A.P. Moller - Maersk Grows Across the Business
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 Launches Startup Accelerator
AP Moller - Maersk has launched India-focused OceanPro, a 120-day accelerator program to give shipping and logistics startups an opportunity to partner with Maersk to bring innovative technology solutions to ease the global supply chain for customers and further accelerate global digital transformation.“We recognize the immense potential of India’s technology and digital talent and are looking to capitalize on these capabilities to help the logistics industry worldwide, to reinvent itself,” said Søren Skou, CEO, A.P.
Maersk Revenue Up 30% YOY in Q1
In Q1 2018, A.P. Moller - Maersk had a revenue growth of 30% to USD 9.3bn, 10% excluding Hamburg Süd, with growth in all business segments and a strategic transformation well underway. A.P. Moller - Maersk reiterates its expectations for 2018 of an underlying profit above 2017 (USD 356m), however noting increased uncertainties due to geopolitical risks, trade tensions and other factors impacting freight rates, bunker prices and rate of exchange. “In the first quarter of 2018, we reported a 30% revenue growth and the integration of the business is well underway with a successful start to the Hamburg Süd integration and the closing of Maersk Oil transaction in March with an accounting gain of USD 2.6bn.
Maersk Completes Hamburg Süd Acquisition
The transaction between Oetker Group and Maersk Line for Maersk Line's acquisition of Hamburg Süd, the German container line, was closed on 30 November 2017. On 1 December 2016, Maersk Line announced its intention to acquire Hamburg Süd. The acquisition triggered a regulatory approval process in 23 jurisdictions which was successfully concluded on Tuesday 28 November with the approval of the acquisition by the Korea Fair Trade Commission. "With the final approval of the acquisition…
Mærsk Strengthens Executive Board
In line with the strategic direction announced in September 2016 A.P. Møller - Mærsk A/S has made significant progress in focusing the future business on container shipping, ports and logistics. To further accelerate the development of customer oriented end-to-end transportation and logistics solutions the Board of A.P. Møller - Mærsk A/S today announces that it is strengthening the management of the company by appointing the Chief Operating Officer, Chief Commercial Officer as well as the CEO of APM Terminals to the Executive Board.
Maersk Line Stays in Profit
In Q3, the revenue of A.P. Møller - Mærsk A/S’ continuing operations increased by 14% year on year driven by higher freight rates in Maersk Line. The underlying profit was USD 248m, with an improvement of USD 290m in Transport & Logistics and a decline of USD 15m in Energy. For A.P. Møller - Mærsk A/S, the third quarter of the year was a defining quarter of major change, where strong and viable solutions were found for Maersk Oil and Maersk Tankers. Furthermore, today A.P. Møller…
Maersk Line to acquire Hamburg Süd
Maersk Line and the Oetker Group have reached an agreement for Maersk Line to acquire Hamburg Süd, the German container shipping line. The acquisition is subject to final agreement and regulatory approvals. Hamburg Süd is the world's seventh largest container shipping line and a leader in the North - South trades. The company operates 130 container vessels with a container capacity of 625,000 TEU (twenty-foot equivalent). It has 5,960 employees in more than 250 offices across the world and market its services through the Hamburg Süd, CCNI (based in Chile) and Aliança (based in Brazil) brands.
Low Freight Rates Hit Maersk Line
Record low freight rates have driven the World’s largest container carrier Maersk Line to report a second-quarter loss of US$151 million. The second quarter result and revenue both fall year-on-year as average freight rates hit record low levels, despite an internal efficiency drive that reduced its own unit costs by around 15% to an all-time low! The container arm of Denmark’s AP Moller-Maersk has confirmed the Q2 loss is $658m lower than its $507m profit for the corresponding period in 2015. Revenue in Q2 was USD 5,061 million, which is 19% lower than Q2 2015 (USD 6,263 million).
Maersk Line, RUSAL Partner Long-term
Container shipper Maersk Line has signed an agreement of intent with global aluminum producer RUSAL to cooperate within cargo transportation for the long term. Under the agreement, RUSAL and Maersk Line will cooperate with regards to transport of RUSAL’s products, particularly aluminum and alloys. The estimated cargo volume of the agreement may reach 10,000 containers (TEU) per year. The agreement is valid for three years and includes options for further extension. “The signing of this agreement is a confirmation of the mutual intentions to build a long-term strategic partnership between RUSAL and Maersk Line. The aim of the agreement is the joint search for the most optimal logistic solutions aimed at optimizing costs for both parties,” said Vladislav Soloviev, RUSAL CEO.
Maersk Line Names Hahnemann Chief HR Officer
On August 1, 2016, Ulf Hahnemann, current Vice President for Strategic Programs at Mars Inc. will join Maersk Line as Chief Human Resources Officer (CHRO) and be part of the management board of Maersk Line. Maersk Line’s current Chief Human Resources Officer, Michael Chivers, resigned in January 2016 to explore opportunities outside of the Maersk Group. He will leave by the end of May 2016. As of August 1, 2016, Maersk Line’s management board will consist of Søren Skou, Chief Executive Officer; Vincent Clerc, Chief Commercial Officer; Pierre Danet, Chief Financial Officer; Ulf Hahnemann, Chief Human Resources Officer; Jakob Stausholm, Chief Strategy and Transformation Officer; and Søren Toft, Chief Operating Officer.
Maersk Line 1H 2015 Profit Up 22%
Maersk Line reported a first half-year 2015 (H1) result that is USD 220 million higher than H1 2014. This was achieved due to lower costs. Revenue in H1 was USD 12,517 million, which is 6.8% lower than H1 2014 (USD 13,365 million). Volumes were 1.1% higher. The market share that Maersk Line lost in Q1 was regained in Q2, where volumes increased by 3.7% ahead of estimated global market growth of 1-2%. In H1, the Return On Invested Capital (ROIC) was 12.2% and in Q2 the ROIC was 10.1%.
Maersk Orders 11 Triple-E Containerships
Maersk Line announced it has today ordered 11 new ultra-large second generation Triple-E containerships from Daewoo Shipbuilding & Marine Engineering (DSME). Ordered to replace smaller, less efficient ships in the Maersk Line fleet, the new vessels will be the shipper’s largest and are intended to enter Asia - Europe service between April 2017 and May 2018. They will sail under Danish flag. The new building contract, valued at value of $1.8 billion, will see the construction of 11 second generation Triple-E container vessels, with an option for six additional vessels.
Maersk Line Q3 Performance Better
Maersk Line said it has achieved improved results in the third quarter of 2014 (Q3) through lower costs and increased rates. Revenue in Q3 was $7.074 million, as volumes increased by 3.7% to 2.4 million FFE. Maersk Line said its strategy is to grow with the market and the increase is in line with the above 3% market growth. Søren Skou, CEO of Maersk Line, said, “I am very satisfied with the result. Not least our return on invested capital is satisfactory and again above our long-term target of 10%. Our strategy is paying off. We have proven it is the right strategy for us.
Panama Canal Updates Maersk on Expansion
Within the framework of the centennial celebration, the Panama Canal Administrator Jorge L. Quijano received a Maersk Line delegation led by Søren Skou, CEO of Maersk Liner Business, to provide an update on the Expansion Program and discuss the future trends in the maritime industry. Administrator Quijano updated Maersk executives on the progress of the Expansion Program. He said that the plan is underway to ensure that the new locks will be open for transits in the beginning of 2016.
Maersk Line CCO to Leave
Chief Commercial Officer (CCO) Lucas Vos will leave his post as from 1, May 2013. “Lucas Vos has been part of the top management team in Maersk Line for the past five years. He has been an integral part of turning the company around with the ambitious streamLINE programme and lately contributed to the plan of making Maersk Line the most profitable player in the industry”, says Maersk Line CEO Søren Skou and continues: “I would like to take the opportunity to thank Lucas for his efforts and the good collaboration. We are sad to see him go and wish him best of luck.” There is yet no decision of succession, but the process has been initiated. Lucas Vos returns to The Netherlands – as it has been the plan all along – where he will take some time off to consider his next step.
Maersk to Adjust Capacity When Triple-E's Enter Service
Maersk Line intend to take measures to avoid a repetition of the ocean container shipping 'rate wars' of previous years. With a capacity of 18,000 20-foot containers, the Triple-E will be the largest container ship ever built. Maersk acknowledges that the introduction of the new vessels comes at a challenging time, with weak demand putting strains on all carriers. The Triple-E is built for the Asia-to-Europe (AE) service, Maersk Line’s most important trade lane. Volumes on that trade shrank by 5% in 2012, estimates industry analyst Alphaliner, and are expected to grow by only 1% in 2013.
Top Microsoft Man Joins Maersk
Maersk Line hires Stephen Richard Schueler as Chief Commercial Officer, effective as of 27 May, 2013. Richard Schueler, 46, joins Maersk Line from Microsoft Corporation where he was head of global retail sales and marketing. Prior to Microsoft, Stephen was with Procter & Gamble for more than 20 years, developing his sales and management skills in a variety of roles across Europe, South America and Asia before becoming Procter & Gamble’s head of global retail sales. “We are tremendously excited to welcome Stephen to the Maersk Line team as Chief Commercial Officer…
Maersk Line CEO Visits Panama Canal Expansion
Panama City, Panama, May 14, 2013 – Maersk Line CEO Søren Skou visited the Panama Expansion construction site accompanied by Panama Canal Administrator Jorge L. Quijano during his recent trip to Panama. Skou and other Maersk Line executives had the opportunity to see the construction site of the new locks in the Atlantic side, which will allow the transit of Post-Panamax vessels through the Panama Canal. During the visit, Panama Canal Administrator Jorge Luis Quijano updated the delegation on the progress of the expansion program.
Maersk to Cooperate on East-West Trades with MSC
Maersk Line has announced a 10 year Vessel Sharing Agreement (VSA) with Mediterranean Shipping Company (MSC) on the Asia-Europe, Transatlantic and Transpacific trades. The VSA will be referred to as 2M. It replaces all existing VSAs and slot purchase agreements that Maersk Line has in these trades. The VSA will include 185 vessels with an estimated capacity of 2.1 million TEU, deployed on 21 strings. The overall purpose of the cooperation is to share infrastructure (network).
First Triple-E named Mærsk Mc-Kinney Møller
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.
Sørensen 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.
Lloyd’s Register Reports Strong Performance
In his report on the accounts for the year ended June 30, 2008, David Moorhouse, Chairman of Lloyd’s Register, has announced that Group income rose by 19.6% to $893m (2006/07: $747.5m) with a marginal increase in surplus before tax generally in line with the budgeted target. The budgeted surplus for the year allowed for a significant increase in spending on projects and personnel in support of the Group’s medium and long term business objectives. “Following very strong growth in 2007, I am pleased to be able to report another year of strong underlying financial performance in 2008. While the recent global financial chaos had little effect on our results for the year to June 2008, it is clear that next year will pose a significant challenge to the Group.
Maersk Line increases business while reducing CO2 footprint
Maersk Line today published its Sustainability Progress Update for 2013, showing a 3.8 million tonnes CO2 reduction in a year where the business grew 4.1%. “2013 was a good year for Maersk Line – financially as well as in terms of our sustainability performance” says Søren Skou, CEO of Maersk Line. “Our fuel efficiency improvements helped cut CO2 as well as air pollutants like SOx and NOx. In 2013, Maersk Line took delivery of the first four of 20 Triple-E vessels. These vessels will set a new standard for energy efficiency. However, the main driver for the strong CO2 performance was the major overhaul of Maersk Line’s network. One of…