Moller-Maersk Group On the Right Track Says CEO

Press Release
Wednesday, August 15, 2012

Danish shipper and oil group A.P. Moller-Maersk expects to do better this year than last despite a 2 percent drop in Q2 2012 earnings.

Extracts from the interim financial report for the 2nd quarter 2012:

“We deliver a fairly satisfactory result for the second quarter, and we are on the right track. Container rates have been improved, Maersk Line is back in black figures and our other core growth businesses are executing well on strategy. We can still improve and will continue our strong focus on profitability to deliver a satisfactory full-year result. We also maintain our investments in long-term growth, not least in developing our many oil discoveries towards production,” says Group CEO Nils S. Andersen.

Maersk Line’s profit for the period was USD 227m (loss of USD 95m). Maersk Line’s volumes increased by 11% to 2.2m FFE and the average freight rate increased by 4.2% to 3,014 USD/FFE. Maersk Line implemented further rate increases on most trades during the quarter backed by capacity reduction. A 10% increase in the bunker price was partly offset by an 8% reduction in bunker consumption per FFE.

Maersk Oil’s profit for the period was USD 468m (USD 694m). The result was negatively affected by a 17% decline in share of production to 287,000 barrels of oil equivalent per day (boepd) compared to 346,000 boepd in Q2 2011.

APM Terminals’ profit for the period was USD 160m (USD 162m). Throughput increased by 7% and by 5% on a like-for-like basis to 9.1m teu (8.4m teu).

Maersk Drilling’s profit for the period was USD 101m (USD 99m). The result was positively impacted by reversal of impairments of USD 30m and negatively impacted by two rigs requiring extensive maintenance and upgrade before start-up of operations. As a consequence of the required maintenance rig operational uptime declined to 86% (97%).
 



 

Maritime Reporter September 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

NYK Opens New Planning Center in Kumamoto

On September 1, 2014, NYK and Kozo Keikaku Engineering Inc. established a stowage planning center for container shipping at the Kumamoto office of Kozo Keikaku Engineering Inc.

TNO Receives 'International Media Award for Prevention'

The Engagementgame developed by TNO in collaboration with partners is the winner of the 'International Media Award for Prevention' in the category Multi Media.

More German Shipowners Look to Gibdock for Repairs

Gibdock remarks it has continued to see its stock rise amongst the German shipowner community over the past year. Indeed the Gibraltar ship repair yard’s recent

Finance

A Boost for UK Offshore Drilling? DW Monday Muses

Drilling activity offshore UK is now expected to increase over the next few years as government and industry reacts to the recommendations in Sir Ian Wood’s report

MHI, IHI & DBJ Join Forces On Investments

Mitsubishi Heavy Industries, Ltd. (MHI), IHI Corporation and the Development Bank of Japan Inc. (DBJ) concluded a three-way formal agreement today on their respective

Clarksons PLC Perform Strongly in 1H 2014

Leading shipping services group, Clarksons PLC reports strong strong financial performance in the first half of 2014. Financial Results Clarksons increased revenues by 25% to £111.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Ship Simulators 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: 0.1567 sec (6 req/sec)