Maersk to Raise HSFO Bunker Fuel Consumption to 25%
Danish shipping group A.P. Moller-Maersk plans to raise the proportion of high sulphur fuel oil it consumes from 10% to 25% by the year-end, CEO Soren Skou says.The world's largest container shipping firm consumed a total of around 11.80 million tonnes of shipping fuel last year.Maersk's current shipping fuel use comprises of around 10% ultra low sulphur (0.1%) fuel oil, 10% high sulphur fuel oil and the remaining 80% is low sulphur fuel oil. (Reporting Stine Jacobsen and Shadia Nasralla. Writing by Ahmad Ghaddar; editing by David Evans)
Coronavirus to Hit Earnings: Maersk
Global integrated container logistics company A.P. Moller - Maersk posted improved earnings and free cash flow for 2019, despite weaker market conditions and global container growth of only 1.4 percent.However, the Danish business conglomerate said that the coronavirus (COVID-19) would hit its earnings this year as the world's largest container shipping company warned of a "very weak" start to the year.The company expects an EBITDA of around USD 5.5bn, before restructuring and integration costs.
Global Container Demand to Grow by 1-3% in 2020
For 2020, global container demand is projected to grow by 1-3%, as per forecast by A.P. Moller - Maersk.The continued weak global sentiment above all in the manufacturing sector reduces the likelihood of a material growth pick-up in 2020, although sentiment brightened a bit at the end of 2019, and some improvement can be expected on the back of stabilizing inventory dynamics, said the shipping giant.Aside from the cyclical slowing of the global economy, substantial risk to global container demand comes from the effectiveness of fiscal and monetary policy in major economies…
Maersk to Buy U.S. Warehousing and Distribution Firm
Danish shipping group A.P. Moller-Maersk said on Wednesday it had agreed to buy U.S. warehousing and distribution firm Performance Team as part of plans to deliver more customized logistics solutions.Maersk said the the value of the deal is $545 million, including lease liabilities of around $225 million.The world's largest container shipping firm aims to boost its earnings from its inland logistics operations, or non-ocean business. In 2018, the ocean transport business accounted for almost 80% of core earnings."This will strengthen our ability to deliver products and solutions that meet our customers' end-to-end supply chain needs…
Maersk Names Jany CFO
A.P. Moller - Maersk has appointed Patrick Jany as its new chief financial officer, effective May 1, 2020.Jany, a German citizen, joins the world's largest shipping company as CFO and a member of the executive board after more than two decades with Swiss chemicals company Clariant, where he's been CFO since 2006. Prior to his role as CFO, he held several leadership positions within finance, general management and corporate development in Clariant in Germany, Mexico, Singapore, Indonesia and Spain.“I am pleased to welcome Patrick Jany to A.
Sri Lankan Supercar's Journey in Maersk
The container logistics company A.P. Moller - Maersk has embarked on a journey that covers the end-to-end logistics of first-ever Sri Lankan made electric supercar Vega EVX that will be unveiled at the Geneva Motor Show 2020 later this year in March.The car built in Colombo, started its journey from the Vega Innovations workshop in the heart of the city and is currently en route Port Rotterdam in the Netherlands from where it will continue all the way to Geneva, Switzerland.Maersk…
USCG, ABS Approve Wireless Helm System for ATBs
U.S.-based autonomous marine systems developer Sea Machines announced on Tuesday that it has received class and regulatory approval to install its commercial wireless helm system aboard a class of U.S.-flag tugboats that support articulated tug-barge (ATB) sets, marking an industry first in wireless vessel control.The U.S. Coast Guard (USCG) and American Bureau of Shipping (ABS) approval for Sea Machines’ SM200 follows a review of the Boston-based company’s technology and the system’s applications aboard ATB tugs, deeming the system satisfactory for shipboard installation and trials.
APM Sells Rotterdam Terminal to Hutchison
The Netherlands-based terminal operator APM Terminals, a subsidiary of Maersk Group, has signed a letter of intent for the sale of APM Terminals Rotterdam to Hutchison Ports, owner of the adjacent ECT Delta terminal.The complete transfer of shares is based on the agreement that, in the short term, APM Terminals Rotterdam will continue to exist as an independent organisation with a 5-year volume guarantee from parent company, A.P. Moller-Maersk and no forced redundancies within 4 years of signing the agreement.Under the ownership of Hutchison Ports…
Maersk Names CEO for Shipping
Danish integrated logistics giant A.P. Moller - Maersk appointed Vincent Clerc as CEO of Ocean and Logistics and Henriette Hallberg Thygesen as CEO of Towage, Manufacturing & Others.“A year ago, we integrated our customer facing roles across the company. We are now ready to accelerate the execution of our strategy through increased commercial and operational integration,” says Søren Skou, CEO of A.P. Moller - Maersk and continues:“With the new leadership structure announced today, I am confident that we will increase the pace.
Vado Gateway Container Terminal Opened
The international container terminal operating company APM Terminals (APMT) said it has opened a new container terminal in Vado Ligure, on the Italian Riviera, which will be capable of handling 900,000 TEUs of containerized cargo.APMT has a 50.1% share in the “Vado Gateway,” while Cosco Shipping Ports has a 40% share and Qingdao Port International has a 9.9% share. APMT said the project is part of the “New Silk Road.” Chinese firms have invested in more than a dozen European ports…
Sea Machines & HamiltonJet Collaborate
Boston-based Sea Machines Robotics announced it has commissioned an SM300 autonomous control system aboard a HamiltonJet-powered workboat in New Zealand. HamiltonJet is now trialing this marine technology and has offered to provide on-demand customer demonstrations in the Southern Hemisphere.The combination of Sea Machines and HamiltonJet systems for commercial vessels will help enable autonomous control of commercial vessels executing nearshore or coastal missions. The integration of water-jets delivers increased maneuverability, precise station-keeping and even emergency stops. The internal nature of a water jet drive also increases confidence when running autonomously and allows shallower-water operation.
GE Brings in Maersk's CFO as Finance Chief
General Electric Co on Monday named finance head at shipper AP Moller-Maersk as its new chief financial officer in the latest top-level change aimed at turning around the U.S. industrial conglomerate.Carolina Dybeck Happe will start in early 2020 and replaces Jamie Miller, whose departure was announced earlier this year as new Chief Executive Officer Larry Culp seeks to simplify operations and generate cash after booking billions of dollars in losses.The company has been struggling with the fallout of a series of poor long-term financial bets…
MSC Appoints Toft as CEO of Cargo Business
Swiss headquartered container shipping group MSC has appointed Soren Toft as the new chief executive officer of its cargo business from rival company A.P. Moller Maersk, an MSC spokesman said on Monday.A start date for Toft has yet to be determined, the spokesman said.Maersk, the world's biggest container line, said last week that Toft, who had served as its head of operations, had decided to leave the company to pursue outside opportunities.MSC is the world's second-largest container shipping line and is seen by industry watchers as a challenger to Maersk's position.
Maersk: Container Outlook Uncertain
Maersk Join Forces to Develop LEO
A.P. Moller - Maersk alongside with Wallenius Wilhelmsen, BMW Group, H&M Group, Levi Strauss & Co. and, Marks & Spencer to explore LEO - a blend of lignin and ethanol - that could be part of the future solution for sustainable shipping.From the phone, tablet or computer you are reading this on, to the fruit you eat, the trousers you wear or the car you drive, around 80% of the goods you use every day are delivered to you by sea. Shipping accounts for 2-3% of global CO2 emissions, a proportion that is set to increase as global trade continues to grow at a sluggish but steady pace. As such, this industry has an urgent need to reduce its environmental impact.Maersk and Wallenius Wilhelmsen have teamed up with Copenhagen University and major customers including BMW Group…
The Quest to Develop IMO 2020 'bio' Fuels
Top shipping, retail and transport companies are looking to develop an alternative marine fuel which aims to reduce carbon emissions from ships, in another step to push the sector to go green.International shipping accounts for 2.2% of global carbon dioxide emissions, according to the International Maritime Organization (IMO), more than aviation's 2% share.The IMO, a United Nations agency, has said it aims to halve greenhouse gas emissions from 2008 levels by 2050.Investor and activist pressure is prompting companies to look to speed up reducing the industry's carbon footprint.Denmark's A.P.
Maersk Develops Ship Fuel from Alcohol
Danish shipping conglomerate A.P. Moller - Maersk has joined forces with Wallenius Wilhelmsen, BMW Group, H&M Group, Levi Strauss and Marks & Spencer to explore LEO, a blend of lignin and ethanol, as a potential future sustainable shipping fuel.The LEO Coalition, which also includes Copenhagen University, will consider the environmental and commercial viability of LEO fuel for shipping. Shipping accounts for 2-3% of global CO2 emissions, a proportion that is set to increase as global trade continues to grow at a sluggish but steady pace.
Maersk Q2 Beats Expectations Amid Trade War
The world's biggest container shipping company AP Moller-Maersk delivers a 17% increase in earnings before interest, tax, depreciation and amortization (EBITDA) to USD 1.4 bn in Q2 compared to the same quarter last year.Revenue grew slightly to USD 9.6bn, which is on par with last year, and the underlying profit increased to USD 134mln from USD 15mln in Q2 2018.“Q2 was a quarter of solid progress. EBITDA was up 17% and cash flow improved 86% year on year, driven by continued recovery in Ocean,” says Søren Skou, CEO of A.P. Moller – Maersk.
Sea Machines Demonstrates Autonomous Spill-Response Vessel
As a part of its cooperative agreement with the U.S. Department of Transportation Maritime Administration (MARAD), Boston-based Sea Machines Robotics announces that it has successfully demonstrated its autonomous systems in action on board a Kvichak Marco skimmer boat during events held along the Portland harbor earlier today.Sea Machines’ technology opens a new era of capability for the marine industry, and today the company demonstrated its ability to increase the safety, productivity and predictability of response for marine oil-spill operations.
Shipping Sector Sets Course for Zero Carbon
Leading ports, banks, oil and shipping companies on Monday launched an initiative which aims to have ships and marine fuels with zero carbon emissions on the high seas by 2030, in another step by the maritime sector to reduce CO2.International shipping accounts for 2.2% of global carbon dioxide (CO2) emissions and the U.N.'s International Maritime Organization (IMO), has a long-term goal to cut greenhouse gas emissions by 50% from 2008 levels by 2050.Achieving this target will…
Maersk, Koole in Dutch Deal for 2020 Fuel
Maersk’s subsidiary Maersk Oil Trading has teamed up with Dutch liquid bulk storage operator Koole Terminals for the production of IMO 2020-compliant bunker fuel in the Port of Rotterdam.According to a Maersk statement, the production will take place at the Petrochemical Industrial Distillation (PID) unit, located at Koole’s Botlek site in the heart of the Port of Rotterdam. The toll distillation deal allows Maersk to produce VLSFO bunker fuel and will enable Maersk to further…
INSIGHTS: Michael G. Johnson
Sea Machines Robotics CEO & President.Michael Gordon Johnson is a marine engineer, an accomplished entrepreneur and sector leader with a primary goal of building progressive and sustainable innovation for modern society. He is the founder of Sea Machines, a Boston-based tech company that is a leading provider of autonomous control and intelligent perception systems for marine vessels. Johnson earned a marine engineering degree from Texas A&M University before starting a career focused on complex projects in offshore oil and gas, marine transportation and salvage.
Maersk Lifts 2019 Profit Forecast; Shares Rise
Danish shipping company A.P.