The Streetwise newsletter takes a look at the performance of public shipowners that flout the ‘pure-play’ fleet concept
Finance
Maersk’s Vincent Clerc: container sector needs discipline to avoid another downturn
Maersk boss sees blanked sailings, slow steaming and lower charter the way forward.
Pacific Basin recruits ex-Maersk veteran as new CFO
Hong Kong-listed bulker owner’s new finance guy has also worked for Norden and ASYAD Shipping
Lindblad ekes out a profit as revenue more than doubles
New York-listed cruise ship operator beat analyst consensus for this year’s first quarter
Paying dividends: Genco Shipping proves it means business with reserve draw
New York shipowner misses analyst estimates but has seen bookings improve 20% in current quarter’s market rebound
Algoma Central keeps quarterly loss flat as revenue spikes but so do costs
Prolonged global recession and Russia-Ukraine conflict may hurt financial performance in second quarter, owner says
Scorpio Tankers buybacks ‘highly advantageous’ as discount to net asset value grows
Clarksons Securities says repurchases will provide good value after stock sinks 10% in a month
John Kartsonas launches tanker exchange-traded fund in New York
ETF hopes to replicate success of its dry bulk counterpart
Swire calls foul on Hong Kong tycoon over container ship sale
Shipowner and a secretive Hong Kong family office are fighting behind closed doors over an alleged ‘tort of conspiracy’ in a ship sale
Strong headwinds in air, ocean markets lead to big drops at Expeditors
Expeditors International had a first quarter that one might have expected in air and ocean freight markets that have been dropping hard.
The Seattle-headquartered global logistics company did manage to post in the first quarter a revenue decline of 44%, which sounds like a lot but is not as much as the 51% decline in its cost to secure capacity. It also kept its salaries and expenses in check, seeing those decline 13%.
The end result was that operating income for the company dropped 40%, which is...