Marine Link
Friday, March 29, 2024
SUBSCRIBE

Vincent Clerc News

15 Feb 2024

WSC Proposes Green Balance Mechanism

© Kalyakan / Adobe Stock

As the IMO prepares for negotiations on regulations to support net-zero by 2050 at MEPC 81 in March, the World Shipping Council (WSC) has proposed a greenhouse gas pricing mechanism it calls the Green Balance Mechanism.The aim is to provide a new approach to greenhouse gas pricing which makes it possible to close the price gap between fossil fuels and green fuels, at the lowest possible overall cost:• Through the Green Balance Mechanism, fees are taken from fossil fuels and allocated to green fuels used…

08 Feb 2024

Maersk Warns Oversupply to Hit Profits

© Fotokon / Adobe Stock

Maersk warned on Thursday that container shipping overcapacity would hit profits more than expected this year and that it didn't see a major boost from the jump in freight rates due to Red Sea disruptions, hammering its shares.The warning, which also led the Danish shipping giant to suspend its share buyback programme, is in stark contrast with investors' recent optimism about the sector.Container shipping companies have been among the best-performing stocks in Europe this year…

29 Jan 2024

Maersk Names Charles van der Steene President for North America

Charles van der Steene (Photo: Maersk)

A.P. Moller - Maersk (Maersk) announced it has appointed Charles van der Steene as the new Regional President for North America, effective February 1, 2024. With the move, van der Steene will join the company’s Executive Leadership Team.A logistics industry veteran, van der Steene joined Maersk in 2011 with deep global experience in commercial leadership, operations and general management. He previously led Maersk’s commercial organization in North America and most recently headed up Maersk’s Global Commercial Excellence and Transformation organization.Narin Phol…

25 Jan 2024

Maersk Names First Large Methanol-Enabled Vessel

Source: Maersk

The world’s first large methanol-enabled container ship has been named Ane Mærsk at a ceremony in the shipyard of HD Hyundai Heavy Industries in Ulsan, South Korea.The 16,000 TEU vessel is named after Ane Mærsk Mc-Kinney Uggla, the Chair of the A.P. Moller Foundation and A.P. Moller Holding. Ane’s eldest granddaughter served as godmother, and christened the vessel by breaking a champagne bottle over the bow.Ane Mærsk is the first of Maersk’s 18 large methanol-enabled vessels that will be delivered between 2024 and 2025.

17 Jan 2024

US Lists Houthis as Terrorists, Business Fears Lengthy Red Sea Disruption

© aerial-drone / Adobe Stock

The United States on Wednesday returned the Yemen-based Houthi rebels to a list of terrorist groups, while business chiefs warned that disruption to shipping in the Red Sea caused by their attacks could affect supply chains for months.Attacks by the Iran-allied Houthi militia on ships in the region since November have slowed trade between Asia and Europe and alarmed major powers - an escalation of Israel's more than three-month-old war with Palestinian Hamas militants in Gaza.The Houthis say they are acting in solidarity with Palestinians and have threatened to expand attacks to include U.S.

17 Jan 2024

Maersk and Hapag-Lloyd Set Up Operational Cooperation

© STOCKSTUDIO / Adobe Stock
 

Shipping industry majors Hapag-Lloyd and Maersk have signed an agreement for a new long-term operational collaboration called ‘Gemini Cooperation’, which will start in February 2025.The ambition is to deliver a flexible and interconnected ocean network with industry-leading reliability.The new cooperation between the companies will comprise a fleet pool of around 290 vessels with a combined capacity of 3.4 million containers (TEU). Maersk will deploy 60% and Hapag-Lloyd 40%, the shipping giants said.As a part of the agreement…

04 Dec 2023

Shipping CEOs Call for End to Fossil-Only Newbuilds

Source: CMA CGM

The CEOs of leading global shipping lines issued a joint declaration at COP 28 calling for an end date for fossil-only powered newbuilds and urging the IMO to create the regulatory conditions to accelerate the transition to green fuels.The only realistic way of meeting the IMO’s 2030, 2040 and net-zero 2050 goals is to transition from fossil to green fuels at scale and at pace, they say.Their joint declaration calls for:• An end date for new building of fossil fuel-only vessels and a clear GHG Intensity Standard timeline to inspire investment confidence…

03 Nov 2023

Maersk to Cut at Least 10,000 Jobs as Shipping Boom Unravels

Credit: Fotokon/AdobeStock

Shipping group A.P. Moller-Maersk reported a steep drop in third-quarter profit and revenue on Friday and said it would cut at least 10,000 jobs in the face of overcapacity, rising costs, and weaker prices.Maersk, which controls about one-sixth of global container trade, transporting goods for a host of major retailers and consumer goods companies such as Walmart and Nike, flagged a steeper downturn in demand than analysts and investors had expected."Our industry is facing a new normal with subdued demand…

14 Sep 2023

Historic Moment: World's First Green Methanol-Powered Container Vessel Named in Denmark

© A.P. Moller - Maersk. All rights reserved.

Ursula von der Leyen, the president of the European Commission, on Thursday named the world’s first-ever container vessel sailing on green methanol.At a ceremony in Copenhagen on September 14, where the Maersk-owned vessel arrived from Ulsan in South Korea, Von Der Leyen acted as the ship's godmother and named the vessel 'Laura Maersk'.The Danish-flagged 172-meter-long vessel has been described as a key milestone for A.P. Moller-Maersk’s plans to achieve net zero greenhouse gas emissions in 2040 across the entire business.To meet its 2040 target of net zero greenhouse gas emissions in time…

04 Aug 2023

Maersk Warns of Slower Demand for Container Shipping

Shipping group A.P. Moller-Maersk warned on Friday of a steeper decline in global demand for shipping containers by sea this year, prompted by muted economic growth and customers reducing inventories.The company, one of the world's biggest container shippers with a market share of around 17%, said it expects container volumes to fall by as much as 4%. It had previously forecast a decline of no more than 2.5%.Maersk transports goods for retailers and consumer companies such as Walmart…

04 May 2023

Maersk Expects Recent Drop in Container Demand to Stabilize by Mid-year

© tonyv3112 / Adobe Stock

Shipping group Maersk on Thursday reported first-quarter earnings above expectations and maintained its 2023 profit guidance as it expects a recent drop in demand for container shipments to stabilize around mid-year.Maersk, which transports goods for retailers and consumer companies such as Walmart, Nike and Unilever, said the number of containers it loaded onto ships between January and March fell by 9% from a year earlier, while freight rates fell by 37% on average."We delivered a solid financial performance in a challenging market with lower demand caused by continued destocking…

08 Feb 2023

Maersk Warns of Four-fold Drop in Profits in 2023

©Maersk

Shipping group A.P. Moller-Maersk warned on Wednesday lower container volumes and freight rates would drive a four-fold plunge in profits this year, even as it reported record earnings for 2022.The Copenhagen-based company, which transports goods for retailers and consumer companies such as Walmart, Nike, and Unilever, raised its profit forecast twice last year as a surge in consumer demand and pandemic-related logjams at ports boosted freight rates.But freight rates have since…

25 Jan 2023

Container Shipping Giants Maersk, MSC to End Alliance from 2025

©Maersk

Container shipping firms MSC Mediterranean Shipping Company (MSC) and Maersk have mutually agreed to terminate, effective in January 2025, their 2M alliance.2M is a container shipping line vessel sharing agreement (VSA) introduced in 2015 " with the aim of ensuring competitive and cost-efficient operations on the Asia-Europe, Transatlantic and Transpacific trades."In a joint statement on Wednesday, CEO Vincent Clerc of A. P. Moller - Maersk, and CEO Soren Toft of MSC said:“MSC and Maersk recognize that much has changed since the two companies signed the 10-year agreement in 2015.

10 Jan 2023

Maersk Announces New Executive Leadership Team

Vincent Clerc, CEO of A.P. Moller - Maersk (Photo: A.P. Moller - Maersk)

Danish shipping giant A.P. Moller - Maersk on Tuesday announced a new organizational structure and a new executive leadership team.The changes are effective February 1, 2023 and follow the appointment of Vincent Clerc as CEO of A.P. Moller - Maersk effective January 1, 2023."The business has executed well during the past years, and we have a highly engaged and competent global team ready for the next miles of our transformation, Clerc said. "We face a challenging global economic outlook…

13 Dec 2022

Hapag-Lloyd CEO: Bounce in Shipping Demand Short-lived

©travelview/AdobeStock

Germany's Hapag-Lloyd is seeing a small uptick in demand for shipping after a decline in recent months, but the company on Tuesday reiterated its more muted outlook for the industry as pandemic disruption fades.The container business, a bellwether of global economic trends, had seen a noticeable contraction in demand in September and October as economies around the world grappled with sharply spiking inflation and cost-of-living crises in the wake of Russia's invasion of Ukraine."I don't think the market is as weak as it was four or eight weeks ago…

12 Dec 2022

Shipping Giant Maersk Replaces CEO

Soren Skou retires as CEO of A. P. Møller - Mærsk A/S, handing the baton to Vincent Clerc, who is appointed new CEO.- ©Maersk

Shipping giant A.P. Moller-Maersk said on Monday it had appointed Vincent Clerc, who has been with the firm for 25 years, to replace Soren Skou as Chief Executive Officer as of Jan 1. Company veteran Clerc, who currently heads the company's Ocean & Logistics business, is taking the helm at a time of slowing demand for transport and logistics as a global recession looms. "The strong tailwinds that benefited the supply chain industries during the pandemic are coming to an end," said chair of the board Robert Maersk Uggla in a statement.

22 Jun 2022

Maersk Sees No Let Up In Surging Cost of Shipping Goods

© Val Traveller / Adobe Stock

The cost of shipping goods has surged 25-30% since the start of the pandemic due to array of inflationary pressures that are "unlikely to abate in the short term," world No.

10 Nov 2021

Vestas Partners with Maersk on Containerized Transport

(Photo: A.P. Moller - Maersk)

Wind turbine manufacturer Vestas and shipping giant Maersk have formed a long-term strategic partnership for all containerized transport, including door-to-door transport from the company's suppliers to their factories and service warehouses as well as containerized site parts and transport equipment.The partnership, which becomes effective January 1, 2022, also includes all airfreight shipments, but not non-containerized road transport and outbound transport, which will continue to be managed by DSV and other partners.By partnering with Maersk…

04 Feb 2021

Hestbaek Takes the Helm at Hamburg Süd

Poul Hestbaek (Photo: Hamburg Süd)

Long-serving Hamburg Süd executive Poul Hestbaek will take the CEO reins from Dr. Arnt Vespermann, who will step down after more than 20 years at the German container shipping company.Hestbaek has been with Hamburg Süd since 2004 and is currently the company's CCO. The 59-year-old shipping-industry veteran has previously been responsible for the liner shipping company’s commercial business on several continents, including Latin America, Europe and Asia/Pacific.Vespermann joined…

06 Jan 2021

Maersk Says European Lockdowns Have Not Dented Demand for Shipping

© Elles Rijsdijk / Adobe Stock

High shipping rates are set to continue for at least several weeks, despite new coronavirus lockdowns in Europe, boosted by demand for furniture, exercise equipment and home improvement goods, shipping group Maersk said on Wednesday.A surge in demand from shoppers sheltering at home in a worsening COVID-19 pandemic has upended normal trade flows and triggered a spike in the cost of moving goods around."There are simply not enough containers in the world to cope with the current demand…

01 Sep 2020

Maersk to Slash Jobs in Major Reorganization

Credit: eyewave/AdobeStock

Maersk will cut jobs in a major shake-up that will affect a third of the shipping giant's staff as it seeks to integrate its seaborne container and in-land logistics businesses, it said on Tuesday.Maersk, which handles about one in five containers shipped worldwide, has been under pressure from investors to speed its transformation from an unwieldy conglomerate but has proved resilient in the face of the COVID-19 pandemic.Cost cuts and its reinstatement of more upbeat guidance last month have helped to double its share price since March and the shares were trading 0.9% up at 9,652 crowns by 08

06 Jul 2020

Maersk Acquires Customs Broker KGH

© aapsky / Adobe Stock

Maersk said on Monday it had agreed to buy Sweden-based customs broker KGH Customs Services for 2.6 billion Swedish crowns ($281 million), as the container shipping group seeks to expand its end-to-end logistics services.Maersk since 2016 has sold its oil and gas business and focussed on its container and logistics business for customers including Walmart and Nike.It handles about one in five containers shipped by sea worldwide and is seeking to speed up investments in in-land logistics services.Last year…

28 May 2020

Shipping Industry Goes Digital in Lockdown

(Photo: DP World)

The coronavirus lockdown has accelerated a digitalization drive in a global shipping and logistics sector that still routinely delivers many documents by bike messenger in some countries, according to industry leaders.Ports operator DP World said on Thursday it would join shipping company Maersk and other peers in a blockchain platform aimed at limiting the sector's costly paper trail."The situation around the coronavirus is a very good catalyst for making sure everyone in the supply chain can communicate with each other digitally," Mike Bhaskaran, DP World's chief operating officer for logist