rss icon Subscribe
desktop mobile

DFDS Cuts 2019 Outlook on Brexit

Kell Robdrup, Senior Vice President. Photo: DFDS

Laxman Pai

Danish international shipping and logistics company DFDS announced that the exceptional uncertainty on the outcome of Brexit is currently reducing UK trade and visibility.

Uncertainties surrounding Brexit made the world's leading ferry operator downgrade its full-year expectations for revenue and operating profit. CEO Torben Carlsen describes the circumstances as "extraordinary."

The biggest Nordic ferry operator lowered its expected revenue growth to to 6-8% from a previous growth forecast of 10-12%. It now expects EBITDA before special items of 3.5-3.8 billion Danish crowns ($520 million - $570 million) from a previous forecast of 3.8-4.0 billion.

Since 2016, DFDS has been preparing for Brexit. "Our international Brexit team works with our local teams as well as the customs and border authorities in each country to prepare for Brexit, and we have come a long way with this," says Kell Robdrup, Senior Vice President and responsible for North Sea freight routes and major port terminals. Preparations include training and hiring staff to build knowledge and competence relating to customs clearance.

"We aim to offer customs clearance as a new service to our customers. In addition to customs competence, this includes allocating or acquiring extra space at terminals for customs clearance, and for storing trailers that are awaiting customs clearance," says Kell Robdrup.

Aug 14, 2019

 

People & Company News

Klaveness' CLEANBU Switch from Wet to Dry Cargo

MV Baru. Pic: Klaveness Combination Carriers

Norway-based shipowner Klaveness Combination Carriers (KCC) has undertaken a wet-dry cargo switch

DP World Profits Up 27% in H1 2019

DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem. Photo: DP World

Dubai International Ports Group (DP World) announced a strong financial results for the first six

JAXPORT Acheives Record July

Pic: JAXPORT

Jacksonville Port Authority (JAXPORT) announced that it has achieved its best ever July container

Finance

DP World Profits Up 27% in H1 2019

Dubai International Ports Group (DP World) announced a strong financial results for the first six months of the year ended June 30, 2019 and its profits soared by 27% to US$753.

Frontline buys 10 Tankers from Trafigura

Frontline will buy 10 Suezmax oil tankers from Trafigura in a cash and share deal worth up to $675 million, and may buy a further four vessels later, the two companies announced

China Unveils Retaliatory Tariffs as Dispute Escalates

AdobeStock / © rawf8

China unveiled on Friday retaliatory tariffs against about $75 billion worth of U.S.

Maritime Apps