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Us Csx Corp News

27 Aug 1999

Moeller Says '99 Shipping Profits To Be Up From Last Year

A.P. Moeller - parent of the world's leading container shipping company Maersk Line -announced last week that full-year 1999 operating profit on shipping activities would exceed last year's. In January-June, this line of the profit and loss account showed a profit of $196 million, up from $154 million in the same period a year ago. Shipping accounted for 89 percent of the group's turnover and 53 percent of operating profit. "For container services the result was at the level of that of the first half of 1998. Overall freight volumes increased," an A.P. Moeller representative said. The shipping business's full-year 1999 net profit, including the group's customary transfer of part of its oil surplus to the accounts of the shipping companies…

13 Dec 1999

Maersk Cements Position As Leading Container Line With Takeover

A.P. Moeller's container line Maersk completed its $800 million takeover of U.S. CSX Corp.'s SeaLand container line, Moeller officials said. The acquisition cemented Maersk's position as the world's leading container line, with a fleet of some 250 vessels with a combined capacity of 600,000 teu. Analysts say Maersk-SeaLand is twice as big as world number two, Evergreen Marine Corp. Ltd. of Taiwan.

29 Dec 1999

AP Moeller Shares Fly High In '99

Danish shipping and oil group A.P. Moeller shares surged 95 percent in 1999, bolstered by a 150 percent rise in crude oil prices and improved freight rates, and analysts predict solid profits in 2000 along with more takeovers. Earnings per share (EPS) for D/S 1912 is expected to climb to 2,762 crowns this year and rise a further 24 percent to 3,424 crowns next year, with D/S Svendborg seen reaching 3,880 crowns in the current fiscal year and 4,917 crowns in 2000. Moeller's Maersk container liner bought two of its competitors in 1999, South African Safmarine Container Lines in February and U.S. CSX Corp's Sea-Land in July, cementing its position as the world's leading container liner.