Soren Toft

Big moves in maritime – four exclusive C-Suite roles in Singapore this month. November has been awash with senior-level #maritime executive search activity, and the tide keeps rising! Just a couple of weeks ago, I mentioned a spike in executive searches, and since then, we’ve seen a wave of new assignments. In Singapore alone, we’re exclusively managing four confidential C-Suite searches for #shipping companies, spanning Commercial, Financial, Technology, and Legal disciplines. And it’s not just #Singapore that’s busy. We’re working on several other senior leadership roles across #Asia, #MiddleEast and #Europe, many #ShipManagement positions (both in-house and third party). If you’re a senior executive in shipping, help us find you faster. Register your details, and trust that the right people at Angle – including me – will see them. Whether it’s for an opportunity now or in the near future, we might have the perfect role for you. On a personal note, we’re making waves internally too. A larger office space is on the horizon in January, when we’ll be expanding our team to keep up with demand. Exciting times ahead! And as for the picture… well, I had two minutes between meetings, and that’s as good as it gets - Maybe more of a teapot than scales, but hey, we do what we can! Angle Recruitment, Maritime Talent Experts #CCO #CFO #CTO #ChiefLegal

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CMA CGM has released their Q1 2024 results. Some of the elements I notice are the following: At a group level, CMA CGM has an EBITDA margin of 20.2% down from 27.0% in Q1 2023. For comparison the Maersk group saw EBITDA margin drop from 28.4% in Q1 2023 to 12.9% in Q1 2024. The two groups are at a high level almost eqaully exposed to the shipping market. In Q1 2024 CMA CGM saw 66.4% of the revenue come from their shipping division. For Maersk 64.8% came from what they call the Ocean division. CMA CGM saw volume increase 11.7% which is an increase in market share as the global market as per CTS grew 9.2%. Revenue per TEU was down -20.7% which should be compared with CTS’ data showing the average global rate declined -13.2%, hence the French carrier saw a larger drop in unit revenue compared to the average global market. Given that both Maersk and CMA CGM are actively involved in logistics – albeit with a difference in their strategic approach – it is also of interest to note the difference in EBITDA margin reported by the two carriers. In Q1 2024 CMA CGM’s logistics division had a margin of 9.3%, up from 8.7% last year. Maersk at the same time saw a decline in EBITDA margin from 9.1% in Q1 2023 to 7.6% in Q1 2024. In CMA CGM the revenue from logistics accounts for 32.8% of the group revenue whereas in Maersk the logistics&services segment accounts for 28.4% of the revenue.

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New networks announced from MSC and Premier Alliance. Premier Alliance (PA) is the new name for the THE Alliance from next year and is comprised of ONE, Yangming and HMM. PA is an agreement running until 2030. MSC fields a stand-alone east-west network but will have a slot exchange agreement with PA on the Asia-Europe trade. PA had earlier announced their Pacific network, and now the agreement with MSC solved the issue of how to field a comprehensive Asia-Europe network after Hapag-Lloyd exits the alliance. PA has not announced Atlantic network yet. MSC has announced 2 networks: One based on a Suez routing and another based on a routing around Africa. This appears to be prudent given we don’t know when the Red Sea crisis will be resolved. PA has for now only listed a Suez-based network, albeit a few of the services are marked as round Africa. PA and MSC has some shared services on Asia-Europe, but also some that they do not share. PA for example has 2 services, FP1 and FN2, connecting Japan to N.Europe, whereas MSC does not. Overall PA and MSC share 4 services on Asia-N.Europe. MSC’s Albatross, Britannia and Griffin services are not shared with PA. The FN2 is, however, the same as Griffin, except only PA has Japan calls. One quirk is that on the FE6/Swan service, it is only MSC which has port calls in Aarhus and Gothenburg, meaning they want to offer this exclusively. Which is also interesting as Maersk will no longer service these ports directly when the Gemini network gets into effect. On Asia-Med, MSC has 6 services whereof PA has slots on 4. MSC’s stand-alone services are Jade and Phoenix. PA has no standalone services from the Far East. On the MD3/Tiger only MSC has ports calls in the Middle East on the backhaul. On the MD4/Dragon only MSC has port calls in West Africa, India and Sri Lanka on the backhaul. MSC has 6 Asia-USEC loops, 5 of these through Panama, and 4 Asia-USWC loops. They feature a call in Portland, Oregon. MSC has 11 Atlantic services, hereof one from Med. to the USWC. For shippers it appears that the alliance shake-up is indeed leading to more variety in the terms of network setups offered in the market. You can see the new MSC network here: https://lnkd.in/dHjC3iJp You can see the new PA network here:   https://lnkd.in/diWrKpYA Today is day 268 of the Red Sea diversions

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Thanks Thomas Bagge and the #dcsa team for an insightful report on the ambition for the digital future of container shipping. Look to be one of the enabling technologies for driving digital innovation and transformation in the industry! #realtimevisibility #digitalshipping #digitansupplychain

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41% of supply chain leaders say demand and supply variability is their biggest challenge—are we surprised? From pandemic shocks to geopolitical tensions and extreme weather events, supply chains have been tested like never before. But disruption isn’t just a challenge—it’s a wake-up call. Resilient, agile, and sustainable supply chains are no longer “nice-to-haves”; they’re the foundation of staying competitive in an unpredictable world. Our recent report with Supply Chain Dive reveals how companies are transforming their supply chains to adapt to these new realities. From leveraging AI to optimize inventory, to prioritizing sustainability with carbon-cutting strategies, the future is all about smarter, greener, and faster supply chain solutions. Ready to future-proof your supply chain? Discover how industry leaders are prepping for a greener, more agile tomorrow in the full report below. #DPWorldAmericas #Logistics #SupplyChain

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CMA CGM: Pioneering Sustainable Shipping with VCR Technology 🌍 CMA CGM is taking a bold step towards greener shipping by trialling WinGD’s groundbreaking Variable Compression Ratio (VCR) technology on its container vessels. This marks the first-ever field test of this innovative dual-fuel engine technology, following successful factory trials that showcased significant efficiency gains with both diesel and LNG. The VCR technology adapts cylinder compression based on fuel type, ambient conditions, and engine load, leading to reduced fuel consumption and lower greenhouse gas emissions. This is a game-changer in marine engine design, where compression ratios have traditionally been fixed. The project is a long-term, full-scale test aimed at confirming the operability and reliability of VCR. Onboard testing is set to commence after the vessel’s dry-docking in September. Read more about this exciting development: https://lnkd.in/gqevaNWZ #ShippingInnovation #SustainableShipping #GreenTechnology #CMA_CGM #MarineEngineering #DualFuel #VCRTechnology #WinGD #LNG #Diesel #MaritimeFuture

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In the aftermath of Hurricane Helene and with the port strike deadline fast approaching, the elasticity of supply chain networks and the robustness of contingency plans will be tested under unforeseen constraints. While shippers had months to prepare for the strike, Helene has added an additional layer of disruption. The beneficiaries of these challenges will likely be companies that have implemented and tested technology to optimize their networks, fully utilizing capacity and resources. The freight market is at a critical juncture, and the ability to adapt will define success moving forward. #SupplyChain #FreightMarket #ContingencyPlanning #Logistics #PortStrike #Technology

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European #container ports are struggling. Maersk Line, Limited has recently been cautioning customers about high yard density at the Port of Barcelona, while terminals in Algeciras and Tangier are also experiencing strain due to increased volumes. Rerouted traffic from Asia to Europe — as shipping lines opt for the Cape of Good Hope route instead of the Suez Canal — is acting as the main culprit of this crisis, with goods that were destined to ports in Italy, Greece and Turkey, finding ‘intermediary’ houses on the way. Here’s what happens: —> After coming around South Africa, vessels are dropping off containers at ports on the western side of the Mediterranean (Algeciras and Tangier) —> There, short-distance “feeder” services are ferrying the goods to other southern European terminals. —> This “trans-shipment” movement is unprecedented, and is crippling port operations. The general redirection in shipping routes, now coupled with port bottlenecks, raises concerns around potential shortages of components and increased inventory costs for retailers and manufacturers in Europe. Within this scenario, specific terminals are struggling more than others.  Those handling finished cars are grappling with severe congestion, driven by a surge in vehicle exports from Asia to Europe and North America, and exacerbated by a slowdown in vehicle sales. Services might keep getting rerouted further, with vessels often waiting offshore due to the heavy port congestion and/or traveling to less convenient ports farther away. We know what this could mean for freight. #shipsandshipping #disruption #redsea

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E-fuels in the money by 2029, which also happens to be the timeline for our first 120kT e-fuel plant in Texas... biofuels won't be the solution, but will play a role. Europe has said categorically no to 1st gen biofuels from food crops from a sustainability perspective, which leaves increasingly feedstock constrained opportunities including Biodiesel from Waste Oils, Bio-oil from Pyrolysis and Used Cooking Oil (UCO) for example. One nugget (excuse the pun...) is that if you were to use all the used cooking oil (UCO) from the UK's largest fast food chain McDonalds' 1,300 restaurants (stretch) then you would achieve.... 5,000 tonnes of biofuels per year. One container ship needs 40,000 per year and there are thousands.

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From a casual look at the implications of Houthi rebels firing on vessels headed toward the Suez Canal, you could come away with the impression that this is a calamity for the shipping industry. Cargo headed from Asia to Europe and the US must now go the long way around the African continent, adding costs and delays. That is true, but — yet again — higher costs spells fatter profits for the shipping industry, which basically functions like a cartel and is in no way transparent to those who depend on it. Which would be all of us. #supplychain #shipping #trade #globalization

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Latest update from the clever market research department in Esgian Shipping. In the coming days, we'll be sharing some quite interesting observations of the global multipurpose (MPP) segment - one of two niche markets covered by Esgian. Why be "something for everybody, when you can be everything to somebody"? At least we try our best... Stay tuned! (And yes, do click that follow button so you don't miss out of anything - best cure for #FOMO) #projectcargo #mpp #commercialanalytics #marketdynamics #breakbulk

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We launched Angle Recruitment, Maritime Talent Experts and moved into our first office in September 2023. Fast forward 10 months, we have just made our third office move, much sooner than expected. We're settled into a private office at the The Executive Centre, a fantastic co-working space with a stylishly designed shared executive lounge, reception, and pantry. The name is spot on, and it truly has an executive feel. Our clients and candidates appreciate our private meeting room facilities, and the team at Angle really enjoy the working environment, so do I! I recently came across a post by Steven Bartlett from The Diary Of A CEO that really resonated with me: “If you have a team of five, each person represents 20% of your company culture. Ensuring that your initial hires truly embody your values is key because that's the culture you will scale.” I couldn’t agree more. While it's great to see our company growth, I'm cautious about scaling too quickly. Ensuring our team is the best in class, gets all the help and development they need, supports one another and truly enjoy their jobs is far more important than rapid expansion. I'm proud of the balance we've struck in our first year, and the results have been outstanding. It's a testament to the incredible work the team is doing. Check out this 2-minute snapshot video of my talk with Andy Willett about co-working spaces and my decision-making process. If you’re setting up a business or planning to set up in Singapore, you might find it useful. The full interview is 13 minutes which you can find on makeit:work media's website. #BusinessGrowth #TeamCulture #SingaporeBusiness

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2024 has been SupplyChain’s Agility year. From aviation to oil & gas, railways to warehousing, pipelines to port terminals, and B2B to D2C. Global happenings in the Red Sea axis, Panama Canal’s climatic condition’s effects, Asia’s economic indices, the challenges of mining and production, to the logistics and freight costs, and the oscillating purchasing power of today’s consumers. The sachet economy describes the trend of selling small, affordable portions of products to consumers. This method of packaging and pricing is particularly popular in developing countries, where many people have limited disposable income. However, it is prevalent in developed countries too, as companies recognize the benefits of focusing on the market share of budget-conscious consumers. Many FMCG analysts have found out that daily consumption of sachet products (dairy, sugar, beverages, spirits, biscuits, and other snacks) are higher (frequency-wise) than the ones in tins,plastic jars and drums. Budget-conscious consumers can ‘ test the waters’ on new products too, with the acquisition of few sachets of desired products, which will then result in a spike in market share and GMV. Today’s consumer is living on the Biblical phrase “give us this day,our daily bread”. There are similarities between the Asian and African markets, basis population, purchasing power and market peculiarities . Sachet packaging originated in India in the 1970s with the launch of Hindustan Unilever's "Project Shakti". The project aimed to bring Unilever's products to rural areas of the country by packaging them in small, affordable sachets. This allowed for more affordable pricing for rural consumers and helped Unilever to reach new markets. This is being replicated by many FMCG companies, and also pushed by B2B and B2C e-commerce and omnichannel platforms across all climes. A visit to manufacturing companies, distributor warehouses and retailers’ outlets show that the daily spend and market share of sachets outweigh that of bigger containers. Market intel is very important to the “Why” and “How” of product design, development and receptability of the market to consumer products , whether sachet or not. The sachet economy is also an eye opener for renewable energy and recycling technology players, in the optimisation of consumed sachet economy trash (used sachets) to recycle and create new products, that will mitigate littering and waste management challenges. The customer is king and must be studied to determine what he or she needs. #SachetEconomy #FMCG #Sachet #MarketIntel #ConsumerBehaviour

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🇨🇳 Mission to China | This week, a delegation of the Marseille Fos Port Authority, headed by the Director of Business Development and Intermodal Solutions, Amal LOUIS, is travelling to China to strengthen economic ties and promote the green maritime corridor between China and Europe via the Mediterranean. 🌟 China is the leading trading partner of the #portofmarseillefos and represents considerable growth potential for logistics flows between Asia and Europe. By developing an optimised maritime corridor, Marseille Fos offers Chinese companies direct access to European markets, reducing transit times and costs compared to northern ports. 📅 From 4 to 6 November, the Grand Port Maritime de Marseille - Port de Marseille Fos will be meeting many of the key players in trade between Europe and China in the France Pavilion at the China International Import Expo (CIIE), and will be stepping up its trade with China. Today in Shanghai, the delegation took part in the Choose France seminar organised by Business France. Amal LOUIS had the honour of opening the round table on ‘the future of maritime transport / towards a reduction in carbon emissions’ to highlight the Port's initiatives in this area, in particular the onshore power supply system (CENAQ - Smoke free stopover) and alternative fuels, demonstrating the commitment of the Port of Marseille Fos to strengthening its trade with China via a sustainable maritime corridor. #portdemarseillefos #CIIE2024 #Shanghai #China  CCI FRANCE CHINE Ambassade de France en Chine

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MSC to equal Maersk and Hapag-Lloyd’s Gemini fleet. Gianluigi Aponte-founded Mediterranean Shipping Co (MSC) has become the first liner to command a 20% global market share since Maersk momentarily hit such heights for a few months in early 2018. MSC is also just one megamax delivery away from becoming the first carrier in the world to operate a fleet in excess of 6m teu. While MSC has created enough critical mass to operate alone from next year, Maersk has reached out to Hapag-Lloyd to form the Gemini Cooperation, which will officially launch in February 2025. Analysts at Alphaliner forecast that MSC’s market share will be equal to Maersk and Hapag-Lloyd’s combined come the launch of the Gemini Cooperation early next year. From the company’s launch in 1970, it took MSC some 37 years to reach a fleet capacity of 1m teu. Only four and a half years later, MSC then passed the 2m teu mark. By early 2022 it had surpassed Maersk as the world’s largest carrier on the back of record newbuild orders and hundreds of secondhand purchases in the 2020s. At the end of April, Danish consultancy Sea-Intelligence projected what the top 10 liner rankings will look like in April 2026, taking many aspects into account, including orderbooks, the carriers’ typical approach related to redelivery of charter vessels and the sale of secondhand tonnage. “MSC will grow their size advantage substantially compared to the second largest carrier – which incidentally will be CMA CGM, relegating Maersk to be the world’s third largest carrier,” Sea-Intelligence stated. By April 2026, MSC is projected to have a fleet with more than 7m slots. MSC, which is also a big name in the cruise sector, has diversified a great deal in recent years on the back of record profits investing in airplanes, logistics companies, newspapers, towage and car carriers. https://lnkd.in/eEgFKcGf

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This year witnessed a significant surge in Ro-Ro vessel orders, reflecting the escalating demand for ro-ro shipping services. A remarkable 68 new ro-ro ships were constructed in 2023, a stark rise compared to the mere five vessels built in preceding years. This uptrend in vessel production underscores the industry's response to the mounting requirement for efficient vehicle transportation, notably emanating from China. The nation's robust export figures reveal a substantial 5.2 million vehicles shipped out in 2023, further emphasizing the necessity for expanded maritime capabilities in the ro-ro sector.

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Very sharp increases in Drewry’s WCI spot rates this week. All Asia-Europe and Transpacific trades increase between 16-20% compared to last week. This equals some 600-700 USD/FFE increase There is market talk about a strong surge in demand, but all solid demand data is lagged hence no solid evidence for this. Capacity remains down for Asia-Europe due to Red Sea disruptions, but not for Transpacific. Keep in mind that port congestion in key hubs not located specifically within the Red Sea area also plays a role in this. Atlantic is still holding firm, whereas the backhaul from Europe to Asia keeps declining.

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