
Søren Skou (pictured) has been appointed CEO of AP Møller-Maersk, replacing Nils Andersen, who is leaving Maersk Group. The changes will take place on July 1st.Skou takes on the new role in addition to his existing position as CEO of Maersk Line, a job he took up in 2012. He ...
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FeatureChina-Europe rail: The road less travelled
The old Silk Road that connected China to Europe rose to significant prominence during the seventh and eighth centuries, when not only was silk moved from China but also spices, paper and noodles across Eurasia. The route has been disrupted and dismantled many times during the last millennium or more, ...
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FeatureIran back on the map as a contender in the car market
Last week’s official lifting of many international economic sanctions against Iran could mark a major step forward for both its domestic car producers and those international brands eager to make the most of pent up demand in the Iranian market. Carmakers and global shipping lines are among those companies who ...
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FeatureMaersk Line continues job cuts
After cost reduction plans were announced by Maersk Line last month, and more than 100 jobs have been cut, chief commercial officer Stephen Schueler has become the highest profile member of staff to leave the company.Between now and the end of 2017, Maersk plans to reduce its staff number by ...