Maersk Raises Forecast for 2014

Maersk Raises Forecast for 2014

Danish Shipping Company Improves Outlook as It Posts 62% Rise in First-Quarter Net Profit

 A/S Wednesday upgraded its outlook for the full year after a 62% increase in first-quarter net profit, as aggressive cost cutting outweighed falling freight rates at its container business.

The company, which operates the world's largest-capacity container-shipping fleet, raised its forecast of full-year underlying earnings to about $4 billion from an earlier estimate of $3.6 billion.

Maersk Line—the company's biggest unit, which generates about half of the company's revenue—now expects its full-year profit to beat 2013's profit of $1.5 billion.

 

 Maersk expects global demand for sea freight to rise

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EIA: U.S. wood pellets doubled in 2013 due to European demand

 

By:
                    US Energy Information Administration       

Wood pellet exports from the United States nearly doubled last year, from 1.6 million short tons (approximately 22 trillion Btu) in 2012 to 3.2 million short tons in 2013. More than 98 percent of these exports were delivered to Europe, and 99 percent originated from ports in the southeastern and lower Mid-Atlantic regions of the country.

Wood pellets are traditionally manufactured from wood waste (including sawdust, shavings, and wood chips) that results from wood processing activities, but they can also be produced from unprocessed harvested wood (generally at a higher cost). Wood pellets are primarily used as a residential heating fuel in the United States, but wood pellets can also be used for commercial heating

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Intermodal Weekly Market Report Week 18 Broker's insight

 

Tuesday, 06 May 2014 | 20:40

A bit more favorable wind is forecasted for 2014 for the Greek Passenger Shipping Companies. Most are becoming increasingly optimistic, noting that possibly the worst

 

http://drg.blob.core.windows.net/hellenicshippingnewsbody/pdf/Shiptrade%20Services%20SA%20+%20Intermodal/Intermodal%20Report%20Week%2018%202014.pdf

Dry bulk market still facing headwinds

 

Friday, 16 May 2014 | 00:00

Oversupply issues and a general weak sentiment have contributed towards the current weaker than expected state of the dry bulk market, which hasn't been able to move forward, despite record breaking demand from China. Yesterday, the Baltic Dry Index (BDI) was up by 19 points to reach 1,021, still almost half the level it had reached late in 2013. In yesterday's session, larger vessel sizes were the main contributors, with both the Capesizes and the Panamaxes gaining 50 and 47 points respectively. On the other hand, Supramaxes and Handysizes were facing weak market conditions, posting slight decreases.
In a note this week, BIMCO noted that despite the fact that China's steel output hit a record, the dry bulk market

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Dry bulk market still deemed a "minefield" for many ship owners

 

Thursday, 15 May 2014 | 00:00

The dry bulk market has failed so far to justify the positive sentiment which had prevailed during the final months of 2013, when the Baltic Dry Index was rallying to levels just below 2,000 points. As a result, sceptics have yet again resurfaced, questioning the level of predicted health in the balance between supply and demand, going as far as estimated a new level of tonnage oversupply in the coming years, especially given the fact that demolition activity has retreated once again this year.
According to Intermodal's latest weekly report, with almost half of the year gone by, the dry bulk market continues to exhibit signs of weakness, giving birth to a lot of uncertainty for both existing ship

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