Hapag-Lloyd CEO anticipates the Red Sea crisis to potentially end by Q2 or Q3, with business interests aiding the resolution. The company expects transport volume recovery in 2024 based on early-year progress. Global oil demand is rising amidst Red Sea shipping disruptions, prompting the International Energy Agency to forecast growth. Hapag-Lloyd plans cost cuts due to global vessel oversupply and the Red Sea crisis, following an 83% net profit decline in 2023. Maersk CEO highlights unsustainable container rates and shipping costs. The Red Sea shipping diversions are likely to persist, posing challenges for global supply chains.
CEO of Hapag-Lloyd, one of world's top ocean shippers, says the outlook has changed for global economy, trade demand https://t.co/d9KTngixy3
Red Sea shipping diversions may last a few more months, and some people think they could go on even longer https://t.co/0sMD1iMynh via @b_muzz https://t.co/9M0YYSYhUj
Global oil demand to grow due to the rising fuel needs amid Red Sea shipping disruptions, says The International Energy Agency https://t.co/lIyroMANMu https://t.co/9vUrMwJ8iI
Maersk CEO says shipping costs are too low. https://t.co/rBXvfG3JKK
Container rates drop to unsustainable levels, Maersk CEO says https://t.co/3rk86a7PmT
German shipping company Hapag-Lloyd said that a global vessel oversupply and the crisis in the Red Sea would force it to cut expenses this year, and could reduce sailings https://t.co/NAeVWSvinY https://t.co/HdQGraBY8a
The International Energy Agency warns that oil supply disruptions are more likely in decades ahead. https://t.co/V49TL6tdep
Red Sea shipping diversions may persist indefinitely, causing challenges for global supply chains https://t.co/lhk5EpkVXe https://t.co/Km98nfkiP4
⚠️ MAERSK CEO SAYS CONTAINER RATES HAVE FALLEN TO UNSUSTAINABLE LEVELS Full Story → https://t.co/tBH7ExgDts The global container shipping market faces overcapacity in the coming years and the rates paid by customers have fallen to an unsustainable level, Maersk CEO Vincent…
Global oil demand is forecast to grow more than expected due to a brighter US economic outlook and rising fuel needs of ships rerouted away from the #RedSea, the International Energy Agency (#IEA) says. https://t.co/GakOcmi8BV
Hapag-Lloyd to seek cost cuts after net profit slump https://t.co/Xc7D2oAgpx https://t.co/9nJnmtrezv
The International Energy Agency says global oil demand to grow amid Red Sea shipping disruptions https://t.co/7JnO3M9GKd https://t.co/VDuDdowMZB
There’s no end in sight to the shipping disruptions in the Red Sea, CEO says https://t.co/fhj42p5fKf
German container shipper Hapag-Lloyd said global vessel oversupply and a crisis in the Red Sea will force it to cut expenses in 2024 and could reduce sailings, after it posted a 83% fall in net profit in 2023 https://t.co/NAeVWSvQdw https://t.co/A52G534jpr
NEW: World oil demand grows amid Red Sea shipping disruptions: IEA https://t.co/9GVQemZxta
HAPAG-LLOYD CEO: RED SEA CRISIS MAY BE OVER AT END OF Q2 OR Q3, WE HOPE, BUSINESS INTERESTS IN THE AREA MAY HELP DRIVE SOLUTION
HAPAG-LLOYD CEO: WE EXPECT SOME TRANSPORT VOLUME RECOVERY IN 2024, BASED ON JAN/FEB DEVELOPMENTS