Imerslund-Gräsbeck Syndrome (IGS) is an autosomal recessive disorder caused by mutations in the CUBN or AMN genes, resulting in defective intestinal absorption of vitamin B12 and impaired protein reabsorption in renal proximal tubules [1, 2]….
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Japan’s agricultural production boom yet to come | Nieuwsbericht
Japan is on the verge of a boom in agricultural production, according to Takeshi Sudo, project director at agribusiness consultant Agri Connect. Much like the Japanese economy in the sixties of the last century, Sudo believes the heyday of Japan’s agriculture is yet to come.
Sudo spoke at a seminar at the Farm Design & Development Forum, held at J Agri Week last October, where he laid down the recipe for successful agribusiness development: implementing cross-industry strategies and collaboration between local authorities. Sudo knows what he is talking about, having been formerly responsible for new business development at Fujitsu (2012-2022), in which role he helped establish new greenhouse businesses like Smart Agriculture Iwata (SAC Iwata) and Grand Bouquet Otaki (GBO).
Both are successful cases of collaboration between local authorities and external parties (investors) resulting in appealing business models. SAC Iwata is a 8,5 ha cluster of mid-to-high tech greenhouses, cultivating complementary crops, with shared research and shipping facilities. GBO is a cutting edge orchid cultivation facility invested in innovation in packaging and shipping. Sudo managed both business entities on behalf of Fujitsu before they were sold on to the next investors. SAC Iwata is now part of Daiwa Food & Agriculture, and GBO of Aucnet Group.
Clearly, such development is not yet happening all over Japan. When considering the promotion of new agribusiness in their areas, most local authorities tend to get hung up on the present situation, focusing on current farmers and crops, unable to look beyond the farming perspective. But Sudo is convinced local authorities eventually will sign up for a broader business development perspective in which farming is considered in conjunction with other activities. With over 120 agribusiness projects by local authorities currently in development, Sudo has reason to be optimistic. And he is ready to do his part for more.
At the seminar, Sudo lectured on the need for ‘design thinking’, calling on local officials to approach business development from the perspective of desirable business models and to seek out companies and organizations able to bring about the desired results for collaboration on an equal footing. He also pointed at the need for close collaboration between various levels of local authorities, given the divided responsibilities for budget and planning, as well as collaboration beyond local borders at the level of business operators linking production strengths from various regions.
In the Netherlands, we know all about successful agribusiness projects and clustering, as Sudo is well aware. In his presentation, Sudo referred to Agriport A7 as a good illustration of what is possible if companies’ needs take center stage in local business development. It would be great if our companies and knowledge institutes could offer support to this development in Japan as well, not merely by serving as a model, but by becoming active partners in collaborative projects.
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Maersk reports strong Q3 2025 results
Copenhagen, Denmark – A.P. Moller – Maersk A/S (OMX: MAERSK-B) delivered strong financial results in the third quarter of 2025, driven by operational improvements and proactive cost measures. The company achieved sequential growth across all business segments. Based on this, Maersk refines the full-year 2025 financial guidance.
Executive Summary
- Excellent Ocean performance with higher volumes and broadly stable loaded freight rates compared to Q2
- Record volumes and profitability in Terminals
- Continued margin improvement in Logistics & Services
- Distribution of cash to shareholders during the quarter was USD 578m, entirely from share buy-backs
- Maersk refines the full-year 2025 financial guidance by raising the lower end as per the table below.
- The expected global container market volume growth has also been revised to be around 4% (previously between 2% and 4%
- REVENUE: USD 14.2bn (USD 15.8bn in Q3 24), EBITDA: USD 2.7bn (USD 4.8bn), EBIT: USD 1.3bn (USD 3.3bn)
We have delivered a strong third quarter across our business. Our performance reflects our ability to execute and continuously improve, as well as the trust customers place in us. The new East-West network has strengthened our Ocean performance, delivering industry-leading reliability, higher volumes and lower costs. Terminals achieved another record quarter with strong volume growth, and Logistics & Services continued to enhance profitability. As market conditions fluctuate, we are well positioned to help our customers adapt and maintain stability across their supply chains.Segment Performance
Ocean
- The Gemini Cooperation enabled significant cost savings and supported 7% loaded volumes growth year-on-year; freight rates were broadly stable quarter-on-quarter
- EBIT: USD 567m, up from USD 229m in the previous quarter. Was USD 2.8bn in Q3 24
Logistics & Services
- Profitability improved further to 5.5% (up from 4.8% in the previous quarter) driven by cost control and the performance in Fulfilled by Maersk, particularly in Warehousing
- EBIT: USD 218m, up from USD 175m in the previous quarter. Was USD 200m in Q3 24
Terminals
- Momentum continued with record-high volumes, revenue, EBITDA, and EBIT; Volumes grew 8.7% driven by strong demand across Americas, Europe, and Africa; high utilisation at 89% with some terminals nearing their full potential
- EBIT: USD 571m, up from USD 461m in the previous quarter. Was USD 338m in Q3 24
Financial Guidance
Maersk refines the full-year 2025 financial guidance by raising the lower end as per the table below. The expected global container market volume growth has also been revised to be around 4% (previously between 2% and 4%). The Red Sea disruption is expected to last for the full year.
Guidance 2025
EBITDA Underlying
(6 February: 6.0-9.0)
(7 August: 8.0-9.5)
EBIT Underlying
(6 February: 0.0-3.0)
(7 August: 2.0-3.5)
Free cash flow or higher
(6 February: -3.0 or higher)
(7 August: -1.0 or higher)
CAPEX 2024-2025
(6 February: 10.0-11.0)
(7 August: Unchanged)
CAPEX 2025-2026
(Unchanged)
Guidance 2025
USDbn
EBITDA Underlying
(6 February: 6.0-9.0)
(7 August: 8.0-9.5)
9.0-9.5
EBIT Underlying
(6 February: 0.0-3.0)
(7 August: 2.0-3.5)
3.0-3.5
Free cash flow or higher
(6 February: -3.0 or higher)
(7 August: -1.0 or higher)
1.0
CAPEX 2024-2025
(6 February: 10.0-11.0)
(7 August: Unchanged)
~10.0
CAPEX 2025-2026
(Unchanged)
10.0-11.0
Highlights Q3
Revenue
USD million
2025
2024
USD million
Ocean
2025
9,177
2024
11,107
USD million
Logistics & Services
2025
3,983
2024
3,893
USD million
Terminals
2025
1,448
2024
1,183
USD million
Unallocated activities, eliminations, etc.
2025
-402
2024
-421
USD million
A.P. Moller – Maersk consolidated
2025
14,206
2024
15,762
EBITDA
USD million
2025
2024
USD million
Ocean
2025
1,787
2024
4,002
USD million
Logistics & Services
2025
468
2024
431
USD million
Terminals
2025
501
2024
424
USD million
Unallocated activities, eliminations, etc.
2025
-70
2024
-60
USD million
A.P. Moller – Maersk consolidated
2025
2,686
2024
4,797
EBIT
USD million
2025
2024
USD million
Ocean
2025
567
2024
2,834
USD million
Logistics & Services
2025
218
2024
200
USD million
Terminals
2025
571
2024
338
USD million
Unallocated activities, eliminations, etc.
2025
-72
2024
-63
USD million
A.P. Moller – Maersk consolidated
2025
1,284
2024
3,309
CAPEX
USD million
2025
2024
USD million
Ocean
2025
897
2024
561
USD million
Logistics & Services
2025
141
2024
211
USD million
Terminals
2025
154
2024
160
USD million
Unallocated activities, eliminations, etc.
2025
12
2024
9
USD million
A.P. Moller – Maersk consolidated
2025
1,204
2024
941
Sensitivity guidance
Financial performance for Maersk for 2025 depends on several factors subject to uncertainties related to the given uncertain macroeconomic conditions, bunker fuel prices and freight rates. All else being equal, the sensitivities for 2025 for four key assumptions are listed below:
Factors
Change
Effect on EBIT (Rest of 2025)
Factors
Container freight rate
Change
+/- 100 USD/FFE
Effect on EBIT (Rest of 2025)
+/- USD 0.3bn
Factors
Container freight volume
Change
+/- 100,000 FFE
Effect on EBIT (Rest of 2025)
+/- USD 0.01bn
Factors
Bunker price (net of expected BAF coverage)
Change
+/- 100 USD/tonne
Effect on EBIT (Rest of 2025)
+/- USD 0.1bn
Factors
Foreign exchange rate (net of hedges)
Change
+/- 10% change in USD
Effect on EBIT (Rest of 2025)
+/- USD 0.0bn
Full Q3 2025 financial report available here.
About Maersk
A.P. Moller – Maersk is an integrated logistics company working to connect and simplify its customers’ supply chains. As a global leader in logistics services, the company operates in more than 130 countries and employs around 100,000 people. Maersk is aiming to reach net zero GHG emissions by 2040 across the entire business with new technologies, new vessels, and reduced GHG emissions fuels*.
*Maersk defines “reduced GHG emissions fuels” as fuels with at least 65% reductions in GHG emissions on a lifecycle basis compared to fossil of 94 g CO2e/MJ.
For further information, please contact:
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Battlefield 6 Dev Explains How Bots Work Amid ‘Confusion’ in the Community
Battlefield lead producer David Sirland has taken to social media to clear the air about how Battlefield Studios uses bots in Battlefield 6 multiplayer to keep players engaged.
EA’s latest entry in the Battlefield series notoriously uses bots to…
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Angelina Jolie Backed Me On ‘Anxious People’ Set
Aimee Lou Wood has revealed how she has continued to find her voice after she called out the “mean and unfunny” Saturday Night Live impression.
In an interview with Harper’s Bazaar, The White Lotus and Sex Education star detailed an…
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No Recovery Yet for KLM Group in the Third Quarter
Marjan Rintel, CEO of KLM, commented: “Once again, we’ve carried more passengers, and our revenue has increased slightly. However, high costs and operational challenges continue to trouble us. Our ‘Back on Track’ programme is delivering results, but we still have a long way to go. We need to steer decisively and make clear choices to get KLM structurally back on track and ensure we can continue investing in our future.”
Third Quarter: Costs Weigh on Results
The KLM Group’s operating profit fell by 14% in the third quarter compared to the previous year. This decline is mainly attributable to rising costs, including higher airport charges and labour costs, as well as operational disruptions. The impact of strikes at KLM ground handling and cargo also weighed on the results.First Nine Months: Savings Insufficient to Offset Costs
Over the first nine months of 2025, KLM Group’s operating profit amounted to €339 million, a decrease of €26 million compared to the same period in 2024. Revenue rose by 4% to €9.9 billion, primarily due to a 4.4% increase in capacity. KLM’s ‘Back on Track’ programme contributed more than €300 million in savings and additional revenue during this period and is therefore on target. Furthermore, an agreement in principle was reached with the Dutch Airline Pilots Association (VNV), which will make more capacity available. However, all these measures remain insufficient to offset the persistently high costs.Bas Brouns, CFO KLM, added: “The improvement programme is working, with initiatives having been taken throughout the company. Among other things, we have successfully renegotiated contracts, been able to operate more flights and are using digital solutions more effectively. Without these improvements, our financial position would be significantly weaker. Nevertheless, we are still not earning enough to make the necessary investments in customers, people and operations to keep KLM competitive and future-proof. That is why we continue to actively seek additional improvements to strengthen our financial base.”
Business Units: Mixed Picture
Transavia saw its operating profit decline by €29 million in the first nine months, attributed to increasing competition and rising costs. Conversely, the Engineering & Maintenance division made a positive contribution of €41 million. Cargo managed a slight improvement in its results year-on-year, despite operational challenges and the introduction of a new handling system. This underscores the importance of a continued focus on profitable growth and operational stability across all parts of the KLM Group.n een voortdurende focus op winstgevende groei en operationele stabiliteit binnen alle onderdelen van de KLM Groep.';
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Phil Foden inspires Man City in the Champions League, Haaland sets latest benchmark
Foden’s omission from England’s four games this season have been a talking point, with players like Eberechi Eze, Marcus Rashford and Anthony Gordon all adding to the competition for places.
Despite being widely regarded as one of the most gifted…
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AI brain atlas brings microscopic detail to MRI scans • healthcare-in-europe.com
The foundation built into the atlas now enables rapid, accurate and accessible analysis of brain images in living individuals, opening the door to detecting the earliest signs of neurological diseases such as Alzheimer’s, long before symptoms…
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Going to the Dogs review – lovable canines at the heart of a sport in decline | Film
At one point in this documentary about greyhound racing, an interviewee describes it as a fundamentally working-class sport, and it’s hard to argue with that. And like so many British working-class pleasures and pursuits, shifting tastes and…
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Beasts of the Sea by Iida Turpeinen review – a hypnotic tale of the sea cow’s extinction | Fiction
In November 1741 Georg Wilhelm Steller, “theologian, naturalist, and curious man”, was shipwrecked on an island between Alaska and Russia. There he found, floating in the shallow waters, a vast sirenian, Hydrodamalis gigas, nine feet long and…
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