Claus Hemmingsen News

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. Moller – Maersk on becoming the global integrator of container logistics.The Board of Directors acknowledges Claus Hemmingsen’s dedicated and significant contribution to A.P.

A who’s who list of maritime industry executives have signed on to voice their support for a zero-carbon future in shipping.The not-for-profit foundation the Global Maritime Forum brought together a group of 34 CEOs and industry leaders from across the global maritime sector to sign a call for action and lead the industry in a transition toward decarbonization.To achieve this, these leaders believe the maritime industry needs to accelerate both technological and business model innovation…

COPENHAGEN, Feb 20 (Reuters) - Prospects for the offshore oil drilling market are improving but profits for drillers are still under pressure and rates will not rise before 2019, the head of A.P. Moller-Maersk's energy business said. Oil firms have seen cash flow climb in 2017 a high since a three-year slump in crude prices, lifted by their cost-cutting plans and a crude price recovery. Although this has spurred new investment, it has yet to benefit suppliers, such as Maersk,…

A.P. Moller-Maersk's oil industry service companies Maersk Drilling and Maersk Supply Services, are to cut staffing at their Danish head offices due to the slump in oil prices. Oil companies and as a result the firms servicing them, have slashed spending and cut jobs since crude oil prices have fallen by over 50 percent since July last year. Maersk Drilling said on Wednesday it would cut 90 positions, 20 percent of the workforce at its main office, while sister company Maersk Supply Services will cut 30 jobs at its head office, where it employs some 200 people.

Denmark's A.P. Moller-Maersk said on Wednesday it would invest billions of dollars in new ships, reap hundreds of millions in savings and announced valuable contracts for its drilling rigs. But shares of the world's largest container shipping company fell more than 3 percent, partly because it failed to announce any of the initiatives the market had anticipated for its investor day in Copenhagen. Analysts had hoped that Maersk would say it had sold a big oil asset in Angola, which would have cut future capital investments, or unveil an increase in its payments to shareholders.

Maersk Drilling Chief Executive Claus Hemmingsen talked to Reuters on the sidelines of A.P. Moller-Maersk's annual capital markets day. Maersk Drilling has focused on two areas - harsh environment rigs primarily in Norway and deepwater rigs in the Gulf of Mexico and off West Africa. "The deepwater market will be slow, for the rest of 2014 and in 2015. We do believe however it will come up in the mid-term and long-term. "If you go back one and a half years ago, you would say (the day rates would reach) $500,000-600,000, a few above that, but that would be in Angola. "Currently, we're probably talking about $400,000-$500,000 for day rates. "We have actually six rigs out of eight coming out (of shipyards) with very strong contracts.

The head of Maersk Drilling said on Wednesday the A.P. Moller-Maersk unit has won a two-year extension for its Maersk Deliverer deepwater rig worth $387 million. Maersk Venturer, a new rig set to be delivered this year, had also won a letter of award for a short-term contract in South East Asia, Maersk Drilling Chief Executive Claus Hemmingsen told Reuters during a capital markets day. Such an award means the parties have agreed to a deal but are yet to hammer out details such as day rates.   Reporting by Sabina Zawadzki

The global offshore drilling market's dip could be longer than previously expected and charter rates could take until 2017 or 2018 to recover to last year's levels, the head of Maersk Drilling said on Thursday. Oil groups continue to delay projects to save cash and rig rates will fall further just as a slew of new vessels ordered during the boom years start to hit the water, said Claus Hemmingsen, the CEO of Maersk Drilling, part of Danish shipping conglomerate A.P. Moller-Maersk. "With every quarter that goes by with next to no new projects sanctioned and next to no new deepwater rigs contracted, the recovery is pushed out a little bit," Hemmingsen told Reuters. Analysts at Barclays say that 13 newly built floating rigs due to enter the market this year are still without contracts.

The current slowdown in offshore oil and gas drilling will last 12 to 18 months, and the market for rigs will rebound in 2015, Maersk Drilling said, providing a more optimistic forecast than other drilling firms. Oil companies are only delaying projects, Claus Hemmingsen, the chief executive of Maersk Drilling, a unit of Danish shipping conglomerate A.P. Moller-Maersk, told Reuters on Friday. "I would rather call it a short-term softness than anything dramatic," Hemmingsen said in a telephone interview. Activity in the deep waters off West Africa and Brazil will suffer the most, he said. Other drilling companies have warned that the market could be slow for the next two years as oil majors delay projects and cut capital expenditure to save cash for dividends…

Denmark's Maersk Drilling will invest up to $8 billion to buy seven new oil rigs by 2017, undeterred by waning global energy demand The drilling unit of A.P. Moller-Maersk plans to place the first order within the second half of 2013 as part of its campaign to double its fleet to 30 over the next five years, says a Reuters report by Randy Fabi. "We are pursuing this plan despite the world economic situation. So far, we haven't found a reason to change," Claus Hemmingsen said during a visit to the company's office in Singapore. Oil production is moving deeper offshore with untapped reserves found further and further from the coasts of the United States, West Africa, Brazil and Asia, keeping demand strong for rigs owned by Maersk Drilling, Transocean  and others.