Maersk Line to Comply with U.S Sanctions on Iran
Maersk Line, a part of A. P. Moller-Maersk, acknowledged that the United states has announced it will cease its participation in the joint comprehensive plan of action (JCPOA), and re-impose Sanctions on Iran following a wind down period. Maersk will respect U.S. regulation on Iran, and has initiated preparations to ensure compliance before the wind-down period expires. Regarding imports into Iran, acceptance from origins will cease from 1 July 2018. Exports from Iran and loadings from Iran ports are to cease from end-august 2018. Compiled by Reuters Copenhagen Newsroom.
Responders Tracking Containers Lost off North Carolina
The U.S. Coast Guard, NOAA and Environmental Protection Agency are monitoring the tracking and assessment of more than six dozen stray cargo containers lost due to high winds and heavy seas about 17 miles off Oregon Inlet, N.C. On Sunday, March 4, the cargo ship Maersk Shanghai alerted watchstanders at Sector North Carolina’s command center that they lost about 70 cargo containers during a heavy roll. Maersk later confirmed the total number of containers lost overboard was 76 as well as their contents. A. P.
Maersk: Most Ports at Normal Ops After Cyber Attack
Maersk Line sees "great progress" in the restoration of its infrastructure after it was hit by a cyber attack this week, it said in an update to customers on Friday. * "We are open for business and are accepting bookings," Maersk Line, A.
DONG Energy Settles Platform Dispute
DONG Energy said it has reached a settlement with Daewoo Shipbuilding & Marine Engineering and Technip over who bears responsibility for construction errors concerning an offshore platform for the idled Hejre field. The settlement clears a major hurdle for the Danish company's plans to divest its oil and gas unit to focus on its growing business of developing offshore wind farms. DONG said in a statement that the agreement will reduce the 2.5 billion Danish crowns ($367 million) of provisions it made in relation to the Hejre field ahead of its listing, which was one of the largest in the world last year. It will also have a positive impact of around 900 million crowns on operating profit in DONG's Discontinued Operations…
New Venture Aims to Uproot Shipping’s Status Quo
With a belief that innovation in shipping has fallen well behind other sectors, new entrant into the maritime industry Nisomar has launched a range of services for ship owners, operators, brokers, charterers and financial institutions. Nisomar said it has pioneered a method of collecting global shipping data and created proprietary technology, based upon technology that generates highly accurate business-critical data. The firm will derive insights from big data to offer analytics that support business decisions…
Maersk Reaches Key North Sea Tax Deal with Denmark
Shipping and oil company A. P. Moller-Maersk on Wednesday reached an agreement with the Danish state that means it will pay less tax on its North Sea oil and gas activities through 2025. The deal, which has been under negotiation for months, makes it viable to redevelop the Tyra field through which 90 percent of Denmark's gas production is processed, and it is seen as crucial for the Danish company that is seeking to spin off its energy assets via a listing or merger. Maersk and its partners in the Danish Underground Consortium (DUC) -- Shell…
Danish Finance Minister to Report on North Sea Oil Negotiations with Maersk
Denmark's finance minister Kristian Jensen will hold a news conference about the government's ongoing negotiations with the Danish Underground Consortium (DUC) about a new tax agreement for North Sea oil and gas operations at 1745 CET on Wednesday, the finance ministry said in a statement. DUC consists of Danish shipping and oil conglomerate A. P. Moller-Maersk, Shell, Chevron CVX.N and state-owned Nordsofonden. The deal is seen as crucial for Maersk as it seeks to focus its operations on the North Sea and spin off its energy assets via a listing or merger. (Reporting by Teis Jensen; Editing by Toby Chopra)
Maersk Line Sees Little Impact on Customers' Cargo from Hanjin Collapse
Maersk Line, the world's biggest container shipper and a unit of Danish conglomerate A. * Maersk Line expects minimal impact on its customers' cargo. * Maersk Line on Aug. 30 instructed its global operations centres to not load any cargo onto Hanjin owned vessels. * Says customers have cargo on board two of Hanjin's operated vessels, Maersk Sebarok and Maersk Senang, sailing on the Chennai Express service between Far East Asia and South East India. * Says vessels Hanjin New Jersey…
Maersk's New CEO Appointment Raises Prospect of Break-up
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.
Maersk Chairman: Company Could Be Split Up
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.
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
Maersk Line to Increase Asia-Europe Rates
Maersk Line, part of Denmark's A. P. Moller-Maersk, plans to increase shipping freight rates for transporting containers from ports in Asia to Northern Europe by $400 per 20-foot container (TEU) from Feb. 1, it said on Tuesday. Rates on the route, the world's busiest for container shipping, jumped 24.6 percent to $1,256 per TEU last week, data showed on Monday The Danish shipping company controls around one fifth of all transported containers from Asia to Europe. Reporting by Teis Jensen
Maersk Line to Increase Asia-Europe Rates
Maersk Line, part of Denmark's A. P. Moller-Maersk, plans to increase shipping freight rates for transporting containers from ports in Asia to Northern Europe by $800 per 20-foot container (TEU) from Jan. 15, it said on Tuesday. Rates on the route, the world's busiest for container shipping, fell by 5.6 percent in the last week of 2014 to $1,085 per TEU, data showed on Friday. Reporting by Teis Jensen
Keeping it in the Family: Maersk Founder's Scion Steps Aboard
At its recent general meeting of AP Moller-Maersk, Mærsk Mc-Kinney Møller's grandson Robert Maersk Uggla was elected to the board of the company, which will ensure the family's active ownership and continuity in the company, according to a report by Børsen with Maritime Denmark. Citing Robert Maersk Uggla the report indicates that he thinks it means a lot to the family. They wished to remain as an active owner of A. P. Moller-Maersk and he considered that that is what his grandfather would have wanted and his mother wants the same. Apparently he has worked in the company for 10 years.
EC Clears Acquisition of PONL by Maersk
The European Commission issued a Press Release stating that it has cleared the acquisition of P&O Nedlloyd by A. P. Moller-Maersk, subject to conditions. The combined entity will have to divest itself of PONL’s business on the trade between Europe and South Africa and it will have to withdraw from several conferences and consortia. Source: HK Law