On the wires: Bad news for Damco – Twill's new boss is 'one of the smartest people in Maersk'
“I am moving to The Hague, where I have been given the unique opportunity to ...
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By Mike Wackett
Maersk Line and Damco have clearly not been reading the script: over the past few years it has been the forwarder that made the profit and the carrier that posted red figures, not the other way round.
And as Maersk Line stole the limelight yesterday in AP Møller Maersk’s annual report, contributing $1.5bn of its $3.8bn net profit for 2013, sickly Damco posted a loss of $111m after what had clearly been a very disappointing year for the logistics arm.
The negative ...
Comment on this article
Michael Kusuplos
February 28, 2014 at 3:33 pmSeems that the low hanging fruit is not as constantly sweet as the assumption thought it would be; that there are seasons where it is most bitter? Have business leaders not yet learned that there is no such thing as an “Easy Market or a “Guaranteed Profit”? Stray from your core business and you learn this very quickly.
Ethan Buchman
March 03, 2014 at 3:13 pmThis, together with the other article posted this week on losses at CEVA, only drive home the point that larger freight forwarders are operating inefficiently. For example, I requested spot quotes from the 15 largest freight forwarders and only got two answers in about a week.
https://www.youtube.com/watch?v=0xFMJSj2N4A