Svitzer Names Kasper Friis Nilaus CEO
Towage operator Svitzer announced its Board of Directors has appointed Kasper Friis Nilaus, VP and current Managing Director (MD) of Svitzer Europe, to succeed Henriette Thygesen as global CEO of Svitzer A/S, effective June 15.Going forward, Nilaus will continue to report to Thygesen in her capacity as CEO of Maersk Fleet and Strategic Brands. Svitzer A/S remains a fully-owned AP Moller-Maersk company.Nilaus joined Svitzer as Business Development Manager in 2007 and has since held various global and regional positions within commercial and general management…
Maersk Profits Up 23%, Demand Slowdown Expected
Shipping group A.P. Moller-Maersk warned of a sharp drop in global container volumes due to the coronavirus pandemic, with weaker retail sales and depressed car production dampening demand.The crisis has thrown the container shipping trade off balance as supply chains have been upended and businesses and factory activity in China and later across the world was disrupted.Maersk, which also reported a 23% rise in first-quarter core profits on Wednesday, now expects global container demand to contract this year…
Operators Warn of Congestion at Indian Ports
Singapore's PSA International and Indian container freight operators have warned the Indian government that its order to waive container storage charges during the coronavirus lockdown could lead to port congestion, letters seen by Reuters showed.India's Ministry of Shipping asked ports to allow free storage of containers as part of relief measures to ease pressure on companies hit by logistics restrictions because of India's nationwide lockdown.PSA's local unit in a letter to the government on April 24 said importers might not remove their containers from ports due to free storage…
Container Shipping Firms Brace for Coronavirus Hit
Leading container shipping firm A.P. Moller-Maersk scrapped its 2020 earnings forecast on Friday, while rival Hapag-Lloyd warned of slowing growth until at least June, as the coronavirus pandemic takes a heavy toll on global tradeThe container shipping industry, a bellwether for international trade, has been blown off course by the new virus, which brought parts of China to a standstill before spreading around the world, leading container lines to re-route cargoes and reduce calls to Chinese ports.Despite lower volume growth…
Maersk to Raise HSFO Bunker Fuel Consumption to 25%
Danish shipping group A.P. Moller-Maersk plans to raise the proportion of high sulphur fuel oil it consumes from 10% to 25% by the year-end, CEO Soren Skou says.The world's largest container shipping firm consumed a total of around 11.80 million tonnes of shipping fuel last year.Maersk's current shipping fuel use comprises of around 10% ultra low sulphur (0.1%) fuel oil, 10% high sulphur fuel oil and the remaining 80% is low sulphur fuel oil. (Reporting Stine Jacobsen and Shadia Nasralla. Writing by Ahmad Ghaddar; editing by David Evans)
Maersk to Buy U.S. Warehousing and Distribution Firm
Danish shipping group A.P. Moller-Maersk said on Wednesday it had agreed to buy U.S. warehousing and distribution firm Performance Team as part of plans to deliver more customized logistics solutions.Maersk said the the value of the deal is $545 million, including lease liabilities of around $225 million.The world's largest container shipping firm aims to boost its earnings from its inland logistics operations, or non-ocean business. In 2018, the ocean transport business accounted…
COA Elects Chairman and Vice-Chairman
Container Owners Association's Board of Directors have elected Uffe Ernst-Frederiksen, Head of Cargo Management, AP Moller-Maersk, to the position of COA Chairman, effective January 1, 2020. He takes over from Brian Darnowski, Senior Vice-President – Operations, Triton International Ltd, who has completed his 3-year term of office.The COA Board has also elected Paul Johnescu, Vice-President, Facilities & Equipment Engineering, Matson Navigation Company, as the Organisation’s Vice-Chairman.
APM Sells Rotterdam Terminal to Hutchison
The Netherlands-based terminal operator APM Terminals, a subsidiary of Maersk Group, has signed a letter of intent for the sale of APM Terminals Rotterdam to Hutchison Ports, owner of the adjacent ECT Delta terminal.The complete transfer of shares is based on the agreement that, in the short term, APM Terminals Rotterdam will continue to exist as an independent organisation with a 5-year volume guarantee from parent company, A.P. Moller-Maersk and no forced redundancies within 4 years of signing the agreement.Under the ownership of Hutchison Ports…
Vado Gateway Container Terminal Opened
The international container terminal operating company APM Terminals (APMT) said it has opened a new container terminal in Vado Ligure, on the Italian Riviera, which will be capable of handling 900,000 TEUs of containerized cargo.APMT has a 50.1% share in the “Vado Gateway,” while Cosco Shipping Ports has a 40% share and Qingdao Port International has a 9.9% share. APMT said the project is part of the “New Silk Road.” Chinese firms have invested in more than a dozen European ports…
GE Hires Maersk's CFO as Finance Chief
General Electric Co on Monday named finance head at shipper AP Moller-Maersk as its new chief financial officer in the latest top-level change aimed at turning around the U.S.
A.P. Moller-Maersk Center of Excellence in Tamil Nadu
Maersk, a global integrator of container logistics, has laid the foundation stone of its planned ‘A.P. Moller – Maersk Center of Excellence’ facility at Thenpattinam (Tamil Nadu), to support skill development and training needs for Maersk cadets across job functions (deck, electrical and engine). Maersk signed a Memorandum of Understanding (MoU) with Academy of Maritime Education and Training (AMET) University to jointly operate this facility with an aim to maintain steady channel of Indian seafarers for its operations.The A.
Maersk Lifts 2019 Forecast; Shares Rise
Danish shipping company A.P.
Maersk Shutters China-based Container Factory
Danish shipping group A.P.
Maersk Explores Arctic Shipping Route with Russia
Shipping group A.P. Moller-Maersk said on Friday it is in talks with Russia's state-owned icebreaker operator to send more goods via the Arctic, which is becoming more accessible as climate change reduces the sea ice.Russia has made developing the so-called northern sea route (NSR) - which requires new ports and heavy icebreakers to move goods - a priority, with supporters dubbing the route the northern Suez Canal.Last summer, Maersk carried out what it said was a one-off trial…
DP World Asks Court to Halt Antitrust Probe at Mumbai Port
Dubai's DP World has asked an Indian court to halt an investigation into alleged antitrust violations at the country's largest container port in Mumbai, saying the regulator was seeking excessive information, a court document seen by Reuters showed.The Competition Commission of India (CCI) last year said it suspected antitrust violations by DP World and Denmark's A.P. Moller-Maersk at the terminals they operate at state-owned Jawaharlal Nehru Port Trust (JNPT).The CCI's investigation followed a complaint by Singapore's PSA International Pte Ltd…
Denmark backs Britain's Hormuz Naval Plan
Denmark said on Friday it welcomed a British government proposal for a European-led naval mission to ensure safe shipping through the Strait of Hormuz and would consider a military maritime contribution.Britain has sought to assemble the mission in Hormuz, used by tankers carrying about a fifth of the world's oil, following Iran's seizure of a British-flagged ship in what London said was an act of "state piracy".The initiative won initial support from Denmark, France and Italy…
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…
Indian Court Refuses to Quash Antitrust Probe at Mumbai
An Indian court has declined to quash or stall an antitrust investigation into Dubai-based port operator DP World's alleged anti-competitive behaviour at the country's largest container port in Mumbai, three sources told Reuters on Wednesday.The Competition Commission of India (CCI) last month said it suspected antitrust violations by DP World and Denmark's A.P. Moller-Maersk at the terminals they operate at state-owned Jawaharlal Nehru Port Trust (JNPT).The CCI's probe followed a complaint by Singapore's PSA International Pte Ltd…
Maersk Shares Fall on Trade War Fears
The world's largest container shipping company, A.P. Moller-Maersk, warned trade headwinds would slow growth this year, sending its shares down 10 percent on Thursday.Maersk is also moving ahead with spinning off Maersk Drilling, announcing it expected its new listing in Copenhagen to begin trading on April 4.Maersk, a bellwether for global trade, warned that growth in the number of containers being moved around the world would deteriorate further this year.It expected global container growth of 1-3 percent in 2019…
A.P. Moller-Maersk Accelerates Transformation
Progress on the transformation of A. P. Moller - Maersk continued in 2018. Customers benefited from integrated offerings, digital solutions and robust network improvements. Since 2016, the topline has grown by 43%, to $39bn in 2018, an additional $12bn in turnover.“In 2018, we made significant progress in implementing our strategy. With the expected demerger and listing of Maersk Drilling in April, the separation of our Energy-related businesses will be almost complete. We have successfully integrated Hamburg Süd…
Shipping Recovery Boosts Hapag-Lloyd's Earnings
Full-year operating profit up by 32 percent.Container shipping firm Hapag-Lloyd said volume growth and a modest recovery in freight rates in the second half of 2018 helped push operating profit 32 percent higher, lifting shares in the German group on Monday.Hapag-Lloyd said preliminary earnings showed operating profit before interest and tax (EBIT) rose 32 percent to 443 million euros ($502.81 million) in 2018, while earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 83 percent to 1.138 million euros.
Maersk Mulls Trade Financing Growth in India
Shipping major AP Moller-Maersk Group's export-import (exim)-focused trade finance arm Maersk Trade Finance is targeting a 33 percent loan disbursal growth at $200 million in 2019 in India.The trade financing solution arm of Danish business conglomerate said that it disbursed a total of USD 0.7 billion globally till date since its inception in 2015, with over 150 million in India in the year 2018, a 53% Y-o-Y increase as compared to 2017.Vipul Sardana, Global Head of Maersk Trade Finance said “Indian SME sector continues to play a significant role in India's economic development.
Sea Machines Demonstrates Autonomous Spill-Response Vessel
As a part of its cooperative agreement with the U.S. Department of Transportation Maritime Administration (MARAD), Boston-based Sea Machines Robotics announces that it has successfully demonstrated its autonomous systems in action on board a Kvichak Marco skimmer boat during events held along the Portland harbor earlier today.Sea Machines’ technology opens a new era of capability for the marine industry, and today the company demonstrated its ability to increase the safety, productivity and predictability of response for marine oil-spill operations.
Maritime Cyber Alert
For some years now, the maritime sector has experienced breaches of various computer and information technology (IT) systems. Primarily, these breaches have been collateral damage. The maritime sector has almost never been the intended target. That does not mean that the damage has been minor. In June 2017, A.P. Moller-Maersk suffered a major cyber-attack. The malware had been designed by Russian hackers to disrupt the Ukrainian power sector. Once released, though, it proved to be indiscriminate, infecting IT systems worldwide that had not been kept up to date. In the case of A.P.
Sea Machines Expands European Sales Force
Sea Machines Robotics, a technology company serving the marine industry, has hired industry veteran Frank Relou to lead its European sales efforts. In his new role as European business development manager, Relou will lead the transformation of Europe’s hard-working commercial fleets with technology that empowers operators with enhanced on-water productivity and job predictability.Sea Machines offers proven commercial-grade, wireless, remote vessel-control systems and autonomous navigation technology.
Maersk Lifts 2019 Profit Forecast; Shares Rise
Danish shipping company A.P.