Maersk eyes 'cut and run' moves as port congestion brings delays
*Edited at 10:45am on 12 February to include a response from PSA Singapore and Maersk* Maersk ...
GXO: WORST PERFORMER WMT: NEW STUNNING RECORD KNIN: BOUNCING OFF MAERSK: STILL BEARISHKNX: YIELD BOOSTWTC: TURKISH CARGO WINGXO: HAMMEREDWMT: DEFENSIVEAAPL: AI DRIVEGXO: PRESSURE BUILDSAAPL: SUPPLY CHAIN FOCUSMAERSK: PE PORT PURCHASEDHL: GREEN PHARMA FLIGHTS
GXO: WORST PERFORMER WMT: NEW STUNNING RECORD KNIN: BOUNCING OFF MAERSK: STILL BEARISHKNX: YIELD BOOSTWTC: TURKISH CARGO WINGXO: HAMMEREDWMT: DEFENSIVEAAPL: AI DRIVEGXO: PRESSURE BUILDSAAPL: SUPPLY CHAIN FOCUSMAERSK: PE PORT PURCHASEDHL: GREEN PHARMA FLIGHTS
The Lion City is planning to increase annual capacity of its enormous port to an astonishing 65m teu per year. Bloomberg reports that Singapore has decided to pursue such an aggressive expansion plan – which is understood to cost around $8bn and could be completed within 10 years – on the back of companies such as Honda and Samsung building new production facilities in Vietnam and Thailand – assuming that these countries will continue to feeder much of their traffic to Singapore, rather than their ports becoming mainline ports themselves. A second assumption is that Europe’s economy will recover…
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