AP Moller-Maersk

Andhra Pradesh signs a Rs 9,000 crore deal with Maersk subsidiary APM Terminals to modernize the Ramayapatnam, Machilipatnam, and Mulapeta ports, boosting its maritime trade infrastructure.

Maersk is viewed as a barometer of world trade

Shipping giant Maersk said it will divert all vessels away from the Red Sea for the foreseeable future, warning customers of disruptions

Houthi attacks on merchant ships have caused widespread avoidance of the southern Red Sea by the merchant fleet moving everything from manufactured goods and grains to oil and gas

The company kept its full-year guidance for revenue and operating profit but now expects both to land at the lower end of the range

Global demand for containers is expected to contract by 4-5% this year due to Covid-19

Rent amount not disclosed, logistics firm brings seven business units from four different locations under one roof at Godrej Two

AP Moller-Maersk said full-year guidance 'continues to be subject to uncertainties', including further restrictions on global trade

The 112-year-old conglomerate will focus on its core transport and logistics businesses