Earth Science News
TRADE WARS
Maersk lifts outlook as China exports defy trade tensions; UAE inks $22 port deal stake in Latakia

Maersk lifts outlook as China exports defy trade tensions; UAE inks $22 port deal stake in Latakia

by AFP Staff Writers
Copenhagen (AFP) Nov 6, 2025

Danish shipping giant Maersk reported a drop in third-quarter net profit on Thursday, but it raised its outlook for the year as resilient Chinese exports buoyed container volumes despite global trade tensions.

The company, widely considered a bellwether for global trade, said it now expects an operating profit of between $3 billion and $3.5 billion, compared to the previous range of $2 billion to $3.5 billion.

Maersk posted a net profit of $1 billion for the third quarter, only a third of the figure for the same period a year earlier, which was lifted by high freight rates.

Revenue fell 10 percent to $14.2 billion for the period.

"We have delivered a strong third quarter across our business," chief executive Vincent Clerc said.

In its core business, called "Ocean", loaded volumes increased by seven percent, while the average freight rate was 31 percent lower than a year earlier, Maersk said.

Global container demand increased by three to five percent, despite geopolitical uncertainties, Maersk noted.

"Exports out of Far East Asia, and especially China, continue to be the main driver of solid volume growth," the company said.

US President Donald Trump has shaken up global trade with his tariffs campaign, with China one of his main targets, but Beijing and Washington are holding negotiations aimed at resolving their dispute.

Maersk noted that "volumes into North America contracted, particularly from China to the US.

UAE company inks $22 mn deal for stake in Latakia container terminal
Dubai (AFP) Nov 6, 2025 - AD Ports Group of the United Arab Emirates (UAE) signed a $22 million agreement Thursday for a stake in the container terminal at Syria's port in Latakia -- as Damascus seeks investments to boost its war-ravaged economy.

Abu Dhabi-based firm inked the deal with French shipping giant CMA CGM for a 20 percentage stake in the Latakia International Container Terminal, AD Ports Group said in a statement.

The Syrian government signed a 30-year contract in May with the French firm to run the Mediterranean port and modernise it, including the development of infrastructure to allow the entry of larger vessels previously unable to access it.

"We are pleased to broaden our long-standing partnership with our valued partner, CMA CGM Group," AD Ports Group chief executive Mohamed Juma Al Shamisi said.

"This strategic agreement reflects the growing international collaboration between our organisations and reinforces AD Ports Group's position as a global enabler of trade."

CMA CGM had operated the port's container terminal since 2009, during the rule of former president Bashar al-Assad, under a previous contract that was renewed several times.

Related Links
Global Trade News

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
TRADE WARS
China extends suspension of extra tariffs on US goods
Beijing (AFP) Nov 5, 2025
China said on Wednesday it would extend a suspension of additional tariffs on US goods for one year, making official an agreement reached in talks between presidents Xi Jinping and Donald Trump last week. The two leaders held talks in South Korea at the end of October that effectively prolonged a delicate truce for a year, after several rounds of trade negotiations in recent months. A statement published Wednesday on the Ministry of Finance website, citing Beijing's State Council, said that "for ... read more

TRADE WARS
US says sending $3 mn post-hurricane aid to foe Cuba; Jamaica deaths at 28

'Nowhere to sleep': Melissa upends life for Jamaicans

Mexico navy says rescued 28 teens from boat off west coast; US strikes four 'drug boats' in eastern Pacific

US says emergency teams ready for Hurricane Melissa

TRADE WARS
Self-driving lab learns to grow materials on its own

Inside Germany's rare earth treasure chest

EU probes China-backed bid for Anglo American nickel mines

US govt to become shareholder in rare earths processing firm

TRADE WARS
First evidence of Ice XXI phase observed at extreme pressure and room temperature

Threat from mining waste disrupts twilight zone ocean food webs

UV light holds promise for energy-efficient desalination

Only two weeks of water left in Tehran's main reservoir: official

TRADE WARS
Explorers seek ancient Antarctica ice in climate change study

Antarctic moisture research will model ice sheet formation in ancient warm periods

Six million year old Antarctic ice reveals deep history of Earth's climate

Polar bears sustain arctic scavengers with millions of kilograms of food each year

TRADE WARS
Why an Amazon chef said no to a vegan dinner for Prince William event

Vietnam flood death toll rises to 35: disaster agency

Extracting fertilizer from air and water

Growing rice in the UK 'not so crazy' as climate warms

TRADE WARS
50 dead as Caribbean digs out from Hurricane Melissa

Thousands evacuated as typhoon bears down on Philippines

Afghanistan quake kills 20, injures over 300: health ministry

Caribbean reels from 'unprecedented' hurricane destruction

TRADE WARS
Uganda kills 'herbalist' who attacked military bases

Tanzania president wins election landslide after deadly protests

Nigeria urges Trump meeting after military action threat

Axelspace forms partnerships in Africa to tackle social challenges with satellite data

TRADE WARS
Descended From Everyone, Related To No One

OpenAI says a million ChatGPT users talk about suicide

Guinea baboons implement social structure when distributing meat

European hunter-gatherers altered landscapes long before farming

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.