The US has been at the heart of this week’s trade news, as tariffs were threatened, delayed and imposed across the globe by the White House.
Read an update from the UK Chartered Institute of Export and International Trade.
Read here: IOEIT Weekly Report
Source: IOEIT
This week my old organization, World Customs Organization (WCO), hosted and interesting discussions among customs administrations, buisnesses and other international organizations at the WCO Global Forum on Origin Inter-connectivity.
Treviño Chapa delivering a key note speech at the event
The use of new technologies is revolutionizing the way we can certificate and verify origin of goods and also is allowing us to implement an interconnectivity framework.
Maersk reports strong financial results for 2024 with growth across all segments and significantly improved profitability with EBIT increasing 65% to USD 6.5 billion.
Results were driven by higher container demand and elevated freight rates in Ocean, top line and volume growth in Terminals and solid improvements in most Logistics & Services products.
Profitability in Ocean improved compared to the previous year supported by a significant increase in freight rates reflecting the situation in the Red Sea and strong volume demand. High utilization and cost discipline ensured that Ocean operations were streamlined and able to tackle uncertainties.
Logistics & Services demonstrated resilience with momentum building steadily each quarter culminating in volume growth, higher revenue and improved EBIT margin compared to 2023. Revenue grew 7% supported by solid growth in Warehousing, Air and First Mile product categories while profitability benefitted from progress in most products.
“Our ability to navigate shifting circumstances and ensure steady supply chains for our customers was put to the test throughout 2024. Our efforts were rewarded with record-high customer satisfaction. We are uniquely positioned to support our customers in an era where geopolitical changes and disruptions continue to reinforce the need for resilient supply chains,” says Vincent Clerc, CEO at Maersk.
”We are uniquely positioned to support our customers in an era where geopolitical changes and disruptions continue to reinforce the need for resilient supply chains,”
Vincent Clerc CEO Maersk
Terminals delivered its best ever financial results with EBITDA and EBIT reaching record highs. This was driven by significant top line growth due to strong volumes along with inflation-offsetting tariffs increases, a better customer and product mix, and higher storage revenue.
Read the full press release 👉https://lnkd.in/dTsse_sp
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