Maersk expects profit hike on strong demand and Red Sea crisis
AP Møller-Maersk has raised its full-year earnings guidance amid “strong container market demand”. The Danish ...
AAPL: SHIFTING PRODUCTIONUPS: GIVING UP KNIN: INDIA FOCUSXOM: ANOTHER WARNING VW: GROWING STRESSBA: OVERSUBSCRIBED AND UPSIZEDF: PRESSED ON INVENTORY TRENDSF: INVENTORY ON THE RADARF: CEO ON RECORD BA: CAPITAL RAISING EXERCISEXPO: SAIA BOOSTDSV: UPGRADEBA: ANOTHER JUMBO FUNDRAISINGXPO: SAIA READ-ACROSSHLAG: BOUYANT BUSINESS
AAPL: SHIFTING PRODUCTIONUPS: GIVING UP KNIN: INDIA FOCUSXOM: ANOTHER WARNING VW: GROWING STRESSBA: OVERSUBSCRIBED AND UPSIZEDF: PRESSED ON INVENTORY TRENDSF: INVENTORY ON THE RADARF: CEO ON RECORD BA: CAPITAL RAISING EXERCISEXPO: SAIA BOOSTDSV: UPGRADEBA: ANOTHER JUMBO FUNDRAISINGXPO: SAIA READ-ACROSSHLAG: BOUYANT BUSINESS
PRESS RELEASE
Performance Team – A Maersk Company is taking strategic actions to decarbonize logistics in their future operations.
In September 2021, the company announced the order of 16 battery-operated, electric trucks from Volvo which will be delivered and operational in Southern California in Q2 2022. The first series of trucks will be tested and influence future orders.
Reducing greenhouse gas and other air emissions is a key driver for zero carbon operations for all trucking companies, and an important part of A.P. Moller-Maersk’s goal of enterprise-wide, carbon neutral operations by 2040 with significant steps to be taken by 2030.
To support the future fleet of electric trucks, Performance Team is now installing the necessary charging infrastructure in Santa Fe Springs, California in May and in Commerce, California in August. Additional sites are under consideration.
Javier Garcia Atique, Performance Team – A Maersk Company’s Senior Vice President of Transportation based in El Segundo, California said “It is our goal to be an industry leader in the decarbonization of logistics and utilizing Class 8 electrical vehicles (EVs) is a key component to our overall strategy in this space. By replacing internal combustion diesel trucks with electric alternatives, we are leading the charge towards climate
neutral logistics. This is important for our customers, our colleagues, and the communities that we operate within.”
One of the challenges with the operation of Class 8 EVs is the lack of charging infrastructure. To mitigate this limitation, Performance Team is working cooperatively with public utilities and local officials to ensure that charging infrastructure is built in strategically-placed locations to maximize the efficiency of our trucking operations. As more Class 8 EVs are added to our fleet, we will continue to learn more about the technology and adjust our operations to increase our efficiency while lowering our carbon footprint.
Charging time will depend upon the initial battery state of charge and the charging rate of the dispenser. For our initial charging installation (180 kW), we anticipate that charging times will be approximately 75 minutes.
Decarbonizing inland transportation through electrical trucks and creation of charging station infrastructure benefits both customers’ supply chains and communities, and is central to Maersk’s inland Environmental, Social and Governance (ESG) plans. More details on our ESG strategies will be shared during the company’s upcoming March 10, 2022 ESG event.
Carlo Bertani, Maersk’s North America Environmental Manager said, “Class 8 diesel trucks are important sources of carbon monoxide (CO), nitrous oxides (NOx), and particulate matter (PM) emissions. Heavy-duty diesel truck traffic often disproportionally affects low-income areas. By using Class 8 electric trucks, we will be reducing traffic noise and harmful PM and NOx localized emissions and provide environmental justice
benefits to these communities. In the near future, Maersk North America will be charging our entire fleet with 100% renewable electricity and have the ability to offer our customers an environmentally-friendly alternative for short-haul trucking.”
Performance Team currently operates 58 distribution and fulfillment center locations
in North America which is complemented by Maersk’s recent e-commerce logistics acquisition of Visible Supply Chain – A Maersk Company’s e-fulfillment centers in the U.S. and the intended acquisition of Pilot Freight Services which is under regulatory review prior to closing in Q2 2022 which will add 87 more locations serving first, middle and last mile logistics across the U.S.
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