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...Company advisers and insiders recount stories of new hires being fired within days if Saadé felt they would not fit....
...Diverting container ships via the Cape of Good Hope adds about 13,000km in distance for an Asia-Europe round trip, and hundreds of dollars per container, Clerc said....
...Mazars primarily cited the fact that the group had not consolidated the accounts of the parent company and its subsidiaries “according to the same accounting periods”....
...to the continent’s biggest seaports handling tens of millions of containers each year....
...That seems to be the strategy adopted by big container shipping companies....
...An extra 8 per cent in container shipping capacity was likely to come online in 2024, similar to last year’s levels, the company said....
...The sector has consolidated in recent years, partly because container shipping lines have sought to use the profits they made during the pandemic to buy logistics businesses and expand the scope of their...
...Shares in Denmark’s AP Møller-Maersk, operator of the world’s second-largest container ship fleet, fell sharply this month after its chief executive warned that industry overcapacity would put the company...
...However, rising rates have increased borrowing costs at companies PE equity groups own, putting them under more financial pressure....
...Daniel Richards, a director at London-based maritime consultancy MSI, said delays at the ports could force some companies to hold extra stock....
...The vessel is operated by Geneva-based Mediterranean Shipping Company, the world’s biggest container shipping line....
...Furthermore, a worsening supply chain may be bullish goods demand as companies over-order to ensure adequate inventories. In other words, supply-chain disruptions are BACK IN for 2024....
...The moves come as major container shipping companies continue to avoid the Red Sea, and following explosions on Wednesday in Kerman, south Iran, which reportedly killed more than 100 people....
...The research, by the London-based shipping services company Clarksons, also showed that the number of container ships diverting from the Red Sea to travel round the Cape of Good Hope on January 9 was more...
...After a probe into the deal, the US justice department said it would have consolidated control of more than 90 per cent of global insulated and refrigerated container production in Chinese state entities...
...“This confirms that there are no quick solutions to this crisis,” said Peter Sand, chief analyst at Xeneta, a container market intelligence company....
...The committee that oversees the consolidated tape has begun meeting, according to two sources, to examine the issues involved in shifting to 24-hour trading — including who should bear the costs....
...French container shipping group CMA CGM abandoned its pursuit of UK logistics company Wincanton on Tuesday, making it almost certain that a rival bid by GXO would succeed....
...Simon Heaney, senior manager in container research at London-based Drewry Shipping Consultants, said there was “definitely pain” for shipping companies’ customers as a result....
...Now the attacks on container ships navigating the Red Sea have forced vessels to take longer journeys around the Cape of Good Hope, cutting into expected excess capacity in the sector this year....
...The waterway accounts for 30 per cent of all container ship traffic and is a vital conduit for crude oil shipments....
...Clarksons estimates that shipbuilding capacity has dropped 35 per cent since 2010, as shipbuilders consolidated in recent years....
...According to the congressional letter, the company accounts for 80 per cent of cranes at US container terminals....
...Logistics companies have looked anew at routes through Russia following the decision of most large container shipping lines to divert Asia to Europe sailings that would normally go through the Suez Canal...
...The container shipping industry, a bellwether of global trade, is facing a difficult period following a boom driven by the Covid-19 pandemic....
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