A.P. Moeller Expects Good 2001 Results

Thursday, March 29, 2001
A.P.Moeller, Denmark`s biggest private enterprise and owner of container line Maersk Sealand, expects higher 2001 earnings from its shipping activities as well as its oil and gas operations in the Danish part of the North Sea. "Reduced growth in the U.S. economy affects developments in container markets negatively. The result for the container activities, however, is expected to be higher than that of 2000, which was affected by the Sea-Land implementation," A.P. Moeller said in its financial statement. The group expects production of oil and gas in the North Sea to be approximately the same as in 2000. "But the result is expected to be better, partly due to lower depreciation costs," it said. The company reported 2000 shipping pre-tax profit of 4.37 billion crowns ($519 million) with oil and gas pre-tax profits at 4.27 billion crowns. The 2001 result for associated and other companies in the group was seen at the same level as in 2000, A.P. Moeller said. - (Reuters)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Winners of International Seafarers' Welfare Awards

The winners of ISWAN's International Seafarers' Welfare Awards 2016 were announced on 24th June at a high-profile ceremony held in Manila, the Philippines. The

Traffic Separation Schemes off Western Australia

On 1 December 2016 two new Traffic Separation Schemes (TSS) will come into effect off the south-west coast of Western Australia. Australia’s proposal to establish

Berthing Policy for Dry Bulk Cargo for Indian Ports Unveiled

Ministry of Shipping has formulated a new Berthing Policy for Dry Bulk Cargo for all Major Ports which will come into effect from 20th August, 2016. The objective

Finance

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

World Stocks Tumble as Britain Votes for EU Exit

Global capital markets reeled on Friday after Britain voted to leave the European Union, with $2 trillion in value wiped from equity bourses worldwide, while money

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Salvage Ship Electronics Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0627 sec (16 req/sec)