Is latest wave of layoffs at Maersk a bad omen for logistics across the globe?
A global economic slowdown, with a sharp drop in demand, could be behind AP Møller-Maersk’s decision to lay off an additional 3,500 people. The Danish company, which owns the world’s second largest fleet, tells Port Strategy that layoffs have sadly been underway, as the firm looks to “intensifying” cost-saving measures. “Our industry is facing a new normal […]
Despite soaring profits, Maersk sees economic risks coming this year
Danish shipping group AP Møller-Maersk anticipates “a slowdown in the second half, a normalization”, according to its chief executive Søren Skou and in a report in The Financial Times. This comes despite the highest profits of $19.3 billion (+55%) made in its 114-year history, in the first quarter. “The visibility is quite low. Mainly we see risks […]
South Africa protests disrupt citrus exports
South African farmers have been hit by days of unrest and looting as trucks carrying produce are prevented from delivering to markets. The country’s citrus exports through the port of Durban have been halted after violence erupted in the KwaZulu Natal and Gauteng regions. Crowds have this week clashed with police and ransacked shopping malls, […]
