Nils Andersen News

The board of BP plc announced that it has appointed Nils Smedegaard Andersen as a Non-Executive Director with immediate effect; as well as serving on the Board he will join the Audit Committee. Andersen was Group Chief Executive of A.P. Møller - Mærsk A/S until 2016 and had previously been President and Chief Executive Officer of Carlsberg A/S and Carlsberg Breweries A/S. Carl-Henric Svanberg, Chairman of BP, said: “I am delighted to welcome Nils Anderson to the BP Board. Nils brings broad experience from the energy, shipping and consumer goods industries. Nils S. Andersen, 58, was Group Chief Executive of A.P. Møller - Mærsk from 2007 to June 2016.

New AP Moller-Maersk chief executive Soren Skou is aiming for revenue growth according to an interview with the Financial Times. He reveals the task ahead after succeeding Nils Andersen. Danish conglomerate boss said that the group was buffeted by short-term “headwinds” in all of its businesses — from the world’s largest container shipping line to oil production and drilling rigs. “In the long term, we are challenged on top-line growth. Obviously, for us it’s important that we have a group that is both profitable but also has a growth path … If you have a business that isn’t growing the top line, it’s very hard to deliver attractive returns to shareholders,” said  Skou, who is also head of Maersk Line, the group’s container shipping unit.

Nils Smedegaard Andersen chief executive officer of A.P. Moeller-Maersk A/S said the Container volumes have picked up this year after the market suffered from sluggish growth and overcapacity in 2015, reports Bloomberg. He said 2016 beginning looked a little bit better and expected the Asia to Europe business to develop better this year. Maersk’s container line, the world’s largest, suffered last year from a toxic cocktail of too many vessels just as global trade sagged. While the industry still needs to address overcapacity, the demand side looks better, Andersen said. In 2015, Nils Andersen was expecting another year of about 3% to 4% demand growth. Instead, it came in at 1.

Nils Smedegaard Andersen, chief executive officer at A.P. Moeller-Maersk qoted by Bloomberg as saying: "We believe that global growth is slowing down. The world's biggest shipping line conducts a string of its own macro-economic forecasts and it sees less growth - particularly in developing nations, but perhaps also in Europe - than other people expect in 2015, Andersen said. His company is a bellwether for global trade, handling about 15 percent of all consumer goods transported by sea. According to Andersen, the current operating environment is characterized by slow growth, but the real concern to be taken into account should be the overcapacity in the shipping market and slower than expected market growth.

Though the Danish conglomerate AP Møller-Maersk posted higher-than-expected earnings, it has cut its forecast for global trade growth and abandoned several medium-term profit forecasts, as per a report in FT. Maersk overcame low oil prices and freight rates in its container shipping business to post a 7 per cent fall in underlying net profit in the second quarter at $1.1bn, which was well ahead of analysts’ expectations of $820m. The world’s biggest container-shipping operator by capacity adapts to persistently low crude prices and stiff competition in the cargo market. It suffered a loss of market share in the first quarter amid growing price competition. Afterward, the company decided to price more dynamically to fight back.

The WSJ reports that the Danish container-shipping group is ordering more megaships even as freight rates remain low. Reason? The world’s biggest container-shipping companies are set to dominate seaborne trade over the next few years, leaving little space for small and midsize operators to compete. This opinion was expressed by A.P. Møller-Mærsk A/S Chief Executive Nils Andersen. Maersk Line, a unit of the Danish shipping and oil giant, is the world’s largest container operator, controlling 15.3% of all capacity, according to shipping data provider Alphaliner. Maersk has placed $1.8 billion order this week for 11 new megaships that will be able to carry 19,630 containers each and will be deployed in the Asia-to-Europe trade loop.

Maersk Line lost market share in container shipping in the first quarter, disappointing analysts who said A.P. Moller-Maersk's  forecast-beating results on Wednesday had been helped by one-offs. While the world's largest container shipping business reported a jump in net profit to $714 million from $454 million, due largely to lower bunker fuel prices, analysts noted the Danish conglomerate failed to announce divestments or investor perks such as share buybacks and additional dividends, as it had in recent quarters.

Maersk Group is committed to support the expansion of the Port of Tema to the tune of US $1.5 billion, says Nils Smedegaard Andersen, Chief Executive Officer of Maersk Group. Maersk will also contribute its quota in the US$6 billion oil exploration work to be undertaken by Italian firm Eni Exploration in Ghana. Nils  called on the President of Ghana John Dramani Mahama to extend the group's support to expand the Port of Tema to nearly four times its existing capacity in addition to increasing current road infrastructure including the development of the motorway to a 6-lane. The CEO of Maersk Group said that the funding arrangements for…

Nils Andersen,  chief executive  of AP Møller-Maersks, has warned that global trade will never return to scorching pre-crisis growth rates, in part because western companies are looking to manufacture more goods closer to home, says a report in the Financial Times. The chief executive of the world’s biggest shipping group said that many of the world’s most important trade routes were suffering from a crippling over capacity because shipping lines were holding out in vain for the return of a pre-crisis golden era, which had been fuelled by spectacular growth in Asia and Latin America. He sounded a cautiously optimistic tone about the company’s prospects in the face of falling oil prices.

Danish shipping and oil group A.P. Moller-Maersk's third-quarter net profit beat expectations, boosted by a strong performance at its container shipping business Maersk Line. Net profit rose 25 percent to $1.5 billion compared with the same period last year, Maersk said on Tuesday, beating an average forecast of $1.38 billion in a Reuters poll of analysts. It stuck to its forecast for an underlying profit for the full year of around $4.5 billion, but raised its net profit forecast for Maersk Line - the world's largest container shipping company - to above $2 billion from a previous forecast of "significantly" above $1.5 billion. The group said its improved results were due to strong performances at its main units of Maersk Line, Maersk Oil and port operator APM Terminals.

AP Moller-Maersk CEO, Nils Andersen, delivered the keynote at today’s Danish Maritime Days forum in Copenhagen where he offered several keys to enhancing the maritime sector on a worldwide scale. Andersen called the ship purchasing market attractive for investors, but said the industry is relatively unattractive when comparing its returns to those of other global markets. Though Maersk expects container volume growth near 4.5% per year, Andersen explained that these figures will not be achieved by adding ships to an already overcrowded market.

U.S. regulatory approval of a proposed shipping alliance involving AP Moeller Maersk should be a formality, the Danish company's chief executive said on Wednesday. The alliance between Maersk and Swiss-based Mediterranean Shipping Co (MSC), the two largest container shippers in the world, will run 185 shared vessels on the trans-Atlantic, trans-Pacific and Asia-Europe routes, critical paths in global trade. The deal, known as 2M, was struck after a previous planned tie-up between Maersk, MSC and France's CMA CGM was undone by China's opposition, despite gaining clearance from the U.S.

Team Niinivirta, a Finnish family-run transportation firm, turned 60 this year, but its third-generation managers now don't know if the business will see Christmas, because of Russia's new ban on European food imports. The firm based in Kotka, on the Gulf of Finland opposite Saint Petersburg, was using its 12 refrigerated trucks to ship 80 loads a month of Finnish milk products to Russia. But the ban on imports of dairy products, fruit, vegetables, meat, and fish from Europe has brought work for Niinivirta and similar specialist local truckers to a near standstill.