Damco

Damco truck trailer

Damco is the second of two Netherlands-based firms to make the JOC’s Top 40 Global 3PLs list. It sits at No. 23 as a result of its $3.2 billion in revenue in 2013. Damco, the third-party logistics subsidiary of Maersk Group, provides freight forwarding and logistics solutions from its headquarters in The Hague, Netherlands.

Damco and its 11,400 employees operate out of 93 countries and 300 offices around the world. In 2013, Damco’s revenue fell 1 percent to $3.21 billion from 2012’s $3.23 billion. The company attributed this to restructuring, such as consolidating locations, and the implementation of a new information technology system to track orders.

03 Jan 2019
Peter Tirschwell provides insight into IMO 2020 impact, Maersk-Damco service changes, and expanding potential within data standardization.
19 Sep 2018
Maersk has taken the next step in its pursuit to become a supply chain integrator akin to UPS or FedEx.
Damco.
17 Aug 2018
The unit, which comprises Damco, Maersk’s freight forwarding operation, and the inland activities of APM Terminals, its global container terminal unit, increased revenue by 6.7 percent to $1.5 billion in the second quarter.
Belarus Europe freight train.
12 Jun 2018
More, faster rail route options with more reliability/visibility, are the chief reasons China-Europe rail use is increasing. Add the historic time advantage over ocean freight and cost advantage over air cargo and the net result is a shift in rail from an “interesting option” to “preferred transport mode" for many shippers.
16 Aug 2017
Maersk is “quite pleased with growth in the [air cargo] business.”
13 Jul 2017
The pledge comes as Maersk Line recognizes concern among shippers at booking containers with the carrier while it limps back to a business-as-usual state.
07 Jul 2017
It has been 10 days since a cyber attack crippled Maersk Line, Damco, and APM Terminals, but the carrier has reported a rapid rise in cargo bookings as its systems are restored.
29 Jun 2017
Maersk Line says it is close to bringing its operations back to normal after a massive cyberattack.
18 May 2017
Damco is using river transport to move freight to and from the port of Chittagong.
11 May 2017
Damco slid back into the red in the first quarter, positng a net operating loss of $8 million.
26 Apr 2017
With the help of Microsoft, Maersk Line plans to roll out customer software applications in the third quarter that will help beneficial cargo owners track containers and manage cargo.
05 Apr 2017
The Twill online portal, billed as a “virtual freight forwarder,” will go online Monday, but will only be available to UK shippers and then only those importing cargo from China.
08 Feb 2017
The Maersk Group said its forwarding and logistics arm still has some way to go to improve its performance.
13 Dec 2016
Maersk “will be like one company” offering container shipping, logistics, and port services.
02 Nov 2016
Damco posted another profit in the third quarter.
Damco's new CEO Klaus Rud Sejling has held positions within the Maersk Group across its transportation and energy divisions.
27 Sep 2016
Damco has named a long-time executive as its new CEO as the company’s parent Maersk Group reorganizes itself.
22 Sep 2016
Maersk Group will be reorganized into two separate divisions, with the synergy efforts expected to deliver cost savings of around $600 million over the next three years.
The synergies APM Terminals provides for Maersk Line make it unlikely the Maersk Group will choose to divest itself of its terminal operating arm.
17 Aug 2016
Maersk will announce the results of its ongoing strategic and structural review of group operations at the end of September.
Damco's strong performance could renew speculation that the Maersk Group will try to sell the unit as the company is in the middle of a strategic and structural review.
12 Aug 2016
Damco’s recovery continued as it was the only Maersk Group unit to boost earnings in the second quarter of 2016.
11 Aug 2016
Analysts do not expect Maersk Line to come out of the second quarter in the black.
Chemical shippers have been some of the biggest fans of Damco's Hub-in-Transit program.
15 Jul 2016
Damco has established three new global hubs to expand its Hub-in-Transit program.
14 Jun 2016
Damco, the global logistics and freight forwarding group, Tuesday launched container weighing services.
04 May 2016
Damco profit jumped triple digits in the first quarter.
11 Mar 2016
The U.S. government has fined two Maersk Group units a total of $3.66 million for documentation violations related to a defense contract the company described as “the submission of improper invoices.”
10 Feb 2016
Damco posted a $19 million profit in 2015, reversing a 2014 loss of $293 million in what Maersk Group CEO Nils Andersen called “an early sign” that the forwarder’s two-year turnaround program is working.
28 Jan 2016
Global logistics companies continue to pile into the Asia e-commerce market, with Damco launching a China solution and DHL expanding its growing presence in the region deeper into Thailand.
06 Nov 2015
Damco’s recovery gathered pace in the third quarter with the Maersk Group’s freight forwarding and logistics unit swinging to a $20 million profit from a $68 million loss a year ago.
13 Aug 2015
Damco posted a rare profit in the second quarter as Maersk’s troubled freight forwarding and logistics arm reaped the benefits of a radical restructuring program.
13 May 2015
Damco’s reduced first-quarter loss came at a price as the Maersk Group’s freight forwarding and logistics unit ceded more market share to its rivals.
25 Feb 2015
Damco’s decline deepened in 2014 as the Maersk Group’s freight forwarding and logistics unit saw ocean and air freight volumes slide in a growing market.
25 Feb 2015
Maersk Group made a record net profit of $5.2 billion in 2014, up 38 percent on the 2013 result and driven by a strong performance by Maersk Line, which reported a profit of $2.3 billion.
20 Nov 2014
Fresh from a dismal third quarter, freight forwarding and logistics provider Damco is expanding its multimodal presence in China’s electronics manufacturing hub of Zhengzhou.
11 Nov 2014
Damco slumped to a $68 million net operating loss in the third quarter from a $1 million profit a year ago as ocean and air freight volumes declined in a growing global market and experienced one-off charges related to a business transformation.
20 Aug 2014
Damco expects to end the year in the red after the logistics arm of Maersk Group lost $32 million in the s
06 Jul 2014
Damco, Maersk Group’s logistics unit,