Container Ships

Danish giant Maersk, the world’s largest container shipping firm, has posted blockbuster second-quarter results, as ocean rates have skyrocketed amid global supply chain bottlenecks. Revenue grew 58% to $14.2bn in Q2 and EBIT increased almost five times to $4.1bn. Earnings before interest, tax, depreciation and amortization (EBITDA) stood at $5.1 billion, up 200% from the $1.7 billion reported in the same period

The International Chamber of Shipping (ICS) has released a statement on the ongoing blockage of the Suez Canal by the ship Ever Given, noting that the incident lays bare the fragility of global supply chains. Guy Platten, secretary general of the ICS, said: “This kind of incident is rare, and it is a relief to see that no crew were injured and