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Ap Moeller News

19 Sep 2022

Egypt to Cooperate with Maersk on Clean Bunker Fuels

© Val Traveller / Adobe Stock

Egypt's President Abdel Fattah al-Sisi has directed the government to cooperate with AP Moeller-Maersk to establish a network to produce and distribute green energy and clean fuels for ships, a presidency spokesperson said on Monday.Maersk Chief Executive Soren Skou discussed with Sisi during their meeting a project to produce clean fuel for ships with investments of $15 billion, the statement added.There were no immediate details on the mechanism of the cooperation.(Reuters - Reporting by Moataz Mohamed; Editing by Jan Harvey)

25 Aug 2022

Shipping Container Suppliers Abandon $987 Million Deal After US Probe

(Photo: A.P. Moller - Maersk)

Global shipping container suppliers China International Marine Containers and Maersk Container Industry in a joint statement on Thursday said they have abandoned a merger plan, citing significant regulatory challenges.China International Marine Containers (CIMC) in September had agreed to buy the Danish shipping company AP Moeller - Maersk's refrigerated containers maker for $987.3 million.The U.S.

29 Mar 2021

Giant Ship Blocking Suez Canal Partially Refloated

Credit: Suez Canal Authority

A massive container ship blocking Egypt's Suez Canal for nearly a week has been partially refloated, the Suez Canal Authority (SCA) said on Monday, raising hopes the busy waterway will soon be reopened for a huge backlog of ships.The 400-meter (430-yard) long Ever Given became jammed diagonally across a southern section of the canal in high winds early last Tuesday, halting shipping traffic on the shortest shipping route between Europe and Asia.After further dredging and excavation over the weekend…

28 Mar 2021

Diggers and Dredgers Struggle to Free Ship Blocking the Suez Canal

(Photo: Suez Canal Authority)

Suez Canal salvage teams intensified excavation and dredging on Sunday around a massive container ship blocking the busy waterway ahead of attempts to refloat it, with two sources saying work had been complicated by rock under the ship’s bow.Diggers were working to remove parts of the canal’s bank and expand dredging close to the ship’s bow to a depth of 18 meters, the Suez Canal Authority (SCA) said in a statement.There was no mention of new attempts to release the ship with tugs…

13 Jan 2021

Ocean 100: Profits from World's Seas Dominated by 100 Companies

© Ranimiro / Adobe Stock

Just 100 companies account for most of the profits from the world’s seas, researchers said on Wednesday, calling on them to help save the oceans from over-fishing, rising temperatures and pollution.Together, the companies generated $1.1 trillion in revenues in 2018, or about 60% of the total, according to a study that sets out for the first time which firms profit the most from marine industries.Oceans play a critical role in capturing planet-warming gases, absorbing around 25% of all carbon dioxide emissions.

24 Sep 2019

Maersk Upgrades its Digital Warehousing

A.P. Moeller – Maersk will extend its end-to-end container logistics services with JDA Software Inc.’s Warehouse Management solutions, further building its warehousing and distribution services.American software and consultancy company providing supply chain management said Maersk will gain support in its ambition to provide visibility throughout the supply chain to improve on-time performance, adapt to real-world disruptions and simplify its customers’ supply chains.Today Maersk Warehousing and Distribution provides its customers the advantages of an end-to-end delivery network and greater flexibility through a wide range of logistics solutions…

11 Jun 2019

Interview: Kjeld Aabo, Director New Technologies, MAN ES

Kjeld Aabo, Director New Technologies, MAN ES.

“I think it is very early to project what will be the fuel of the future. I think that it will be much more clear in January 2020 (when the new IMO fuel rules enter force) and we see the direction of fuel costs.”To start, put in perspective the current pressure to reduce emissions in the maritime industry.It all really started at the beginning of the 1990s when the world started discussing that something needed to be done on exhaust gas emissions from marine vessels. We stayed in contact with various regulatory authorities, as we tried to be a part of the conversation in the creation of rules.

22 Mar 2019

Teekay Joins SRTI

Teekay Shipping Corporation, the global marine energy transportation, storage & production company, has signed up to the Ship Recycling Transparency Initiative (SRTI).The Canadian shipowner thus  joined A.P. Moeller-Maersk, the China Navigation Company, Wallenius Wilhelmsen and other major maritime players and becomes the eighth to make public their approach to ship recycling.“Teekay is committed to helping the ship recycling facilities that we work with elevate their skills and performance to increase safety and sustainability,” said Kenneth Hvid, President and CEO, Teekay.“Our employees are on-the-ground throughout the recycling process to perform regular inspections and audits and provide training to staff and workers.

13 Feb 2019

Maersk Acquires Customs Broker Vandegrift

Danish shipping giant A.P. Moeller-Maersk A/S has acquired Vandegrift, a US-based customs house broker,  as the ocean container line pushes further into land-based logistics services and operations. This is the first acquisition of the year in the fast-growing logistics sector.“Vandegrift’s expertise and reputation enables us to place a trusted advisor in front of our customers to design and build individualized Customs Brokerage and Compliance programs that identify risk and provide solutions. This customer advocate role, coupled with our supply chain assets and global scale creates winning end-to-end solutions for companies intent on competing better in 2019,” said Narin Phol,  Regional Managing Director of Maersk North America.Price and terms were not disclosed.

10 Dec 2018

Ship Recycling Transparency Initiative Launched

Industry leaders and non-profit the Sustainable Shipping Initiative announced the launch of the Ship Recycling Transparency Initiative’s (SRTI) online platform - a tool for sharing information on ship recycling to drive responsible practice.According to a press release, the platform comes nine months after a group of shipping companies first announced their collective effort to use the market-drivers that transparency brings to make responsible ship recycling the norm. Demanding transparency holds the shipping industry to account, raising the bar for current practice as well as creating fair competition among ship-owners.In 2017, 835 ships were recycled out of a world fleet of 50,000.

13 Nov 2018

AP Moeller Maersk Q3 EBITDA seen up 12 pct; Analysts Weigh In

file Image: CREDIT Maersk

AP Moeller Maersk third-quarter results are due on Wednesday, November 14th. The Q3 operating profit is forecast to be $371 million.A poll of forecasts for the Danish shipping group is emerging. Of the eight analysts who disclosed their recommendation on the AP MOELLERMAERSK stock, one answered Positive, six Neutral and one Negative. The following brokerages and investment banks participated in the poll:Handelsbanken Capital: UnderweightSydbank: HoldEquita SIM: HoldDrewry: HoldClarksons…

29 Mar 2018

Containership Market Stays Strong

© Idanupong/AdobeStock

COSCO Shipping Holdings Co Ltd said it expects further growth in container shipping demand thanks to a continued recovery in global trade, after reporting it had swung to a net profit of $429.42 million for 2017. COSCO's optimism, which comes after Hong Kong peer Orient Overseas International Ltd (OOII) reported a profitable year, indicates that a recovery in the global container shipping industry could be here to stay. Shipping saw signs of improvement in 2017 after enduring its longest ever slump wrought by overcapacity and slow economic growth…

26 Feb 2018

EU Mergers and Acquisitions

© mybaitshop/Adobe Stock

The following are mergers under review by the European Commission that could be of interest to the global maritime and energy communities. -- Austrian company Borealis, Canada's Nova Chemicals and French oil and gas major Total to set up a joint venture (notified Feb. -- British turnaround specialist Melrose Industries to acquire British engineering company GKN (notified Feb. -- German steel company ELG Haniel and and Spanish peer Iberinox 88 SA to set up a joint venture (notified Feb.

13 Sep 2017

Shipbreaking NGOs Attack FPSO North Sea Producer

16 August of last year the FPSO North Sea Producer was beached in Chittagong, Bangladesh. The ship was allowed to leave the UK based on the false promise that it would be further operationally used in the Tin Can port in Nigeria. One year on, the battle to hold the owners and cash buyers accountable for the illegal export of the FPSO is not over. The North Sea Producer (ex Dagmar Maersk) was deployed in the McCulloch field in the North Sea, transporting and extracting oil from the UK continental shelf for 17 years, and was owned by the North Sea Production Company, a single-ship joint venture between the Danish A.P. Moeller Maersk and the Brazilian Odebrecht. Once the field closed, the FPSO North Sea Producer was laid up in Teesport for a year while the owners were looking for buyers.

30 Aug 2017

COSCO Books H1 Profit of $288 mln

China's COSCO Shipping Holdings Co Ltd reported a first-half profit on Wednesday and forecast that improved demand in the container shipping market would continue for the rest of the year. China's largest shipping group, which last month offered to buy a Hong Kong peer to become the world's third-largest container liner, said January-June net profit was 1.86 billion yuan ($288.32 million). That matched an estimate it announced in July, citing improved market conditions. It also booked revenues of 43.5 billion yuan for the period. COSCO Group booked a 7.2 billion yuan loss in the first half of last year before merging with China Shipping Group to create COSCO Shipping.

07 Feb 2017

Hyundai Merchant Sees More Losses

South Korea's largest deep sea carrier Hyundai Merchant Marine expects to post losses through the first half of next year due to poor market conditions, reports Bloomberg quoting its CEO Yoo Chang-keun. “This year will be the year to strengthen our financials,” Yoo told Bloomberg. “We are targeting to make an operating profit in the third quarter of next year. By early next year, we expect much of the overcapacity in the market will be resolved. Yoo says that HMM is also making investments in overseas port operations, like TTI / MSC's facilities in Long Beach and a container terminal in Algeciras, Spain (Both terminals are former Hanjin assets), so as to offset the underperformance of its core shipping business.

01 Dec 2016

Oetker Sells Hamburg Süd to Maersk

Dr. August Oetker KG announces that, after more than 80 years, it is divesting its shipping business and will be selling Hamburg Süd with all activities, subsidiaries and principal assets. The world's seventh-biggest container operator, Hamburg Süd, has been sold to Danish conglomerate AP Moeller-Maersk. Maersk Line didn't disclose the purchase price of Hamburg Süd when it announced the takeover on Thursday, saying it hoped to complete the deal by the end of 2017. According to WSJ, Maersk Line agreed to pay roughly $4 billion, according to people familiar with the discussions, making it one of the biggest deals for a container operator. The acquisition will boost Maersk's presence on North-South shipping routes.

07 Nov 2016

Cargo Owners in Flight to Safety after Hanjin Collapse

Evergreen Marine says has assured large U.S. customers, while Maersk Line says "strongly hopes" M&A will continue. Cargo owners are becoming more concerned about risks and are shifting their business to shipping lines deemed more financially stable after the collapse of South Korea's Hanjin Shipping Co Ltd, top shipping executives said. Robbert van Trooijen, Asia Pacific chief executive of AP Moeller-Maersk's container shipping arm, said the company was seeing a "flight to safe havens" after the August collapse of Hanjin left $14 billion of cargo stranded at sea. "We've seen that the debate around the viability of the supplier is a more important element in the contracting decision... A lot of customers are looking at the more stable shipping lines to contract their cargo with," he said.

07 Nov 2016

Hanjin Collapse: Cargo Owners Look for Saftey

Cargo owners are becoming more concerned about risks and are shifting their business to shipping lines deemed more financially stable after the collapse of South Korea's Hanjin Shipping Co Ltd, Reuters reported quoting top shipping executives. Robbert van Trooijen, Asia Pacific chief executive of AP Moeller-Maersk's container shipping arm, said the company was seeing a "flight to safe havens" after the August collapse of Hanjin left $14 billion of cargo stranded at sea. Maersk's comments were echoed by Taiwanese rival Evergreen Marine Corp which also told Reuters last week it had recently provided relevant information to large U.S. companies to assure them of its financial health. "They are making additional efforts to check shipping firms' financial status.

03 Oct 2016

Maersk Mulls Quick Acquisitions

Danish shipping giant A.P. Moeller-Maersk A/S’s container altered its strategy this month by planning to expand its fleet through acquisition, breaking from its previous preference of building its own boats, reports Forbes. Though, container line, which this month ditched a strategy of building new vessels and will instead try to grow through acquisitions, is targeting South Korea’s two biggest shipping firms, Bloomber quoted as Jefferies International Ltd, saying. Maersk Line’s new focus will be on “gaining market share organically” under the new strategic plan unveiled by the Maersk Group on September 22, while keeping its options open in regards to potential opportunistic acquisitions, according to Alphaliner.

22 Sep 2016

Maersk to Split Into Two Divisions

It's oficial now. Danish conglomerate A.P. Moeller-Maersk A/S said Thursday it is splitting into two separate units - transport and energy businesses. Denmark’s biggest company moves ahead with an historic shake-up of the conglomerate to generate growth, as it battles with the worst shipping downturn in years and a historic oil-price rout. "As announced on 23 June 2016, the Board of Directors has tasked the management of A.P. Møller - Mærsk A/S to perform a review focusing on the strategic and structural options for the Maersk Group with the objective of generating growth, increasing agilities and synergies and unlocking and maximising shareholder value with the long-term view," says a press release from the company. The main growth focus of A.P.

25 Sep 2016

Fitch: Maersk Gets Little Solace from Sectoral Diversification

The decision by A.P. Moeller-Maersk A/S to split into two separate divisions - Transport & Logistics and Energy - reflects the challenging fundamentals in the sectors in which it operates, and diminishing counter-cyclical benefits of operating in them in the current economic cycle, Fitch Ratings says. We do not expect the split to significantly improve the performance of the group's separate units, although the increased focus may help long-term strategy execution. We believe operational diversification does not consistently provide material benefit to Moeller-Maersk's business profile because the industries in which the company operates are highly cyclical and volatile.

28 Sep 2016

S. Korean Court Mulls Sale of Hanjin

The South Korean bankruptcy court handling the insolvency proceedings of Hanjin Shipping Co. said Wednesday a sale of the troubled company is possible, say media reports. However, the court has yet to reach a decision. "The sale of Hanjin is one of the options we're considering. If we conclude that it's the best way to rehabilitate the company, we'll do so, " Choi Ung-young, a judge and a spokesman for the Seoul Central District Court, said. According to Bloomberg, the Seoul Central District Court has called for a meeting of officials who are evaluating the container line. The court thinks it’s important to start the process sooner rather than later, but the sale plan will depend on market conditions. Hanjin, which filed for court receivership on Aug.