MAERSK LINE LTD
Maersk Line, part of the Danish group A.P. Moller - Maersk, will provide free ocean freight for 147 containers (3,525 metric tons) of rice donated by the Government of Thailand to Haiti through the World Food Program. The rice will be split and shipped across four sailings, from Laem Chabang, Thailand to Caucedo, Dominican Republic, before being trucked into Haiti. The first shipment set sail on 15 March 2010, on Maersk Line vessel Maersk Kendal, and is expected to arrive six weeks later towards the end of April. Thomas L. Sorensen, Managing Director of the Maersk Line (Thailand) Co., Ltd, shares, “Maersk Line has a long history of providing disaster relief aid and is pleased to be able to continue in our efforts and support the World Food Programme. Shipping transportation plays an important role in getting aid to Haiti, being an island country. With a large global network and ready vessels, Maersk Line is more than able to handle the logistics involved with the shipment of Thai rice.” “It is also one of Maersk Line’s key business values is to contribute towards the societies we work in and we hope our assistance will help Haiti, as its people work to rebuild their communities”, he continued. In addition to the shipment of rice donated by the Government of Thailand, Maersk Line has shipped 100 containers of aid to Haiti from Venice, Italy
NOAA Administrator Jane Lubchenco recently appointed nine new members to the Hydrographic Services Review Panel, a federal advisory committee that gives NOAA independent advice for improving ocean and coastal navigation products, information, data and services. “Optimizing the benefits of navigation services and products is a priority for the agency,” said Margaret Spring, chief of staff for NOAA and the agency’s representative to the Committee on the Marine
Starting next year, the price to ship a container across the Atlantic ocean is to soar, as container shipping lines on the Atlantic will be seeking hefty rate increases s next year. Rates for 20 foot containers heading westbound to U.S. Atlantic, Gulf and Pacific ports would rise by $600 from January 1, 2000, carriers in the Trans-Atlantic Conference Agreement (TACA) said. For 40 and 45 ft units the increase would be $750, they said
Odfjell SE’s Extraordinary General Meeting, held December 9, 2015, supported the Nomination Committee's proposal and elected Klaus Nyborg as new director of the Board. Nyborg, a Danish citizen, owns no shares in Odfjell SE and has no formal ties to major shareholders of the company, according to Odfjell. Nyborg was recently Interim CEO of DS Norden AS from 2014-2015, where he has also been on the board since 2012, and chairman since 2015
New Maersk Line procurement policy for container floorboards aims to reduce demand for illegally logged tropical hardwood Today, Maersk Line announced a new policy to refrain from purchasing containers with floors made of uncertified tropical hardwood. “Illegal logging is widely recognised as a serious threat to forests, people and wildlife. We feel obligated to use our purchasing power to push for higher standards and ensure that the timber we use for container floors come from
Shares rise 5 pct after improved guidance, better quarter than expected. Maersk indicates more buybacks after first in its history. Efficiency, cost savings boost Maersk Line compared to rivals. Denmark's A.P. Moller-Maersk announced the first share buy-back in its 110-year history on Tuesday as an overhaul of the sprawling shipping and oil empire leaves it with more cash than it can usefully invest. Maersk shares jumped 5 percent after the company reported better than expected quarterly
A new research report confirms the Asia-Europe product 'Daily Maersk' continues to lead competitors in reliabiltiy ratings The report, a joint effort between ecommerce network provider INTTRA and container shipping analyst SeaIntel, examined the performance of the top 20 container lines in schedule reliability. In the past year, Maersk Line has been the No.1 carrier in eight of the months and No.2 for four. The report also highlights, among others
Maersk Line’s newest vessel, the first of the Triple-E series, was named this morning in a ceremony at the Daewoo Shipbuilding & Marine Engineering (DSME) shipyard in Okpo, South Korea. It bears the name of the late Mærsk Mc-Kinney Møller, who passed away in April 2012 at the age of 98. Maersk Line CEO, Søren Skou, began the ceremony by welcoming all the special guests and recounting the important tradition of naming ceremonies in Maersk ever since the first
Maersk Line has reported a profit of $2.3bn for 2014 a 50% increase over the previous year, and expects a higher result in 2015, though the shipping rates remain under pressure. But 2015 is expected to yield less impressive results due to falling oil prices. The Chief Executive Officer Nils Smedegaard Andersen says shipping rates remain under pressure but maintains the business is "doing very well at the moment."
Maersk Line signed a contract with 's Daewoo Shipbuilding & Marine Engineering Co., Ltd. to build 10 of what the company terms as the world's largest and most efficient vessels, with an option for an additional 20 vessels. Scheduled for delivery between 2013 and 2015, they will entirely change the shipping industry's understanding of size and efficiency. Called the 'Triple-E' class for the three main purposes behind their creation -- Economy of scale
Maersk Line said on Friday it had chosen four shipbreaking yards along India's Alang beaches to handle an increase in vessels that need to be scrapped, to the dismay of some organisations that say the operations there are polluting and unsafe.
Maersk Drilling delivered the best result ever with a profit of USD 751m (USD 478m) in 2015 generating a ROIC of 9.3% (7.1%). The result was positively impacted by continued strong operational performance, fleet growth and general cost savings
Maersk Line posted a steep decline in profit last year to $1.3bn, well down from the 2014 result of $2.3bn and below its most recent forecast as freight rate declines accelerated in the latter stages of 2015. The net profit of Maersk Group in 2015 amounted to 0
In a video interview Group CEO of AP Møller-Maersk Nils S. Andersen comments on the 2015 full year result, low oil and freight rates, and the challenges and opportunities for the Maersk Group in these difficult markets.
Fifteen container liner shipping companies "have offered to change their pricing practices to settle an EU antitrust probe and stave off possible fines," according to a report from Reuters Wednesday that cites two unnamed sources.
A.P. Moller-Maersk's chief executive said its container shipping arm Maersk Line probably gained market share in the second half of 2015 after losing some in the first half of the year. "We want to increase Maersk Line's market share
Writedown pushes company into red in fourth quarter; 2016 profit to fall short of previous year. Denmark's A.P. Moller-Maersk tumbled to a loss of $2.5 billion in the last three months of 2015 after the shipping and energy group wrote down the value of its oil assets by the same amount.
Companies offer to announce actual prices, not future plans. Shipping container groups Maersk, MSC and 13 other companies have offered to change their pricing practices to settle an EU antitrust probe and stave off possible fines, two people familiar with the matter said on Wednesday.
Danish shipping and energy conglomerate Maersk Group delivered a profit of USD 925m for the full year ending December 31st 2015, against USD 5.2bn reported in 2014, a drop of 82%. Maersk’s underlying profit for full year was USD 3.1bn down from previous year's being USD 4.5bn.
Leading marine service provider, Marine and Towage Services Group Ltd. (MTS) has supported shipbuilder Damen during sea trials of its latest offshore cabling vessel, Maersk Connector. During the two-week testing period, MTS Vigilant, a Damen Shoalbuster
The newly-formed shipping giant China Cosco Shipping Corporation and CMA CGM met recently in Shanghai to discuss the possibility of a new French-Asian alliance, say local Chinese media. According to sources, the alliance would also include Orient Overseas Container Line (OOCL)
Mitsui O.S.K. Lines (MOL, President & CEO: Junichiro Ikeda) today announced the enhancement of its Asia and East Coast South America trade by merging existing CSW and SW2 services to form a new CSW service. The existing CSW and SW2 services, which are operated jointly by MOL
The crew of a Singapore-registered container vessel, Safmarine Kuramo, hijacked off the Nigerian Coast earlier this week, were released unharmed on Saturday (Feb 6) following efforts by Nigerian authorities. All 25 crew members on board, comprising nationals from India, South Africa
The merger between China Shipping group and the Cosco Group has given rise to a mammoth company that could trigger stability and extended consolidation in the global shipping industry, says a report in the WSJ. The merger will free the two Chinese shipping groups from competing
New Damen-built vessel for Maersk Supply Service to undertake long-term charter with DeepOcean A newbuild DP2 cable installation vessel, Maersk Connector, was handed over from Damen Shipyards Group to Maersk Supply Service on February 4, 2016