Displaying items by tag: restructuring

14th October 2020

World's Largest Container Line to Cut 2,000 Jobs in Logistics Restructure

Maersk Line, the world's largest operator in container shipping is to cut 2,000 jobs. AFLOAT today tracked the line's Maersk Niamey of 2,592TEU (nominal) arrival at the Port of Cork following a trans-Atlantic route from Puerto Moin, Costa Rica in central America. Cork is part of Maersk's 'CRX - Southbound" service which connects Ireland with other Latin American destinations. The ship's next port of call is the UK at the London Container Terminal at Tilbury. Cork along with Dublin (above photo) and Belfast is also served by Maersk 'feeder' services to mainland Europe.

Shipping container giant, Maersk revealed that it will make around 2,000 staff redundant due to changes to the organisation linked to the integration of Damco into its Ocean Logistics business and the removal of the separate Safmarine brand, which it announced last month.

In a trading update for its third-quarter (Q3) 2020 performance and 2020 full year guidance adjustment, in which the world’s largest container shipping group also reported better-than-anticipated volumes and freight rates in the past three months.

Maersk said it “expects to take a restructuring charge of around US$100m in Q3 2020 related to the redundancies of approximately 2,000 employees as the consequence of the changes to the organisation in Ocean and Logistics & Services announced on 1 September 2020”.

With parent group A.P. Moller-Maersk announcing its was upgrading its full-year guidance for 2020 based on preliminary Q3 figures and the current outlook for Q4, Søren Skou, CEO of A.P. Moller - Maersk said: “A.P. Moller - Maersk is on track to deliver a strong Q3 with solid earnings growth across all our businesses, in particular in Ocean and Logistics & Services. Volumes have rebounded faster than expected, our cost have remained well under control, freight rates have increased due to strong demand and we are growing earnings rapidly in Logistics & Services.

More here LloydsLoadingList reports.

Published in Ports & Shipping

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Fastnet Line Closes For Good

#FERRY NEWS - The Fastnet Line ferry service between Cork and Swansea is to close with the loss of 78 jobs.

As previously reported on Afloat.ie, the operator had been in examinership since last November, and a restructured business plan had been submitted with a view to resuming high-season service in April.

However, in a statement the owners of the Fastnet Line said they had been unable to raise the €1m-plus investment required and that the examinership had "failed".

All 78 jobs will be lost as the company is set to be placed in receivership or liquidation later today.

The Fastnet Line - which was worth around €30 million to Cork in tourist spending - made its maiden voyage from Swansea to Cork in 2010, and was the only direct passenger and freight link between Wales and the south coast of Ireland.

The Irish Times has more on the story HERE.

Published in Ferry

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Forty Foot Swimming Spot on Dublin Bay

The 'Forty Foot' is a rocky outcrop located at the southern tip of Dublin Bay at Sandycove, County Dublin from which people have been swimming in the Irish Sea all year round for 300 years or more. It is popular because it is one of few spots between Dublin city and Greystones in County Wicklow that allows for swimming at all stages of the tide, subject to the sea state.

Forty Foot History

Traditionally, the bathing spot was exclusively a men's bathing spot and the gentlemen's swimming club was established to help conserve the area.

Owing to its relative isolation and gender-specific nature it became a popular spot for nudists, but in the 1970s, during the women's liberation movement, a group of female equal-rights activists plunged into the waters and now it is also open to everyone and it is in the control of Dun Laoghaire Rathdown County Council.

Many people believe that swimming in extremely cold water is healthy and good for the immune system.

Is it safe to swim at the Forty Foot?

The Forty-Foot is a great place to swim because there is always enough water to get a dip but like all sea swimming, there are always hazards you need to be aware of. For example, a lot of people like to dive into to the pool at the Forty-foot but there are submerged rocks that can be hazardous especially at low water. The Council have erected signs to warn people of the underwater dangers. Other hazards include slippy granite cut stone steps that can often be covered with seaweed and of course marine wildlife including jellyfish that make their presence felt in the summer months as do an inquisitive nearby Sandycove seal colony.