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European shares increase after Powell's dovish remarks; focus on elections

Posted to Maritime Reporter on July 3, 2024

Investors welcomed the dovish remarks of Federal Reserve Chair Jerome Powell, and looked forward to the second round in France and the UK national elections. As of 0845 GMT the pan-European STOXX 600 Index was up 0.6%, marking a second consecutive session of gains.

DOF Group acquires Maersk Supply Service at $1.11 billion

Posted to Maritime Reporter on July 2, 2024

Norwegian shipping company DOF Group announced on Tuesday that it had signed an agreement with Maersk Supply Service Holding to purchase a Maersk Supply Service from them for $1.11 billion. The deal was a combination of cash and stocks. In the agreement, DOF will pay A.P.

Maersk CEO: Red Sea disruptions will continue in Q3, Maersk CEO

Posted to Maritime Reporter on July 1, 2024

Maersk, a Danish shipping company, said that disruptions in container shipping via Red Sea will continue through the third quarter. Maersk, among other shipping companies, has diverted ships around Africa's Cape of Good Hope to avoid attacks…

Maersk CEO: Red Sea disruptions will continue in Q3

Posted to Maritime Reporter on July 1, 2024

Maersk, a Danish shipping company, said that disruptions in container shipping via Red Sea will continue through the third quarter. Maersk, among other shipping companies, has diverted ships around Africa's Cape of Good Hope to avoid attacks…

Maersk withdraws from bidding for Germany’s DB Schenker; shares spike

Posted to Maritime Reporter on July 1, 2024

Maersk, the Danish shipping company, said Monday that it was no longer interested in purchasing DB Schenker because integrating this logistics firm would present too many challenges. Maersk had previously stated that it would consider buying the logistics division of Deutsche Bahn…