Marine Link
Thursday, August 24, 2017

Maersk Tankers Invests in Quantitative Hedge Fund

(File photo: Maersk Tankers)

Maersk Tankers said on Wednesday it has entered into an equity agreement with U.S. hedge fund CargoMetrics, giving it access to analytical models and algorithms to better manage its tanker operations. Maersk Tankers, a unit of shipping group A.P. Moller-Maersk , has invested a "significant" but undisclosed amount in the Boston-based hedge fund, which will give the firm exclusive right to its analytical models, algorithms and capabilities. CargoMetrics links satellite signals, historical shipping data and proprietary analytics for trading purposes in its systematic investment platform.

Fog Lifts as Maersk CEO Remains Upbeat

File Image: The Madrid Maersk, one of Maersk's largest boxships. CREDIT: Maersk

Container shipping fundamentals at best since 2010 - CEO. Denmark's A.P. Moller Maersk gave an upbeat outlook for container shipping on Wednesday, lifting its shares by more than 4.5 percent as investors looked beyond one-off second-quarter charges. Maersk has been hit by low oil prices at its energy arm and sliding prices in its shipping business in recent years due to lacklustre global trade and a glut of available ships for hire. But its chief executive Soren Skou, who has staked his future on Maersk as a transport business…

Maersk to Face Price War

Photo: Maersk Line

A.P. Moller-Maersk's main sea freight business faces the threat of a new price war in a consolidating industry, though the company has been fortified by the $7.5 billion sale of its oil and gas business to France's Total Reuters reported. Maersk, the world's biggest container shipping company, has shifted its focus this year from preserving market share to higher margins, a strategy that was helped by a recovery in freight rates, the report said. Reuters quoted Chief Executive…

Maersk Wants Trade Finance Role

(File photo: Maersk Line)

Maersk Line, the world's biggest container shipper, is venturing into trade finance, as it seeks to fill a lending gap left by indebted banks pulling out of the crisis-hit shipping industry. Moving into traditional bank territory and further down the shipping value chain, Maersk Line, part of A.P. Moller-Maersk, is offering to finance shipments and remove the paper trail from financing deals. Maersk says it has no need to ask for collateral - one of the biggest headaches for banks and customers in trade finance deals - because it is carrying the goods on its vessels.

Munich Maersk Comes to Hamburg

Munich Maersk. Photo: The Maersk Group

While on her maiden voyage, the “Munich Maersk” berthed at EUROGATE Container Terminal Hamburg on 5 August. With a nominal capacity of 20,568 TEU (twenty-foot equivalent unit) the container vessel is one of the largest in the world. The megaship belongs to the second generation of Maersk Line’s well-known Triple-E class and calls Hamburg as part of the AE5 service of the 2M alliance, which connects European harbours with ports in Far East. The “Munich Maersk” was delivered to the carrier in June.

Newbuilding Named at Odense Steel Shipyard

Odense Steel Shipyard presented its latest newbuilding, an 11,000 TEU container vessel, for the A.P. Moller - Maersk Group. Gunilla Nyman, accompanied by her husband, Anders Dahlvig, CEO & President, IKEA Group, honored A.P. Moller - Maersk and the Yard by naming the newbuilding Ebba Maersk. Like her four predecessors, Ebba Maersk will be part of the series of the world’s largest container vessels, and she will like her sister vessels set new standards for safety and environment. Environmentally friendly silicone paint covers the hull of the vessel below the waterline – reducing water resistance and cutting the vessel’s fuel consumption by 1,200 tons per year.

BELCO and A.P. Moller - Maersk Ink Exhaust Gas Cleaning Contract

Demonstration Aboard the Maersk Taurus Containership. Belco Technologies Corporation (BELCO), a wholly owned subsidiary of DuPont, headquartered in Parsippany, N.J., USA, has reached an agreement with A.P. Moller – Maersk, headquartered in Copenhagen, Denmark, to design, manufacture and supply the BELCO advanced marine scrubbing system for demonstration on one of the auxiliary engines aboard the Maersk Taurus. The system will be designed to remain on board as a commercial installation following the successful demonstration. The BELCO Exhaust Gas Cleaning System can be used to reduce SO2 from ship engines and boilers as an economic alternative to using a more expensive low sulphur content fuel when operating in SO2 restricted areas known as emission control area (ECA) zones.

Maersk Reports Q2 Loss, Sees Cyber Attack Bill at $200-$300 Mln

Maersk Chief Executive Soren Skou (CREDIT: Maersk)

Danish shipping group A.P. Moller Maersk reported an unexpected net loss in the second quarter due to terminal and tanker impairment charges, but said it was upbeat on the container shipping outlook. Maersk also said it expected a $200 million to $300 million bill from a June cyber attack that disrupted its container shipping operations for weeks. The company's net loss stood at $264 million, compared with expectations for a $507 million net profit, according to an average of forecasts in a Reuters poll.

HMM’s Cargo Processing at Busan Port Hit Record

Graph: Hyundai Merchant Marine

Hyundai Merchant Marine (HMM) announced that its cargo processing at Busan Port, the largest sea gateway in Korea, has hit a new record. HMM handled 167,018 TEUs of cargo through the port in July, increased by 93 percent year-over-year. HMM has previously set a record of handling over 150 thousand TEUs in Busan Port in April and successfully set a new record of handling over 160 thousand TEUs after just three months. Transit cargo, in particular, has recorded 85,717 TEUs - soaring 133 percent year-over-year.

Total Overtakes Shell in North Sea Production

File Image: a typical offshore North Sea installation (Credit: Craig International)

Majors still control three quarter of output; even after $10 bln of deals, private equity still plays only modest role. French oil major Total has overtaken rival Royal Dutch Shell to become the second-largest producer in the North Sea with its acquisition of Maersk's Norwegian and UK producing assets. The $7.45 billion deal by Total was welcomed by the market, with analysts saying it helped the French company rebalance its portfolio by adding assets in developed countries after going for projects in riskier places such as Iran and Russia.

Maersk to Use Drones to Resupply its Fleet of Tankers

Drones are being tested for inspections across the Maersk Group. Photo: Maersk Group

Global shipping and logistics firm Maersk is looking at ways to use drones for delivering equipment to ships and is planning to conduct a test later this year, after using the technology in January for delivering cookies to a tanker at sea, says a report in PTI. "The company is evaluating ways to expand its use of drones and plans a bigger test later this year," said Markus Kuhn, a supply chain manager at Maersk. In January, the company made a drone fly 250 meters from one of its barges to a tanker and drop off a batch of cookies.

Maersk Line's Innovative Smart Reefers

Image: The Maersk Group

Have you heard about Maersk Line's smart reefers that can listen and talk? Cutting edge technology that reduces risk in customer supply chain, claims Maersk Line. "We’re always looking for ways to improve cargo care on behalf of our customers. As the world’s biggest container shipping company, we play an important role in cold chains all over the world, and our care means your cargo has a safe passage from field to fridge," says a statement in the company website. Innovation is a key element for us in the quest to ensure that the goods arrive in the exact condition intended.

Ice Navigation Training for Maersk Line Officers

Deck officers and captains from Maersk Line have begun a series of ice navigation training courses at Aboa Mare in Turku, Finland. The first course was taught in July, with the rest scheduled to take place during the second half of 2017. The courses fulfill the Polar Code training requirements and are designed according to the particular needs of Maersk Line’s navigating officers, taking into account the Baltic Feeder newbuildings that will be delivered later this year. The Maersk Line officers will receive both Polar Code training as well as knowledge and skills essential to the operation of these newbuildings in ice and winter conditions.

Maersk Tankers to Trial Rotor Sails

Maersk P-Class Illustration with two 30x5 Norsepower Rotor Sails (Photo: Maersk Tankers / Norsepower)

Norsepower Oy Ltd. in partnership with Maersk Tankers, The Energy Technologies Institute (ETI), and Shell Shipping & Maritime, have announced that it will install and trial Flettner rotor sails onboard a Maersk Tankers-owned vessel. The project will be the first installation of wind-powered energy technology on a product tanker vessel, and will provide insights into fuel savings and operational experience. The rotor sails will be fitted during the first half of 2018, before undergoing testing and data analysis at sea until the end of 2019.

Maersk Supply Service Names Karstensen CEO

Steen S. Karstensen (Photo: Maersk)

Steen S. Karstensen has been appointed CEO of Maersk's offshore services arm, Maersk Supply Service, with effect from October 24. Karstensen comes from a position as Chief Procurement Officer and takes over from Jørn Madsen, who was recently appointed CEO of Maersk Drilling, effective November 7. Karstensen joined the Maersk Group in 1986 and has had led a 30-year-career with the company in procurement, logistics, supply chain, in-house consultancy and other cross-functional areas.

Ultra-deepwater Drillship 'Maersk Valiant' Delivered

'Maersk Valiant': Photo Maersk Drilling

Maersk Drilling advises that its second new drillship, 'Maersk Valiant', has been delivered from the Samsung Heavy Industries (SHI) shipyard in Geoje-Si, South-Korea. Maersk Valiant has begun its voyage towards the US Gulf of Mexico via Singapore to commence a two year contract with ConocoPhillips and Marathon Oil Corporation. Maersk Valiant is the second in a series of four ultra deepwater drillships to enter Maersk Drilling’s fleet. The four drillships represent a total investment of US$2.6-bn and will be delivered from the SHI shipyard in 2014.

Skou Appointed CEO of Maersk Line

Søren Skou (Photo: Maersk)

Søren Skou has been appointed new CEO of Maersk Line with effect from 16 January 2012. Søren Skou was previously CEO of Maersk Tankers and replaces Eivind Kolding who is leaving Maersk Line to become Chairman of the Executive Board of Danske Bank. ”Under Eivind Kolding’s skilled leadership, Maersk Line has undergone an impressive turnaround. Its competitiveness has improved significantly and at the same time, Maersk Line has set new standards for the industry with regards to environment and reliability.

The World’s Largest Container Vessels To Call At DCT Gdansk

CT Gdansk, Poland’s biggest container terminal will start handling the largest container vessels in the world from May 2011. Vessels of 15,500 TEU capacity will be calling at DCT Gdansk terminal within Maersk Line AE10 service connecting the Far East and the Baltic Sea. In January 2010, DCT Gdansk already revolutionized the Baltic shipping market when it started to serve the first regular deep-sea calls into the Baltic Sea. Boris Wenzel, DCT Gdansk’s CEO emphasized: “DCT Gdansk is making history for the second time in 16 months, now by welcoming the largest vessels in the world to Gdansk.

Engelstoft Takes Over as Maersk Tankers CEO

Morten Engelstoft

Morten Engelstoft has been appointed CEO of Maersk Tankers with effect from January 1, 2014 following Hanne B. Sørensen’s appointment as CEO of Damco. Morten Engelstoft has also been appointed CEO of Services & Other Shipping which consists of Maersk Supply Service, Maersk Tankers, Svitzer and Damco. Maersk Tankers is one of four businesses in Services & Other Shipping which consists of Maersk Supply Service, Maersk Tankers, Svitzer and Damco. The target for Services & Other Shipping…

APM Terminals Tangier Celebrates 10 years in Morocco

Photo: Maersk Line

APM Terminals Tangier welcomed the Munich Maersk, one of the world’s largest container vessels, as it made its maiden call to celebrate the 10th anniversary of the largest and most modern terminal facility in North Africa. APM Terminals Tangier is one of the most important transfer points of global trade. In addition to handling Moroccan import and export cargo, the terminal manages and transfers cargo for onward destinations in Africa, Latin America and beyond. Tangier's strategic…

Sørensen New CEO of Maersk Tankers

Hanne B. Sørensen has been appointed new CEO of Maersk Tankers.

Hanne B. Sørensen has been appointed new CEO of Maersk Tankers with effect from 13 February 2012. Hanne B. Sørensen has until now held the position as Chief Commercial Officer (CCO) of Maersk Line and replaces Søren Skou, who recently assumed the position as Maersk Line CEO. "Hanne B. Sørensen comes with experience and a strong track record within international shipping. I am therefore very pleased that Hanne has accepted the position as CEO of Maersk Tankers," says Partner and member of the Executive Board Claus V. Hemmingsen.

First Triple-E named Mærsk Mc-Kinney Møller

Ane Mærsk Mc-Kinney Uggla, lady sponsor, christens the ship (Photo: Maersk)

Maersk Line’s newest vessel, the first of the Triple-E series, was named this morning in a ceremony at the Daewoo Shipbuilding & Marine Engineering (DSME) shipyard in Okpo, South Korea. It bears the name of the late Mærsk Mc-Kinney Møller, who passed away in April 2012 at the age of 98. Maersk Line CEO, Søren Skou, began the ceremony by welcoming all the special guests and recounting the important tradition of naming ceremonies in Maersk ever since the first event in 1906 welcomed Peter Mærsk as the second vessel in the fleet.

Marchen Maersk Named at Odense Steel Shipyard

On May 10, Odense Steel Shipyard presented its latest newbuilding, a 7,000 TEU container ship, for the A.P. Moller - Maersk Group. Ingrid Steenstrøm Nielsen, wife of Finn Buus Nielsen, Managing Director, Odense Steel Shipyard, honored A.P. Moller – Maersk and the Yard by naming the newbuilding Marchen Maersk. More than 500 employees and companions from A.P. Moller - Maersk and the Yard were invited to celebrate the event. Marchen Maersk is the second ship in a series of six container ships. The ship is designed and built to meet the highest demands for safe, precise, environmentally friendly and economic transportation of goods all over the globe. Among other things, a waste heat recovery system is installed to optimize the use of the energy produced.

Maritime Reporter Magazine Cover Aug 2017 - The Shipyard Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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