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.
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…
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…
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…
India to Probe Alleged Antitrust Behavior by Maersk, DP World at Mumbai Port
India's antitrust regulator has ordered a probe into alleged anti-competitive practices by Denmark's A.P. Moller-Maersk and Dubai's DP World at the terminals they operate at the country's largest container port in Mumbai, five sources familiar with the matter told Reuters.The decision by the Competition Commission of India (CCI) to investigate follows a complaint by Singapore's PSA International Pte Ltd, which alleged that Maersk and DP World created entry barriers to hinder the growth of PSA's terminal by colluding on certain charges they levy at the state-owned Jawaharlal Nehru Port Trust (JNPT).Handling 66 million tonnes of cargo in the last fiscal year to March, JNPT is critical to India's international trade.
Maersk Warns Trade War Will Impact Box Shipping
Top U.S. importers are stocking up on Chinese goods before new import tariffs take effect, shipping giant A.P. Moller-Maersk said on Wednesday, but warned a trade war would hit demand for container shipping in the coming years.Maersk's data indicated that imports into the United States from China had grown 5 to 10 percent year-on-year in the third quarter as companies such as Walmart and Home Depot built up inventories to avoid new import tariffs, Chief Executive Soren Skou said."The irony is that after (U.S.
Maersk Ousts Danske Bank Chairman after Scandal
Danske Bank's largest shareholder, the Maersk family, has ousted the lender's chairman after a money laundering scandal that has also forced out its chief executive.A.P. Moller Holding, which controls about 21 percent of the share capital in the bank, has nominated Karsten Dybvad, who currently heads the Confederation of Danish Industry, to replace Ole Andersen as chairman of Denmark's largest bank.The move is a rare example of Denmark's Maersk family, which controls shipping giant A.P. Moller-Maersk through A.P. Moller Holding, openly flexing its muscles to seek change at one of its investments."Danske Bank requires new leadership and changes to its board to strengthen its position as a leading Nordic bank," Robert Uggla, chief executive of family-owned A.P.
Maersk Leases Singapore Oil Storage Ahead of IMO 2020
Maersk Oil Trading has leased oil storage space in Singapore, signalling a push by one of the world's biggest ship fuel buyers into the Asian bunkering hub ahead of changes to global fuel standards from 2020, trade sources said.Maersk Oil has taken storage at the Tankstore oil terminal in Singapore, a spokesman for parent A.P. Moller-Maersk told Reuters, without giving further details.The firm has leased 120,000 cubic meters of space for fuel oil for six months, said three trade sources with direct knowledge of the matter.
Maersk Tests Russian Arctic Route
The Danish-flagged cargo ship Venta Maersk, owned by the world's biggest shipping group A.P. Moller-Maersk, has successfully passed through the Russian Arctic, in a trial voyage showing that melting sea ice could potentially open a new trade route from Europe to east Asia.Palle Laursen, the chief technical officer of A.P. Moller-Maersk saying that the cargo vessel has made the journey as a one-off trial. “The trial allowed us to gain exceptional operational experience, test vessel systems…
Maritime Ports Pushed to Up Cyber Security
Resilience planning, Info Sharing Take Spotlight“Oh what a tangled web we weave, when first we practice to deceive.” That old chestnut gets turned on its head when it comes to port cyber security. It’s more like “Oh what a tangled web we’ve woven, so much harder to stop data stolen.”Ports today have the physical aspect of security pretty well nailed shut - gates, locks, fencing, alarms, cameras, drones, etc. As Chris Mason, Rajant Corp.’s director of sales for EMEA, notes, “Every…
Maersk to Install Scrubbers on Select Vessels Ahead of 2020
A.P. Moller-Maersk, the world's biggest container shipping group, will add devices to reduce harmful exhaust emissions to some of its ships ahead of new global fuel regulations starting in 2020.To combat air pollution, the International Maritime Organization (IMO), the United Nations' shipping agency, has set global regulations to cap the sulphur content in marine fuels, known as bunkers, at 0.5 percent down from 3.5 percent now.Shipowners could meet the new regulations by installing sulphur-stripping exhaust cleaning systems…
Sea Machines Moves to Larger, Waterfront Location in Germany
U.S. based Sea Machines announced that it has moved its team in Hamburg, Germany to a larger waterfront work space in the Hammerbrook area.The company said the move supports growing in interest in its autonomous controls and advanced perception technology in European markets ahead of an upcoming product release. The new location more than triples the space Sea Machines had previously and provides dockage for the company's test vessels. The space also accommodates the locally expanding team…