World News
DFDS Adjusts to 'New Normal' With Job Cuts
European ferry operator DFDS has targeted annual cost savings of DKK 250 million ($37m) as the company adapts to new market conditions.
The measures will mean 650 jobs going "in the coming months" with around a third of those positions going from its operations in Denmark.
The volume of freight carried by DFDS in the second quarter was "ahead of expectations" the company said nevertheless, the outlook for 2020 remained characterised by "high uncertainty".
Ferries laid up due to the sudden fall in demand have come back into service.
“Our initial response to Covid-19 has been successful. We now take further steps to restore long term growth and efficiency,” chief executive Torben Carlsen said.
The company's scrubber programme remains untouched by the measures, the company told Ship & Bunker.
Earlier this year, the company said that installing emissions abatement equipment on 37 of its 59-strong fleet had proved to be a success.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
Popular Now More
-
Apr 24Non-compete clauses have not always been used in a fair and reasonable way in the bunker industry, Maritime Recruitment Company Ltd's Vernon Jayanathan tells Ship & Bunker. -
Apr 25The new hire was previously a marine fuel trader for Vilma Oil in Madrid from June 2017 to last month. -
Apr 24The arrests were both on Monday.