OceanX: China post-CNY – less cloud, more balloon; Mærsk's moves; a tough Q4
Things are looking up, in China at least
UPS today posted second-quarter results which saw international operating profits up 17%, supply chain and freight operating profit up 18% and “strong” European growth. Total revenue was down 1.2% to $14.1bn, over negative currency impacts and lower fuel surcharges. UPS recently announced acquisition plans, for G4S security company’s logistics arm, and is in talks to buy Coyote Logistics, but its share price has fallen nearly 15% this year. These earnings, however, top expectations. Seeking Alpha has the results.
Increasing scrutiny could stall rise of ecommerce platforms, as TikTok faces US ban
FAK rate hikes holding, with strong demand into peak season predicted
DSV could face $16m bill after helicopter is written off in haulage accident
Déjà vu as major ocean carriers scramble for tonnage and containers
Trade growth getting stronger, but ocean freight rates stay flattish
Rising costs of port congestion force surcharge by Asian feeder operators
Global airfreight volumes blooming as flower shipments take off
Comment on this article