News Drives A.P. Moeller Shares Down

Monday, January 22, 2001
Shares in A.P. Moeller dropped three percent after news reports container traffic growth was slowing due to the weaker U.S. economy. At 1005 GMT Moeller's two shares, D/S 1912 and D/S Svendborg, traded at 81,000 crowns ($10,097) and 108,000 crowns respectively, down 3.0 and 2.7 percent compared to closing prices on Friday. Container traffic and freight rates may tumble this year compared to 2000, denting Moeller's profits. Analysts told Borsen that Moeller was poised to lose five billions crowns in revenue this year compared to 2000, primarily due to lower rates for Pacific traffic. "We might well return to a normal growth scenario in 2001 and not see two-digit growth rates as we did last year. This is a correction following an unusually strong 2000," Maersk Sealand deputy director Jesper Kjaerdegaard told Oekonomisk Ugebrev, referring to container growth in Pacific routes. The A.P. Moeller group includes the world's biggest container line Maersk Sealand. - (Reuters)
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Seadrill Bondholders: Majority Accept Conversion Offer

Seadrill Limited says that holders of approximately US$547 million of Seadrill's convertible bonds due 2017 (representing approx. 84.1% of the total outstanding

General Dynamics Reports 2Q 2014 Earnings

General Dynamics today reported 2014 second-quarter earnings from continuing operations of $646 million, or $1.88 per share on a diluted basis, compared to second-quarter

Trading Dutch Well Placed to Pursue Russia Sanctions

The seafaring Netherlands prides itself on being a trading nation, reluctant to let politics get in the way of a good deal. But since the downing, allegedly

Environmental

Maritime NZ Oil Spill Response Review: Submissions

Maritime New Zealand (MNZ) says it invites submissions on its draft updated New Zealand Marine Oil Spill Response Strategy 2014 (the draft Strategy). The draft Strategy, (available at http://bit.

Ecuador Order Elastec/American Marine Oil Spill Equipment

Elastec/American Marine say that quality and dependability made all the difference when the state oil company of Ecuador decided recently to purchase its oil spill response equipment.

Rosneft to Monitor Marine Fauna in Northern Sea Route

OAO NK Rosneft will conduct marine fauna monitoring in the Northern Sea Route in 2014. The studies will be organized by the Arctic Research Center, a joint venture of Rosneft and ExxonMobil.

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Offshore Oil Salvage Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1391 sec (7 req/sec)