The Purse Strings Archives - The Loadstar Making sense of the supply chain Wed, 06 Nov 2024 12:28:59 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 31889032 Mærsk vs ONE vs Matson – the earning curve https://theloadstar.com/maersk-vs-one-vs-matson-the-earning-curve/ https://theloadstar.com/maersk-vs-one-vs-matson-the-earning-curve/#respond Wed, 06 Nov 2024 12:28:59 +0000 https://theloadstar.com/?p=284303 As quarterly results from ocean carriers begin to filter into the market, we are already witnessing some revealing patterns for operating earnings per teu.
Background
The third quarter was a seesaw for carriers and customers alike.
The Red Sea crisis continued uninterrupted; then we bumped into a peak season on the Asia-Europe trade carried before anyone realised it was even on its way; and North America’s appetite for container imports was healthier than ...

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ONE enjoys huge profit rise – every eastbound transpac ship full https://theloadstar.com/one-enjoys-huge-profit-rise-with-every-eastbound-transpac-ship-full/ https://theloadstar.com/one-enjoys-huge-profit-rise-with-every-eastbound-transpac-ship-full/#respond Thu, 31 Oct 2024 17:19:13 +0000 https://theloadstar.com/?p=283956 Japanese container line ONE today reported its Q2 24 interim results that showed huge increases in profitability on the back of increased volumes and tightened supply, and vessel utilisation levels consistently at 90%-plus levels.
The carrier recorded a second-quarter revenue of $3.54bn, with volumes up 7%, to just over 3.3m teu across all its trades, while profits soared – Q2 EBITDA of just under $2.4bn was some 447% higher year on ...

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DSV and K+N see margins squeezed hard in third quarter https://theloadstar.com/dsv-and-kn-see-margins-squeezed-hard-in-third-quarter/ https://theloadstar.com/dsv-and-kn-see-margins-squeezed-hard-in-third-quarter/#respond Wed, 23 Oct 2024 12:42:27 +0000 https://theloadstar.com/?p=283346 Two of the largest global freight forwarders, DSV and Kuehne + Nagel, have reported Q3 results that indicate similar pressures on margins – although the Danish 3PL appears to manage the squeeze better.
A strong performance from K+N’s sea freight division saved the Swiss group from a quarter of year-on-year decline.
The group’s ocean division experienced a year-on-year gross revenue surge of 31.7% in Q3, hitting CHF2.9bn ($3.35bn), a marked contrast to ...

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Maersk expects profit hike on strong demand and Red Sea crisis https://theloadstar.com/maersk-expects-profit-hike-on-strong-demand-and-red-sea-crisis/ https://theloadstar.com/maersk-expects-profit-hike-on-strong-demand-and-red-sea-crisis/#respond Tue, 22 Oct 2024 10:22:07 +0000 https://theloadstar.com/?p=283216 AP Møller-Maersk has raised its full-year earnings guidance amid “strong container market demand”.  
The Danish carrier said “on the back of strong third-quarter results combined with strong container market demand and the continuation of the Red Sea situation” it has upped its full-year ebitda forecast to between $11bn and $11.5bn.  
This is up from its previous estimate of between $9bn and $11bn.  
Maersk also raised its predicted ebit to sit ...

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Clasquin sees margins squeezed in H1 as MSC takeover awaits clearance https://theloadstar.com/clasquin-sees-margins-squeezed-in-h1-as-msc-takeover-awaits-clearance/ https://theloadstar.com/clasquin-sees-margins-squeezed-in-h1-as-msc-takeover-awaits-clearance/#respond Thu, 19 Sep 2024 12:49:29 +0000 https://theloadstar.com/?p=280695 French freight forwarder Clasquin, currently the subject of a takeover offer by the world’s largest shipping line, MSC, this week reported 9.1% year-on-year growth in 2024 first-half revenue, to €310m ($345m).
Gross profit was up 4.7%, to €70.6m, but Ebitda declined 18.9%, to €13.3m, which the group said was due to “an increase in operating expenses linked to investments in the group’s digital tools, which will drive future growth”, as well ...

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Bolloré bounce boosts CMA CGM Q2 revenues, but job worries persist https://theloadstar.com/bollore-bounce-boosts-cma-cgm-q2-revenues-but-job-worries-persist/ https://theloadstar.com/bollore-bounce-boosts-cma-cgm-q2-revenues-but-job-worries-persist/#respond Thu, 25 Jul 2024 16:35:36 +0000 https://theloadstar.com/?p=277351 CMA CGM Group has announced a “robust performance” in the second quarter, with revenues up 6.8%, to $13.1bn. But insiders say not all is well in parts of the group.
Ebitda was down 4.3% to $2.47bn, while net income fell $670m to $661m.
The group said the revenue rise was in part driven by logistics, which was bolstered by the Bolloré Logistics integration.
Shipping volumes were up 6.8% to 6m teus. The group ...

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Contract logistics the star performer as DSV unveils mixed Q2 results https://theloadstar.com/contract-logistics-the-star-performer-as-dsv-unveils-mixed-q2-results/ https://theloadstar.com/contract-logistics-the-star-performer-as-dsv-unveils-mixed-q2-results/#respond Wed, 24 Jul 2024 12:37:52 +0000 https://theloadstar.com/?p=277225 Contract logistics was the star performer in the second quarter for DSV, reveals the Danish 3PL’s latest round of interim results.
Group-wide, despite a 9% year-on-year increase in revenues, to DKr41.2bn ($6bn), DSV saw EBIT decline 12.4%, to finish the quarter at DKr4.1bn.
The decrease was mainly driven by declines in its ocean and air freight forwarding business, which saw an 18.2% decrease in EBIT, compared with Q2 23, to DKr2.9bn, despite ...

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K+N eyes more cost-cutting after first-half profit and market share declines https://theloadstar.com/kn-eyes-more-cost-cutting-after-first-half-profit-and-market-share-declines/ https://theloadstar.com/kn-eyes-more-cost-cutting-after-first-half-profit-and-market-share-declines/#respond Tue, 23 Jul 2024 12:45:46 +0000 https://theloadstar.com/?p=277096 Kuehne + Nagel (K+N) vowed to continue to cut costs after reporting weak second quarter and first half 2024 results that failed to impress investors.
Group-wide revenues declined 9% year on year, to finish the first half at SFr11.6bn ($13bn), while EBIT was down 32%, to SFr778m, and net profit down 33%, to SFr576m.
The company said the “result was impacted by negative exchange rate effects of 2% in the first half ...

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Lessons from your fellow execs at ‘skittish’ JB Hunt https://theloadstar.com/lessons-from-your-fellow-execs-at-skittish-jb-hunt/ https://theloadstar.com/lessons-from-your-fellow-execs-at-skittish-jb-hunt/#respond Wed, 17 Jul 2024 11:22:43 +0000 https://theloadstar.com/?p=276653 The Q2 24 numbers from intermodal and transportation logistics firm JB Hunt of Lowell, Arkansas, served as a good reminder that, at times, there’s pride in defeat.
Oh yes, sir.
Sluggish performance
The interims released yesterday, 16 July, after the US market closed, unequivocally pointed to a soft market that is here to stay…
… across most of its operational units, with no “inflection” in sight.
(The investor pack is here.)
Aggregate $2.5bn in sales for ...

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Hapag-Lloyd eyes bigger profits as freight rates continue to rise https://theloadstar.com/hapag-lloyd-eyes-bigger-profits-as-freight-rates-continue-to-rise/ https://theloadstar.com/hapag-lloyd-eyes-bigger-profits-as-freight-rates-continue-to-rise/#respond Wed, 10 Jul 2024 12:11:32 +0000 https://theloadstar.com/?p=276230 On the back of rocketing spot freight rates, Hapag-Lloyd today upped its 2024 financial guidance after releasing unaudited first-half results.
The Hamburg-headquartered carrier issued an ad hoc advisory to the Frankfurt Stock Exchange saying it had raised its earnings outlook, “based on preliminary and unaudited figures” for the first half of the year which saw it achieve a group Ebitda of around €1.8bn and a group Ebit of €800m.
These compare with ...

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