Container Shipping Firms Brace for Coronavirus Hit
Leading container shipping firm A.P. Moller-Maersk scrapped its 2020 earnings forecast on Friday, while rival Hapag-Lloyd warned of slowing growth until at least June, as the coronavirus pandemic takes a heavy toll on global tradeThe container shipping industry, a bellwether for international trade, has been blown off course by the new virus, which brought parts of China to a standstill before spreading around the world, leading container lines to re-route cargoes and reduce calls to Chinese ports.Despite lower volume growth…
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)
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…
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…
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…
Maersk Lifts 2019 Profit Forecast; Shares Rise
Danish shipping company A.P.
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.
Denmark backs Britain's Hormuz Naval Plan
Denmark said on Friday it welcomed a British government proposal for a European-led naval mission to ensure safe shipping through the Strait of Hormuz and would consider a military maritime contribution.Britain has sought to assemble the mission in Hormuz, used by tankers carrying about a fifth of the world's oil, following Iran's seizure of a British-flagged ship in what London said was an act of "state piracy".The initiative won initial support from Denmark, France and Italy…
Maritime Cyber Alert
For some years now, the maritime sector has experienced breaches of various computer and information technology (IT) systems. Primarily, these breaches have been collateral damage. The maritime sector has almost never been the intended target. That does not mean that the damage has been minor. In June 2017, A.P. Moller-Maersk suffered a major cyber-attack. The malware had been designed by Russian hackers to disrupt the Ukrainian power sector. Once released, though, it proved to be indiscriminate, infecting IT systems worldwide that had not been kept up to date. In the case of A.P.
Maersk Explores Arctic Shipping Route with Russia
Shipping group A.P. Moller-Maersk said on Friday it is in talks with Russia's state-owned icebreaker operator to send more goods via the Arctic, which is becoming more accessible as climate change reduces the sea ice.Russia has made developing the so-called northern sea route (NSR) - which requires new ports and heavy icebreakers to move goods - a priority, with supporters dubbing the route the northern Suez Canal.Last summer, Maersk carried out what it said was a one-off trial…
Sea Machines, Hike Metal to Collaborate on SAR Autonomy
Boston-based Sea Machines Robotics announced today a new partnership with Hike Metal, a world-class manufacturer of workboats based in Ontario, Canada, to integrate Sea Machines’ SM300 autonomous vessel control system aboard commercial vessels tasked with search-and-rescue (SAR) missions.The collaboration will help develop and demonstrate the capabilities of autonomous marine technology for the purposes of increasing the productivity and safety of SAR operations. Once installed…
Sea Machines Hires Black as Vice President
Sea Machines Robotics has announced that it has hired Don Black as vice president of sales and marketing, reporting to Founder and CEO Michael G. Johnson. Effective immediately, this new position gives Black responsibility for the company’s global sales of Sea Machines autonomous-command and remote-control products for commercial workboats. He also has special oversight for supporting the development of the company’s advanced perception and navigation assistance technology for commercial ships and vessels, currently being trialed aboard an A.P. Moller-Maersk container ship.
Sea Machines Names Don Black as VP
Boston-based developer of autonomous vessel technology, Sea Machines Robotics has hired Don Black as vice president of sales and marketing, reporting to Founder and CEO Michael G. Johnson.Effective immediately, this new position gives Black responsibility for the company’s global sales of Sea Machines autonomous-command and remote-control products for commercial workboats.He also has special oversight for supporting the development of the company’s advanced perception and navigation assistance technology for commercial ships and vessels, currently being trialed aboard an A.P.
Maritime Autonomy: The Reality
While merriam-webster.com is succinct in its definition of ‘autonomous’, ask 10 people in the maritime sector what ‘autonomous’ vessel means to them and the responses vary widely. Achieving autonomous, unmanned operations is not high, today, on the agenda of many (if any) shipowners. What does command their attention? Building ships that are increasingly ‘smart,’ with integrated, connected systems that take on additional decision-making processes while helping to reduce crew size (and cost)…
Maersk Mulls Trade Financing Growth in India
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.
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.
Shipping Recovery Boosts Hapag-Lloyd's Earnings
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.
Moody's Downgrades 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…
Maersk Shares Fall on Trade War Fears
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…
Maersk Drilling Mulls Listing in Recovering Market
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…