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Nils S Andersen News

14 Nov 2017

Former Maersk Boss Named Unifeeder Chairman

Nils Smedegaard Andersen (File photo: Danish Maritime Days)

Nils Smedegaard Andersen has been appointed Chairman of the Board of Directors of Denmark based feeder and shortsea operator Unifeeder, taking up his first directorship within the logistics and shipping industry after stepping down from his position as Group Chief Executive Officer of A.P. Moller - Maersk A/S in 2016. Andersen, who is a board member and strategic adviser to Unifeeder’s largest investor, e.g. Nordic Capital Funds, also serves as Non-Executive Director at BP plc…

02 Nov 2016

Nils Andersen to Join the BP Board

The board of BP plc announced that it has appointed Nils Smedegaard Andersen as a Non-Executive Director with immediate effect; as well as serving on the Board he will join the Audit Committee. Andersen was Group Chief Executive of A.P. Møller - Mærsk A/S until 2016 and had previously been President and Chief Executive Officer of Carlsberg A/S and Carlsberg Breweries A/S. Carl-Henric Svanberg, Chairman of BP, said: “I am delighted to welcome Nils Anderson to the BP Board. Nils brings broad experience from the energy, shipping and consumer goods industries. Nils S. Andersen, 58, was Group Chief Executive of A.P. Møller - Mærsk from 2007 to June 2016.

06 Jul 2016

New Maersk CEO Soren Skou Mulls Revenue Growth

New AP Moller-Maersk chief executive Soren Skou is aiming for revenue growth according to an interview with the Financial Times. He reveals the task ahead after succeeding Nils Andersen. Danish conglomerate boss said that the group was buffeted by short-term “headwinds” in all of its businesses — from the world’s largest container shipping line to oil production and drilling rigs. “In the long term, we are challenged on top-line growth. Obviously, for us it’s important that we have a group that is both profitable but also has a growth path … If you have a business that isn’t growing the top line, it’s very hard to deliver attractive returns to shareholders,” said  Skou, who is also head of Maersk Line, the group’s container shipping unit.

23 Jun 2016

Maersk's New CEO Appointment Raises Prospect of Break-up

Soren Skou (Photo: Maersk Line)

Danish shipping and oil group A. P. Moller-Maersk could split up into separate companies, its chairman said on Thursday after naming Soren Skou, the head of its container business, as chief executive. Maersk shares rose more than 10 percent on the news with investors betting on a break-up and seeing the appointment as a sign of a more profound restructuring. "The question is whether we should be a large group, or whether we should be a number of independent companies," Chairman Michael Pram Rasmussen told Danish online media Finans.

23 Jun 2016

Maersk Chairman: Company Could Be Split Up

Michael Pram Rasmussen (Photo: A. P. Moller-Maersk)

A. P. Moller-Maersk's chairman says that the Danish shipping and oil conglomerate could be split up in several companies, after it on Thursday appointed the head of its container business as new chief executive. "The question is whether we should be a large group, or whether we should be a number of independent companies," Michael Pram Rasmussen told Danish online media Finans. "It is a possibility for us, but it is not something you just do. It would be a huge task," he said.

23 Jun 2016

Skou Replaces Andersen as Maersk CEO

Danish shipping and oil company A. P. Moller-Maersk has appointed Soren Skou, head of its container shipping unit Maersk Line, as new chief executive for the group replacing Nils Smedegaard Andersen who has been in the job since 2007. Soren Skou will remain as CEO of Maersk Line in addition to his position as CEO for the Maersk Group. Andersen will leave the group, Maersk said in a statement. "The Board of Directors has tasked the new management to investigate the strategic and structural options to further increase agility and synergies," it said. Reporting by Teis Jensen

21 Jun 2016

Maersk Fights to Stay on top as Containership Downturn Deepens

Maersk Mc_Kinney Moller (Photo courtesy Maersk)

Denmark's Maersk Line is fighting to remain the world's no.1 container shipping carrier as a wave of mergers and acquisitions, particularly in Asia, creates new challengers trying to grab a bigger share of a depressed market. Maersk itself hasn't made a major acquisition for more than a decade but says it might be open to "the right opportunity", although doubters believe such deals risk accumulating ships without securing enough customers. A unit of oil and shipping group A.P. Moller-Maersk , the line has a 15 percent share of the overall container market.

13 Jun 2016

Maersk Heir Takes Top Post in Holding Company

Robert Uggla (Photo: Maersk Group)

The grandson of Maersk Mc-Kinney Moller, who transformed A.P. Moller-Maersk into an international conglomerate, was on Monday appointed chief executive of the holding company behind the Danish shipping giant. The move sends a signal that the Maersk family will remain an active owner of the listed company, but it also distances the heir from daily operations, analysts said. Robert Maersk Uggla, 38, who has been CEO of Maersk-owned tug boat operator Svitzer since 2012, will take on the position as CEO of A.P. Moller Holding on Sept. 1., the company said. "Given the development of A.P.

10 May 2016

Maersk CEO: Negative Rates Hurting Shipping

Negative interest rates are hurting  shipping industry by delaying the consolidation wave so badly needed, Bloomberg reports quoting Nils Smedegaard Andersen, chief executive officer of AP Moeller-Maersk. He said that the monetary policy environment "means consolidation will be much slower because it's easy for banks to keep weak shipping companies above water". It’s the latest example of how negative interest rates are distorting markets and potentially even slowing growth. The policy has so far had limited success in reviving inflation while money managers in countries with negative rates are warning of the risk of asset price bubbles. With the unintended consequences potentially including a slower global shipping recovery, questions as to the policy’s efficacy are bound to persist.

04 May 2016

Maersk Mulls Acquisitions after Surprising Profit

Fragmented sector chasing alliances to cut costs; Maersk has plenty of cash for deals - CEO. A.P. Moller-Maersk returned to profit at its main container shipping business in the first quarter, putting the cash rich company in a strong position as the struggling industry consolidates. The group's shares were up by 5.6 percent at 1127 GMT on Wednesday after Maersk Line confounded expectations of a loss at the container shipping business as the sector grapples with a downturn brought on by overcapacity. Rates for shipping containers transporting anything from flat-screen TVs to sportswear have been at a loss-making level for more than a year, denting profits and opening the highly fragmented sector to consolidation in an effort to cut costs and build scale.

04 May 2016

Maersk Profit Plunges

Danish shipping and offshore energy conglomerate Maersk Group reported its profit at US$ 224 million for the first quarter of 2016, a drop of 86 percent compared to $ 1.6 billion seen in the same period a year earlier. Hit by low oil prices and freight rates, the world's largest shipping company AP Moller-Maersk A/S says revenue fell almost 20 percent from a year earlier to $8.5 billion. Maersk Line, the world’s largest container operator by capacity and traditionally the company’s biggest earner, posted first-quarter underlying earnings of $32 million, having contributed $710 million in the year-earlier quarter. Maersk Line said it…

14 Mar 2016

Maersk to Boost Investments in Ghana

Maersk Group says it is committed to a long-term partnership with Ghana, and will boost its investments in the country. Accroding to local media report, the Maersk Group Chief Executive Officer, Nils S. Andersen, revealed that Maersk is interested in playing an active role in Ghana’s growth through investments in trade, infrastructure and energy. “Together with our partners, we have committed $1.5billion to the expansion of the port in Tema which would create probably the largest and most modern terminal in sub Saharan Africa. This will enable Ghana’s trade for the coming decades, and support more efficient flows of exports as well as imports” Andersen said. Nils S.

23 Feb 2016

Qatargas, Maersk, Shell in LNG Marine Fuel Partnership

Three heavy weights have come together in the Middle East to promote LNG as marine fuel in the region - Qatargas, the Maersk Group and Royal Dutch Shell Plc signing a memorandum of understanding to explore future opportunities. All three have pledged to look at ways to develop new markets for using LNG as propulsion fuel. The MOU envisages Qatargas 4, a joint venture between Qatar Petroleum and Shell, to begin supplying Maersk’s merchant fleet with LNG fuel “before the end of the current decade”, Qatargas, the world’s largest LNG producer, said in a statement. “The MoU envisages LNG supplies for this pioneering initiative to be made available from Qatargas 4…

22 Feb 2016

Qatar, Maersk and Shell in LNG Marine Fuel MoU

Qatar and Royal Dutch Shell have agreed to develop liquefied natural gas (LNG) as a marine fuel for use by the world's largest container shipping company, A.P. Moller-Maersk, Qatargas said in a statement on Monday. Qatargas, the world's largest LNG producer, said the three companies signed a memorandum of understanding which sees Qatargas 4, a joint venture between Qatar Petroleum and Shell, producing the fuel for use by Maersk Line. Most shipping companies currently use heavy fuel oil, or bunker fuel, to propel their vessels although LNG as marine fuel has been used by some ships in the past decade. DNV GL, an international energy and shipping certification agency…

11 Feb 2016

Maersk Falls into the Red

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 0.925 billion USD, representing a decrease of 84% yoy. The company revenues decreased with 16% yoy to 40.3 billion USD. The profit decrease appears in almost all sectors of the company, but the worst for 2015 definitely was the oil and offshore. "After a satisfactory result in the first half of the year with a ROIC of 10.2%, Maersk Group was severely impacted by a widening supply-demand gap across most of our businesses, leading to significant oil price and freight rate reductions," says a statement from the company.

11 Feb 2016

Maersk Line to Face Miserable 2016

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. He has warned that conditions for global trade are even worse than they were during the height of the 2008 financial crisis. Maersk’s outlook for its container line this year is a result “significantly below” 2015, based on weak global growth forecasts of between 1% and 3%. Andersen said his company was facing conditions significantly worse than the financial crisis after it plunged to a large net loss as global trade growth ground to a halt last year.

10 Feb 2016

Maersk CEO Looks to Increase Market Share

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. We hope some competitors will order fewer new vessels," Chief Executive Nils Smedegaard Andersen told a teleconference. Andersen said the low oil price is the biggest short-term challenge for the group. Reporting by Ole Mikkelsen

10 Feb 2016

Maersk Writes Down Oil Assets

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. Maersk warned investors on Wednesday that it expects its underlying net result in 2016 to be significantly below 2015's $3.1 billion as it struggles with plummeting oil prices and low rates for container freight. Its shares fell as much as 9 percent in early trading and were down 4.4 percent by 0855 GMT. Chief Executive Nils Smedegaard Andersen said the oil price was the biggest short-term challenge for the company.

10 Feb 2016

Maersk Profit Down 82%

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. After a satisfactory result in the first half of the year with a ROIC of 10.2%, Maersk Group was severely impacted by a widening supply-demand gap across most of our businesses, leading to significant oil price and freight rate reductions. ROIC for the second half of the year was negative 6.3%, impacted by impairments of USD 2.5bn after tax in Maersk Oil and for Q4 there was an underlying loss of USD 9m (profit of USD 1.0bn).

22 Jan 2016

Container Volumes to Improve 2016: Maersk

Nils Smedegaard Andersen chief executive officer of A.P. Moeller-Maersk A/S said the Container volumes have picked up this year after the market suffered from sluggish growth and overcapacity in 2015, reports Bloomberg. He said 2016 beginning looked a little bit better and expected the Asia to Europe business to develop better this year. Maersk’s container line, the world’s largest, suffered last year from a toxic cocktail of too many vessels just as global trade sagged. While the industry still needs to address overcapacity, the demand side looks better, Andersen said. In 2015, Nils Andersen was expecting another year of about 3% to 4% demand growth. Instead, it came in at 1.

17 Dec 2015

Maersk Joins WTO’s Global Alliance for Trade Facilitation

The new alliance was announced at the 10th WTO Ministerial Conference in Nairobi, Kenya and consists of governments, international companies such as Maersk Group, DHL and Wal-Mart, and the International Chamber of Commerce and the World Economic Forum. The objective of the Global Alliance for Trade is to accelerate trade facilitation reforms by supporting swift and wide implementation of the WTO Trade Facilitation Agreement (TFA). Today, customs processes can involve large amounts of documentation that typically are not digitalised. This and lack of coordination between private and government actors adds unnecessary waiting time and delays to traded goods, resulting in added inventory costs and the risks of penalties for importers and exporters.

09 Nov 2015

Nils Andersen, CEO Maersk: “Global Growth Slowing Down”

Nils Smedegaard Andersen, chief executive officer at A.P. Moeller-Maersk qoted by Bloomberg as saying: "We believe that global growth is slowing down. The world's biggest shipping line conducts a string of its own macro-economic forecasts and it sees less growth - particularly in developing nations, but perhaps also in Europe - than other people expect in 2015, Andersen said. His company is a bellwether for global trade, handling about 15 percent of all consumer goods transported by sea. According to Andersen, the current operating environment is characterized by slow growth, but the real concern to be taken into account should be the overcapacity in the shipping market and slower than expected market growth.

06 Nov 2015

Maersk Will Invest to Retain Market Share

A.P. Moller-Maersk will continue to invest in its shipping unit to retain its leading market share in the industry, which has experienced a prolonged slump, Chief Executive Nils Smedegaard Andersen said on Friday. Andersen referred to Maersk's decision, announced earlier this week, that it would not take order options on six of its flagship mega-vessels. "There's absolutely no drama on this -- when you take options it's because you want to be flexible. We will continue to invest to retain our market share," Andersen told analysts during a conference call. Reporting by Sabina Zawadzki