Transportinfo.org.uk - today's transport news in the uk, hand picked for you each morning

Thursday, 21 May 2020

Financial Times

• Tanker groups emerge as oil market turmoil winnersRise in freight rates stokes earnings for companies able to store cut-price crude

East Anglian Daily Times

• Harwich wins share of government aid to support ferry routes hit by coronavirus crisisThe Port of Harwich is in line for a share of a £35m government windfall to protect critical freight routes during the coronavirus crisis.

Chartered Institute of Logistics and Transport

• Container volumes at Moller – Maersk expected to be down 25% in Q2A.P. Moller - Maersk had a financially strong start to the year but expects volumes in Q2 to decrease across all businesses, possibly by as much as 20-25%.  Despite the COVID-19 pandemic’s profound impact on global trade the company kept momentum in its strategic transformation and demonstrated robustness to weather the crisis.  Earnings before interest, tax, depreciation and amortisation (EBITDA) improved 23% to USD 1.5bn compared to Q1 last year and the EBITDA margin increased to 15.9%. Revenue increased slightly to USD 9.6bn, despite lower volumes and mainly driven by Ocean....