Ap Moller News

23 Apr 2019

HMM to Enhance Global On-site Management

Jae-hoon Bae, President & CEO of HMM. Photo: HMM

The new head of South Korean flag carrier Hyundai Merchant Marine (HMM) Jae-hoon Bae is on a charm-offensive trip to Europe to cement the shipping line's relations with global majors.HMM said Bae, who became HMM's president and chief executive last month, will meet this week with executives at A.P. Moller-Maersk A/S and Mediterranean Shipping Co.First of all, Bae plans to visit the European headquarter of HMM, located in London, to encourage its employees and make sales strategies based on the character of each region after gathering the various opinions from the site.Furthermore…

17 Apr 2019

ZIM Joins TradeLens Blockchain Platform

Pic: Zim

The cargo shipping company in Israel, ZIM Integrated Shipping Services announced that it has signed on as a member of TradeLens, a blockchain-enabled digital shipping solution jointly developed by A.P. Moller - Maersk and IBM.TradeLens uses blockchain technology to enable trust between multiple trading partners – from carriers to freight forwarders, customs officials, port authorities and more -- when transacting in a digitized global trade documentation process.TradeLens ecosystem members get a single shared view of a transaction without compromising details…

16 Apr 2019

Digital Container Shipping Association Formed

Pic: Maersk Line

Four container shipping giants -  AP Moller-Maersk, Hapag-Lloyd, MSC and ONE - have jointly established Digital Container Shipping Association (DCSA)  in The Netherlands to drive standardisation, digitalisation and interoperability in the industry.Industry veterans form leadership team, with Thomas Bagge appointed as CEO, said a press release from Hapag-Lloyd.After gaining regulatory approval from the Federal Maritime Commission (FMC) last month, four container shipping companies officially established the Digital Container Shipping Association (DCSA) on April 12…

09 Apr 2019

Maersk Mulls Trade Financing Growth in India

Image: Maersk

Shipping major AP Moller-Maersk Group's export-import (exim)-focused trade finance arm Maersk Trade Finance is targeting a 33 percent loan disbursal growth at $200 million in 2019 in India.The trade financing solution arm of Danish business conglomerate said that it disbursed a total of USD 0.7 billion globally till date since its inception in 2015, with over 150 million in India in the year 2018, a 53% Y-o-Y increase as compared to 2017.Vipul Sardana, Global Head of Maersk Trade Finance said “Indian SME sector continues to play a significant role in India's economic development.

03 Apr 2019

Maersk Vice CEO Steps Down After Energy Exit

Photo: A.P. Moller – Maersk

Danish conglomerate A.P. Moller – Maersk informed that Claus V. Hemmingsen steps down as Vice CEO of the group. The company's energy division, which was headed by him, will also be shut down."The Energy division will close down latest by the end of June 2019, and Claus Hemmingsen will subsequently leave A.P. Moller – Maersk,  after nearly 40 years in service," said a company statement.The Group has successfully concluded the separation of Maersk Tankers, Maersk Oil and Maersk Drilling as part of the transformation initiated in 2016 to focus A.P.

02 Apr 2019

Svitzer to Deliver Two Tugs for Suez Canal

Photo by Svitzer

Svitzer, part of Denmark-based A.P. Moller - Maersk Group, has signed a 10-year agreement with the Suez Canal Authority wherein the company will provide two newbuild tugs to support operations.The the largest company globally within towage, salvage and related services said in a press release that per agreement, it has to provide two new azimuth stern drive (ASD) tugs for supporting the operations in Port Said and Suez Canal."After several stages of approval and multi-disciplinary approaches…

29 Mar 2019

Maersk Aborts Sale of Maersk Supply Service

Pic: Maersk Line

The world's largest container shipping company A.P. Møller – Mærsk A/S announced that its Board of Directors has decided to retain full ownership of Maersk Supply Service.The offshore support vessel industry, which Maersk Supply Service operates within, has over the last three years exhibited clear signs of distress, reducing company market capitalisations and lower asset values, negatively impacting the ability to find a sustainable ownership structure for Maersk Supply Service outside of A.P.

29 Mar 2019

COSCO Shipping Flags Risks From Oil Price, Trade Dispute

Photo courtesy of COSCO

China's COSCO Shipping Holdings Co Ltd said trade frictions and high oil prices pose risks for the global shipping industry this year, after confirming on Friday that its net profit for 2018 fell by more than half.The state-owned company, the world's third largest container shipping line, said net profit attributable to shareholders slid 53.8 percent to 1.2 billion yuan ($178.83 million) last year from 2.7 billion yuan a year earlier.It had warned profit would slump in January.Revenue rose 33.6 percent as demand for its container shipping and terminal business remained strong, COSCO said.

29 Mar 2019

Maersk Ditches Offshore Services Sale

(Photo: Maersk Supply Service)

A.P. Moller-Maersk said on Friday it had abandoned plans to sell its offshore services business, blaming tough market conditions for the blow to the Danish conglomerate's attempts to focus entirely on its transport and logistics business."This disturbs the tale they started to tell in 2016.

24 Mar 2019

DSGC Joins Forces with Maersk for Biofuel Project

Pic: Maersk

A group of Dutch multinationals including FrieslandCampina, Heineken, Philips, DSM, Shell and Unilever, all members of the Dutch Sustainable Growth Coalition (DSGC), will join forces with A.P. Moller - Maersk on a pilot testing the use of second-generation biofuel.The test is part of an effort by Maersk to reach its net zero CO2 target by 2050 as a tangible step towards the decarbonization of ocean shipping.A pilot, using up to 20% sustainable second-generation biofuels on a large triple-E ocean vessel will sail 25.000 nautical miles from Rotterdam to Shanghai and back on biofuel blends alone…

18 Mar 2019

EGA Signs Pact with Maersk

Pic: EGA

Emirates Global Aluminium has signed a volume commitment extension agreement for 2019 with the global shipping company A.P. Moller - Maersk for transport EGA's aluminium to customers around the world.EGA exports its metal to customers in more than 60 countries worldwide and makes more than 11,000 shipments each year using over 100,000 containers. EGA’s aluminium is the biggest made-in-the-UAE export after oil and gas, said a press release from thealuminium conglomerate  owned…

18 Mar 2019

GIA Expands Membership

Pic: International Maritime Organization (IMO)

The Panama Canal Authority and A.P. Moller – Maersk A/S are the latest entities to join the International Maritime Organization (IMO)-supported Global Industry Alliance to Support Low Carbon Shipping (GIA).According to the UN body, the GIA now has 18 members, including leading shipowners and operators, classification societies, engine and technology builders and suppliers, big data providers, oil companies and ports.The new members signed up to the GIA during the fifth meeting of the GIA Taskforce at IMO Headquarters in London…

13 Mar 2019

Bunker Adjustment Methodology Gets Okay

Pic: Lloyd's Register

Maersk Tankers, owned by A.P. Moller Holding, uses the methodology Bunker Adjustment to distribute payments to pool partners based on the bunker consumption of their vessels compared to the pool average.The methodology has now been reviewed by Lloyd’s Register, confirming its conformity to recognised industry quality standards, said the product tanker company operating 164 vessels, one of the largest fleets in the product tanker industry.The Bunker Consumption methodology calculates…

04 Mar 2019

DP World Asks Court to Halt Antitrust Probe at Mumbai Port

Dubai's DP World has asked an Indian court to halt an investigation into alleged antitrust violations at the country's largest container port in Mumbai, saying the regulator was seeking excessive information, a court document seen by Reuters showed.The Competition Commission of India (CCI) last year said it suspected antitrust violations by DP World and Denmark's A.P. Moller-Maersk at the terminals they operate at state-owned Jawaharlal Nehru Port Trust (JNPT).The CCI's investigation followed a complaint by Singapore's PSA International Pte Ltd, which alleged that Maersk and DP World businesses created barriers to hinder the growth of PSA's terminal by colluding on certain charges they levy at JNPT.In December, a Mumbai high court declined a DP World plea to quash the investigation.

26 Feb 2019

Maersk: Firm Cleared in U.S. Shipping Investigation

File Image (CREDIT: Maersk)

A.P. Moller Maersk said on Tuesday a U.S. Department of Justice (DoJ) investigation into the practices of container shipping companies had closed and the group was released from any obligations.In 2017, the DoJ ordered top executives from several container shipping lines including Maersk to testify in an antitrust investigation over practices by an industry that is the backbone of world trade."We are pleased to confirm that the United States Department of Justice has closed its…

25 Feb 2019

Shipping Recovery Boosts Hapag-Lloyd's Earnings

File Image: CREDIT Hapag Lloyd

Full-year operating profit up by 32 percent.Container shipping firm Hapag-Lloyd said volume growth and a modest recovery in freight rates in the second half of 2018 helped push operating profit 32 percent higher, lifting shares in the German group on Monday.Hapag-Lloyd said preliminary earnings showed operating profit before interest and tax (EBIT) rose 32 percent to 443 million euros ($502.81 million) in 2018, while earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 83 percent to 1.138 million euros.

25 Feb 2019

Maersk Drilling Mulls Listing in Recovering Market

File Image: CREDIT Maersk Drilling

Drilling rig contractor Maersk Drilling, which will soon list on the Copenhagen stock exchange, said the offshore drilling market is improving as oil firms generate more cash and look to boost reserves.A fall in oil prices in 2014 prompted a severe downturn in the industry as oil companies cancelled or postponed exploration plans, reducing demand for offshore drilling rigs."What drives our faith in a market recovery is to a high degree the higher activity we see from the oil companies…

21 Feb 2019

Maersk Shares Fall on Trade War Fears

File Image: CREDIT Maersk

The world's largest container shipping company, A.P. Moller-Maersk, warned trade headwinds would slow growth this year, sending its shares down 10 percent on Thursday.Maersk is also moving ahead with spinning off Maersk Drilling, announcing it expected its new listing in Copenhagen to begin trading on April 4.Maersk, a bellwether for global trade, warned that growth in the number of containers being moved around the world would deteriorate further this year.It expected global container growth of 1-3 percent in 2019…

14 Feb 2019

Maersk, PBF Logistics in Low Sulfur Fuel Deal

Maersk and PBF Logistics LP announce agreement for production and storage of 0.5% sulphur fuel on the U.S. East CoastPBF Logistics terminal facility in New Jersey to deliver approx. 10% of A.P. Moller – Maersk’s annual fuel demand as Maersk continues preparations for the International Maritime Organization’s (IMO) 2020 global sulfur regulation.A.P. Moller - Maersk and PBF Logistics LP announced an agreement for Maersk to source and PBFX to process crude oil at CPI Operations LLC, a PBF Logistics LP terminal facility in New Jersey, United States.The agreement enables Maersk Oil Trading to supply IMO 2020-compliant 0.5% marine fuel to its customers on the US East Coast. Annual production will be around 1.25 million metric tonnes (mt), the equivalent of approx. 10% of A.P.

19 Dec 2018

Maersk Enhances Asia-Europe Network

Image: Maersk Line

Six ships will be added to A.P. Moller - Maersk's new route network between Asia and Europe, the Danish conglomerate announced new changes to its services connecting Asia and Europe.Changes implemented in the second quarter of 2018 have improved the reliability of company’s schedules. However, port congestions and unfavorable weather conditions have resulted in delays.“We are now progressing on the improvements made earlier in 2018 to further enhance our schedule reliability across our Asia-Europe Network”…

19 Dec 2018

Maersk Moves North-East England Coverage to Hull

Image: Maersk

A.P. Moller - Maersk, an integrated container logistics company, announced that it is moving its  North-East England coverage from Immingham to Hull.The existing connection between Immingham and continental Europe, will change to Hull, enabling better accessibility for local shippers and offering convenient connection with mainline services."Starting January 12th, 2019, the short sea service, operated by BG Freight and currently calling Immingham, will be moved to Hull Container Terminal in East Yorkshire…

12 Dec 2018

Norway to Drillers: Fix Oil Rig Lifeboat Safety

© Marius Dobilas / Adobe Stock

Norway's Petroleum Safety Authority (PSA) has told Transocean, Maersk Drilling and Odfjell Drilling to beef up emergency evacuation equipment and procedures on 22 offshore oil rigs, it said on Wednesday.Drilling rigs are equipped with enclosed lifeboats that can be dropped into the ocean in an emergency and owners must meet a series of technical and operational requirements for how to plan and carry out evacuations."All the audits identified a non-conformity from the regulations.

09 Dec 2018

Moody's Downgrades Maersk

Image: Maersk

Moody's Investors Service has downgraded ratings for AP Moller-Maersk after a review of the Denmark-based shipping and oil company. Moody's expressed concerns about lower economic growth and the US-China trade war."The downgrade reflects our expectation that Maersk will face increased market and execution risks and, as a result, operate at a higher leverage than is commensurate with a Baa2 rating for a company in such a volatile and cyclical business as container shipping," said Maria Maslovsky…

Maritime Reporter Magazine Cover Apr 2019 - Navies of the World

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