Maersk's first-quarter performance aligned with the company's expectations, reflecting a notable earnings rebound from Q4 2023.

The positive results were propelled by Terminals' solid performance and a confluence of factors including increased demand and the ongoing Red Sea crisis, according to the statement.

With these conditions anticipated to persist through the latter half of the year, Maersk has adjusted its guidance range, now anticipating underlying EBIT in the range of US$ -2 to 0 billion.

The Ocean segment experienced the impact of the Red Sea situation, facing elevated market rates and increased costs due to disruptions in the supply chain. Despite this, robust volumes, optimal capacity utilization, and ongoing cost control measures led to improved results compared to the previous quarter, noted the Danish ocean carrier.

Furthermore, Logistics & Services witnessed substantial volume growth, although margins were deemed unsatisfactory due to underutilization in certain warehouses and short-term challenges in implementing new customer contracts in the ground freight business in North America.

Four crewmen of a Chinese domestic cargo ship are missing after the vessel hit Jiujiang Bridge in Foshan in China's Guangdong province on 22 April.

The ship, whose name was not released, was carrying 4,900 tonnes of rolled steel along the Yangtze River from Fuzhou in Fujian province to Heshan in Guangdong province, when at 9.20 pm local time, it hit the base of one of the bridge pillars.

Built in 1988, Jiujiang Bridge forms part of the G240 National Highway connecting Foshan and Heshan.

Water started entering the cargo hold of the vessel, causing it to capsize. Seven of the 11 crew members were rescued, while the other four are missing.

After the incident, Foshan Municipal Party Committee Secretary Zheng Ke, Foshan Mayor Bai Tao, Guangdong Maritime Safety Administration Deputy Director Guo Weibin, among others, went to the scene to direct the rescue work.

At 6 am local time on 23 April, more than 300 police officers and maritime rescue personnel were deployed to search for the missing seafarers, without success. The search and rescue operations are still ongoing, and to facilitate the search, other ships are prohibited from entering the waters 3km upstream and downstream from Jiujiang Bridge.

Civil engineering experts examined the bridge and found no serious damage to its main structure but the base of the pillar, designed to withstand allisions, had scratches, and further appraisal of the bridge's structural safety was required.

In June 2007, a sand carrier hit Jiujiang Bridge, causing a 200m stretch of the bridge to collapse. Four cars on the highway, along with two construction workers, fell into the river below, killing eight persons.

Days of bitterly unusual weather across the Persian Gulf region have sparked serious concerns for ocean and air freight stakeholders, dealing another blow to supply chains already caught up in worsening geopolitical setbacks after the Iran-Israel faceoff.

Cargo agents and other shipping industry sources in Dubai have reported significant cargo delays and backlogs, which they believe could take up to a week to clear up and return to normalcy.

Sources have also told Container News that many ports in the region, including Jebel Ali, have had to deal with berthing delays because of extreme weather conditions.

“Over-the-road freight movements continue to remain disrupted at many places,” said a freight forwarder.

The forwarder source further noted: “Authorities are working at a swift pace to clear up the affected road networks,”

At the same time, container line sources have noted that leading port terminals in the region are now operating at near normal activity.

An executive at a major European container line said: “Most of the port operations are up and running, but the flooding is leading to cargo delays.”

Air freight verticals are said to have borne the brunt of the disruptions from torrential rains and storms, reportedly the most severe the UAE has experienced in 75 years.

Dubai Airport, the world's busiest hub, has seen widespread flight cancellations and diversions for the last two days, after the storm alarmingly flooded the runway.

Today marks the 120th anniversary of the Danish shipping company A.P. Moller - Maersk. The firm highlighted its remarkable evolution from humble origins in Svendborg, Denmark, to a global transportation giant.

Maersk historian Henning Morgen showed off some of the Maersk highlight items, exploring the company's heritage and uncovering some of the milestones that have shaped Maersk, from entering liner shipping in 1928 to the introduction of its first large methanol-enabled vessel in 2024.

South Korea’s Busan New Port has launched a seventh container terminal extending its box capacity.

The terminal’s opening ceremony was held on 5 April and was attended by South Korea's President Yoon Suk Yeol, who lauded the facility as a milestone in turning Busan Port into a world-class smart port and hub for global logistics.

The new facility is the first fully automated terminal in the country featuring remotely controlled ship-to-shore cranes, which were built in South Korea. The automated processes are expected to boost the port’s productivity by up to 20% compared with other terminals and significantly lower the risk of safety-related incidents.

The development project was carried out in phases, and the new port expansion is scheduled to last up to around 2040-2050. According to the Busan Port Authority, the overall expansion project will cost around US$32 billion.

In 2023, the Port of Busan handled 22.75 million TEUs, translating to a 3.1% growth compared to 2022 figures.