Network Shipping, Fresh Del Monte's ocean logistics arm, is driving growth for Fresh Del Monte's third-party services by further enhancing its platform through a rebrand that optimizes cargo space on Fresh Del Monte's 13 owned vessels — offering tailored shipping solutions to a broader audience amid continuous supply chain pressures. The company's recent rebrand improves its service functions with digital technology that better supports human interactions, including a renovated and easy-to-use interface that efficiently streamlines customer bookings and trade-lane information.

The Department of Agriculture (DA) is eyeing to boost banana exports to Japan, allotting P3 million for a marketing and public relations campaign of the Pilipino Banana Growers and Exporters Association (PBGEA). The said campaign aims to strengthen the Philippine banana industry’s market access and possible price increase in the international market. “The domestic banana industry is optimistic that the marketing campaign will enable producers to secure the support of Japanese consumers in our bid to adjust prices,” PBGEA executive director Stephen Antig said.

The Foreign Trade Promoter (Procomer) reported that $7 million fewer bananas were exported to the Old Continent between January and March compared to the same period in 2021. The available figures for agricultural exports from Costa Rica during the first quarter of the year were affected by the armed conflict, with a drop of 1% compared to the same months of the previous year.

Dominican Today reports that the banana sector has been hit by rising costs and falling prices in international markets. According to the local press, the increase in freight, fertilizers, and supplies such as boxes is a high-cost factor. The report relays that the aggravating circumstance is that the destination markets refuse to assume these cost increases. The report notes that the Dominican Republic exports about 455 containers per week, more than 90% of organic bananas.

Fresh Del Monte Produce declared a quarterly dividend on Tuesday, May 3rd. On Wednesday, May 18th, investors of record will be paid a dividend of 0.15 per share on Friday, June 10th. This represents a $0.60 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Tuesday, May 17th. Fresh Del Monte Produce has decreased its dividend by an average of 5.9% per year over the last three years and has raised its dividend every year over the previous years. Fresh Del Monte Produce has a payout ratio of 30.6%, meaning its dividend is sufficiently covered by earnings.

Giving you the best ability to manage your supply chain is of the utmost importance to us, and as your integrated logistics partner, our aim is to ensure that you have the necessary information to better plan your logistical network. In line with this we would like to inform you about the latest developments in Russia. Earlier we have communicated A.P. Moller - Maersk would cease all our operations in Russia and Belarus. Maersk has now stopped all vessel operations in Russia and service with Belarus.

Bolivian banana producers in Cochabamba are in an emergency. According to press reports, the export of the fruit to Argentina fell by 70 per cent, and its price fell by more than 50 per cent due to the incursion of Ecuadorian fruit into the Argentinian market. In addition, there are restrictions from the Argentinian Government to prevent the departure of dollars from their country. In March, the Central Bank of Argentine (BCRA) established quite restrictive criteria for the release of dollars, according to the companies, but which guarantees, according to the official view, that imports are not used for over-storage.

On April 23, the first stone was laid to construct the maritime terminal in the Gulf of Urabá. Construction is estimated to be completed by 2025. The port has projected an investment plan of nearly US$400 million for the construction of a pier with five berthing positions and a double lane viaduct for the traffic of trucks between the platform and the port on land, which will allow the fluidity of up to eight tractor-trailers. The concession will last for 30 years, and the port terminal will be designed to serve container ships of up to 366 meters in length and 14,000 cargo containers, with a depth of 14.5 meters.

A.P. Møller - Mærsk A/S (APMM) has realized a financial performance for the first quarter of 2022 ahead of previous expectations with a revenue of USD 19.3bn, an underlying EBITDA of USD 9.2bn and an underlying EBIT of USD 7.9bn. The strong result is driven by the continuation of the exceptional market situation within Ocean, which has led to a 7% decline in volumes and an average 71% increase in freight rates compared to Q1 2021.

Three months have passed since the Cumbre Vieja volcano went dormant, and now it's time to recover what was lost. That is why it is essential to remember La Palma and the more than 500 families that depend on the cultivation of bananas in the Canary Islands. An activity that depends on legal measures to recover the sector generates more than 10,000 jobs throughout the island. Without cultivation, there is no work, and the lava damaged some areas of fertile ground.

The Government of Ecuador described as successful the meeting held in Berlin (Germany) between Latin American banana producers and European buyers, who insisted that they comply with the commitments of shared responsibility. Pedro Alava, Minister of Agriculture of Ecuador, the world's leading banana exporter, stated this last January called together the region's Ministers of Agriculture to demand respect for the price of the fruit.

There is a distinct feeling of déjà vu about the current lockdowns in China, with spot rates declining as carriers scramble for export cargo from shuttered manufacturing. But rates could spike again when the flood gates reopen for the delayed orders. "It's almost like a traffic jam," said Container xChange CEO and cofounder Christian Roeloffs. "Some people have now stepped on the brakes heavily, which will lead to a significant build-up in demand for freight services, which will be unleashed once the factories reopen.

Dole has reported higher profits and earnings for 2021 after a transformational year for the company. Dole said its revenues for the year to the end of December jumped by 48.5% to $6.5 billion compared to 2020, while adjusted EBITDA increased by 15.3% to $290.1m Last July, Total Produce acquired the remaining 55% of Dole Food Company to create Dole plc. Following the deal, Dole said it had increased significantly in scale, and geographical footprint and Dole said its total assets increased by 147.5% to $4.7 billion.

Performance Team, a Maersk company, announced Monday it is building a 283,000-square-foot cold storage logistics facility in Baytown, Texas, about 26 miles east of Houston. According to a brochure from the Performance Team, the facility will feature a 90-foot temperature-controlled loading dock, the largest in the logistics industry. “Cold chain demand in the U.S. Gulf continues strong and we see a strategic opportunity to expand capacity and introduce a more integrated supply chain to make it easier for exporters and importers,” Diogo Lobo, regional head of cold chain for Maersk North America, said in a statement.

The International Atomic Energy Agency (IAEA) has trained scientists from six Latin American countries to use nuclear and related techniques to detect and contain TR4. The training included the development of genetic disease resistance in bananas. One of the most devastating banana diseases globally, the Fusarium TR4 wilt, spreads rapidly. In response to an urgent request from affected countries, Director General Rafael Mariano Grossi pledged that the IAEA would provide immediate assistance in combating the disease and preventing it from causing further damage, working together with the Food and Agriculture Organization of the United Nations (FAO).