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Wednesday, December 12, 2018

Maersk News

Norway to Drillers: Fix Oil Rig Lifeboat Safety

File Image / AdobeStock © xmentoys

Norway's Petroleum Safety Authority (PSA) has told Transocean, Maersk Drilling and Odfjell Drilling to beef up emergency evacuation equipment and procedures on offshore oil rigs, it said on Wednesday.Drilling rigs are equipped with enclosed lifeboats that can be dropped into the ocean in an emergency and owners must meet a series of technical and operational requirements for how to plan and carry out evacuations."All the audits identified a nonconformity from the regulations.

Ship Recycling Transparency Initiative Launched

Pic: Ship Recycling Transparency Initiative

Industry leaders and non-profit the Sustainable Shipping Initiative announced the launch of the Ship Recycling Transparency Initiative’s (SRTI) online platform - a tool for sharing information on ship recycling to drive responsible practice.According to a press release, the platform comes nine months after a group of shipping companies first announced their collective effort to use the market-drivers that transparency brings to make responsible ship recycling the norm. Demanding transparency holds the shipping industry to account…

Moody's Downgrades Maersk

Image: 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 to Cut Carbon Emissions to Zero by 2050

Søren Toft, Chief Operating Officer at A.P. Moller - Maersk. Photo: Maersk Line

The world's largest container shipping company A.P. Moller -Maersk has pledged to cut net carbon emissions to zero by 2050.The Danish business conglomerate with activities in the transport, logistics and energy sectors said in a press note that to achieve this goal, carbon neutral vessels must be commercially viable by 2030, and an acceleration in new innovations and adaption of new technology is required.Climate is one of the most important issues in the world, and carrying around 80% of global trade, the shipping industry is vital to finding solutions.

Interview: Admiral Karl Schultz, Commandant, United States Coast Guard

Coast Guard Commandant Adm. Karl Schultz visits with Coast Guard crews stationed in
New York City. U.S. Coast Guard photo illustration by Petty Officer 1st Class Jetta Disco.

Maritime Reporter & Engineering News was offered the opportunity to interview Admiral Karl Schultz, the 26th Commandant in the history of the United States Coast Guard, in his office in Washington, DC. Just five months into his tenure, his plate is predictably full with a number of challenges, including: Attracting and retaining future U.S. Coast Guard personnel; addressing a number of assymetric threats, including cyber attacks; and ensuring captial and operating budgets are adequate to safely and efficiently carry out a global mission envelope, to name but a few.

Hyundai Merchant Marine to Say Good Bye to 2M Alliance?

Image: Hyundai Merchant Marine

South Korea's largest shipping firm Hyundai Merchant Marine (HMM) is likely to part ways with the 2M Alliance which will expire in April 2020 and join  a new ocean alliance said a local media report.According to a report in Business Korea, the 2M Alliance (consists of Maersk Line and MSC) is disadvantageous to HMM as it is not a full member of the alliance. HMM's status fell as the 2M Alliance inked a partnership deal with Israel's Zim Integrated Shipping Services, the report…

MSC Sees Over $2 bln in Annual Fuel Costs from IMO Rules

Photo: MSC

Swiss-headquartered MSC expects to pay over $2 billion a year in fuel costs due to tougher global marine fuel rules and will introduce a bunker charge next year to recoup expenses, the world's number two container line said.UN agency the International Maritime Organization (IMO) will prohibit ships from using fuels with sulphur content above 0.5 percent from Jan. 1, 2020, compared with 3.5 percent today, unless they are equipped with exhaust gas cleaning systems, known as scrubbers…

Maersk Rosyth Completes 1,000 Voyages with ExxonMobil

Maersk Rosyth. Photo: Maersk Tankers

Maersk Rosyth, the Handysize vessel, has been on time charter with an ExxonMobil marine affiliate for 15 years and has recently completed her 1,000th voyage, demonstrating Maersk Tankers' long-term relationship with the customer."A voyage Maersk Rosyth has done 1,000 times over the past 15 years, Rotterdam to Port Jerome and back, as part of a time charter agreement between an ExxonMobil affiliate and Maersk Tankers," said a press statement from the oil tanker company.A time charter agreement commenced in 1999 and since then…

Philippine's Batangas Port Hits Record Cargo Volume in November

Pic: ATI

The Batangas International Port or locally known as the Batangas Pier in Philippines said that  Batangas Container Terminal (BCT), managed by listed Asian Terminals Inc.(ATI), has continuously stepped up its role as international trade facilitator in Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon) and has effectively helped decongest Metro Manila roads.Early in November, BCT achieved a new operations milestone as it broke through the 200,000-TEU (twenty-foot equivalent…

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.

Global Container Trade Lost Momentum in Q3: Maersk

Svitzer tugboat Hermod outside Maersk headquarter at Esplanaden in Copenhagen, Denmark. Photo: Maersk Line

Global container trade continued to lose momentum in Q3 2018, with growth down to around 2.7% compared to Q3 2017, said A.P. Moller - Maersk in its Q3 interim report.Year-to-date, global container trade has increased by 4.2% compared with the same period last year, a much slower pace of growth than the 5.8% recorded in 2017 Container trade remained fairly weak on the EastWest trades, growing by 1.9% in Q3.Growth was driven by European imports from Asia of 2.3%, refl ecting descent…

Five Container Shipping Gaints Form Digital Collaboration

Image: Mediterranean Shipping Company

Five container shipping companies - MSC, A.P. Moller – Maersk, CMA CGM, Hapag-Lloyd, and Ocean Network Express -  intend to create an association with the purpose of paving the way for digitalization, standardization and interoperability in the container shipping industry.IT executives from the shipping groups are currently discussing the creation of common information technology standards which shall be openly available and free of charge for all stakeholders of the wider container shipping industry.“It’s in the customers' and all stakeholders’ best interest…

A.P. Moller - Maersk Grows Across the Business

Photo: Maersk

In the third quarter of 2018, A.P. Moller - Maersk progresses in the strategic business transformation, reporting growth in both Ocean and non-Ocean with a total revenue increase of 31% to $10.1bn, 12% excluding Hamburg Süd. Growth in non-Ocean was at 15%, which now contributes 31% of total revenue. In addition, synergy effects were realized.“Well into our transformation, we are progressing with the integration of our business to better serve customers and unlock the full growth potential within Logistics & Services.

Maersk Warns Trade War Will Impact Box Shipping

Maersk Chief Executive Soren Skou (CREDIT: Maersk)

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.

AP Moeller Maersk Q3 EBITDA seen up 12 pct; Analysts Weigh In

file Image: CREDIT Maersk

AP Moeller Maersk third-quarter results are due on Wednesday, November 14th. The Q3 operating profit is forecast to be $371 million.A poll of forecasts for the Danish shipping group is emerging. Of the eight analysts who disclosed their recommendation on the AP MOELLERMAERSK stock, one answered Positive, six Neutral and one Negative. The following brokerages and investment banks participated in the poll:Handelsbanken Capital: UnderweightSydbank: HoldEquita SIM: HoldDrewry: HoldClarksons…

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.

Regulatory Reform: Good Ideas … Ready to Start?

Image credit: USCG / Anthony Soto

Regulatory reform is one of President Trump’s priority agenda items. Upon taking office, the President issued a number of Executive Orders focusing attention and demanding action on the myriad of regulations impacting American businesses.Last May, the reform spotlight fell on maritime regulations when the White House Office of Management and Budget (OMB), published a Request for Information (RFI) on how the government should “prudently manage regulatory costs imposed on the maritime sector.” OMB…

Fitch Warns: Shippers' Costs and Capex may Increase

Image: Port of Hamburg

More stringent fuel regulations regarding sulphur content could significantly increase global shipping companies' operating costs and capex needs, says Fitch Ratings in a new report."This may negatively affect their credit quality unless they manage to pass these costs to customers. Many shipping companies have started implementing fuel surcharges to recover costs associated with the new sulphur cap regulation, but their ability to sustain these will depend on market fundamentals…

NZ Harbour Welcomes its Largest Container Ship

Image:  Lyttelton Port Company Limited

The largest Port in the South Island of New Zealand, Lyttelton Port, has welcomed its largest ever container ship.The Singapore–flagged Rio de Janeiro, which can carry nearly 6000 containers and is the length of about three rugby fields, arrived early Saturday.Lyttelton Port Company (LPC) Chief Executive, Peter Davie said, “The Rio de Janeiro is a new class of ship to call at Lyttelton. She can carry 5,905 twenty-foot equivalent containers (TEUs), while the largest container vessels currently visiting Lyttelton commonly carry 4…

Kleven Delivers Anchor Handler for Maersk

(Photo: Olav Thokle Fotomaritim / Kleven)

Nowegian shipbuilder Kleven has delivered the fifth vessel in a series of six anchor handlers for Maersk Supply Service A/S.Built for deepwater operations, Mærsk Mobiliser of the so-called Starfish series is equipped with a range of innovative features, the builder said. The vessel is of Salt 200 design and has an open deck space of more than 800m2, with an additional covered deck space of 102m2. It is equipped with a 450-metric-ton anchor handling winch housed in an enclosed garage to protect the crew and the equipment in harsh conditions.

Maritime's Push Toward "Net Zero Carbon"

IMO’s 2050 deadline to reduce GHG emissions 50% from 2008 levels has set off a gold rush to develop Zero Emissions SolutionsClimate change is the biggest issue facing [all aspects of] the maritime industry, said Kitak Lim, IMO secretary general, in an interview earlier this year with Maritime Reporter & Engineering News. He predicted that shipping could experience as much change in the next 10 to 20 years as it has in the last 100 years, as the industry races to meet a number of challenges…

New Maritime Fuel Rules: Industry Frets About Cost, Strategy, Supply

© Igor Groshev/AdobeStock

There are studies and reports from classification societies, scientific organizations and governmental agencies assuring maritime industries that carbon-heavy fuel is peaking and will be replaced by 2050, if not by 2035, with zero carbon power alternatives. No question, they chorus, shipping can meet the IMO goals of a 50% reduction in 2008 levels of GHS by 2050.But as the hot breath of various deadlines bear down upon them, with the 2020 sulfur cap in the forefront, ship owners…

Ship Financiers Toughen Stance on CO2 Emissions

File Image / Adobstock © 14ktgold

Leading shipping finance banks have joined industry players in support of faster action to cut carbon emissions by the sector.In April, the United Nations shipping agency reached an agreement to reduce CO2 emissions by at least 50 percent by 2050 compared with 2008 levels, which fell short of more ambitious targets.The UN's International Maritime Organization (IMO) is meeting in London this week to work on an initial strategy on cutting greenhouse gas emissions.In the meantime…

Maritime Reporter Magazine Cover Nov 2018 - Workboat 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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