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Vehicle shipping firm Wallenius Wilhelmsen reported a 39.7% year over year drop in revenues in Q2 as the global automotive industry collapsed in the wake of COVID-19. The firm’s EBITDA margin dropped by 380 basis points compared to a year earlier after capacity reductions were insuffi... Read more →
Shipping firm Wallenius Wilhelmsen has reported a 20% year over year drop in volumes of cars and construction equipment handled Q1 as a result of lower demand for autos globally and disruptions to supply chains caused by COVID-19. With demand continuing to be low and disruptions to supply c... Read more →
U.S. retail sales have slumped as a result of COVID-19 linked store closures, but imports of electricals and electronics have not kept pace – higher inventories will likely be the result. DP-DHL outperformed the freight forwarder sector average in April. Also: Sonos wins tariff lenien... Read more →
The global shipping industry has started a period of reviewing strategic plans and adjusting earnings guidance to investors. Container-line Maersk has withdrawn its full year guidance citing “material uncertainties and lack of visibility”. Vehicle carrier Wallenius Wilhelmsen me... Read more →
The logistics industry is reacting to constraints caused by the spread of coronavirus. Flexport is limiting who it ships medical supplies for as U.S. imports of medical masks fall. Wallenius Wilhelmsen is mothballing capacity to deal with lower demand. Also: a coronavirus-linked container c... Read more →
Vehicle shipping line Wallenius Wilhelmsen reported Q4 revenues that fell by 8.3% year over year. A decline in auto sales globally combined with a “commercial prioritization of volumes” – namely not chasing market share – may have dragged on volumes. U.S. seaborne im... Read more →
The U.S. Justice Department has charged the former CEO of Hoegh Autoliners, Ingar Skiaker, with price fixing in the car shipping business from 2006 to 2012. That puts the issue firmly in the past, but is a reminder of the regulatory risks in shipping industry which often rely on partnership... Read more →
Wallenius Wilhelmsen has added the second of four new vehicle shipping vessels to its fleet. That follows rapid growth in its services – its U.S. seaborne inbound shipments climbed 15.7% year over year in 1Q 2019. That’s been driven by a 21.1% surge in handling of construction and oth... Read more →
Ten car carrier operators have been fined $38 million for fixing prices in South Korea from 2002 to 2012. The case follows a similar one in Japan that involved $202 million in fines. Panjiva data shows the car carrier industry remains highly competitive, with volumes largely unchanged on 10... Read more →
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