Shipping - Page 47

Drewry estimates that global box fleet rose 1% last year to 51.4 million TEU, to expand 2.3% over the year

U.S. Marine Transportation System supports $5.4 trillion of economic activity each year & employs 31 million Americans

New service will provide fast access between India and Saudi Arabia, UAE and Oman

Operation will be active along the main sea lines of communication in the Baab al-Mandab Strait and the Strait of Hormuz

Asia-Mediterranean/Black Sea recorded the steepest drop in schedule reliability from 61.9% in December to 39% in January

Spot rates from Far East into the U.S. have softened since last round of GRIs were implemented at the start of February

Europe-Indian Subcontinent trade is by far the most impacted; trade between Far East and North America least impacted

Ten vessels of 2,000 TEUs will be positioned in Mediterranean & Northern Europe to transport goods over short distances

Two reasons - retailers stocking inventories, strong consumer spending to drive volumes

Four global rating agencies – CDP, S&P, Sustainalytics, Moody’s – assign leadership status to Adani Ports

Validation covers specific targets to reduce emissions from Maersk’s own operations & across its supply chains

For the full year 2023, Maersk reported a profit of $3.9bn as against $29.7bn in 2022 - a drop of 87%