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AP Moeller - Maersk A/S (MAERSKa.CO)

MAERSKa.CO on Copenhagen Stock Exchange

10,960.00DKK
27 Mar 2017
Change (% chg)

kr.-210.00 (-1.88%)
Prev Close
kr.11,170.00
Open
kr.11,040.00
Day's High
kr.11,070.00
Day's Low
kr.10,860.00
Volume
5,614
Avg. Vol
7,430
52-wk High
kr.11,730.00
52-wk Low
kr.7,485.00

Latest Key Developments (Source: Significant Developments)

Maersk Oil starts production at North Sea oilfield
2:18am EDT 

Maersk Oil : Says production has begun from the Maersk Oil-operated Flyndre field in the UK and Norwegian North Sea . First oil began to flow Sunday evening, travelling 25 km via pipeline to the Repsol Sinopec-operated Clyde platform . Production from the Flyndre field is expected to peak at around 10,000 bopd with the field expected to produce until at least 2023 . Partners in the Flyndre field development are Maersk Oil UK Limited (65.9 pct), Repsol Sinopec Resources UK Limited (22.7 pct), Repsol Sinopec North Sea Limited (4.2 pct), Maersk Oil Norway (6.3 pct), Statoil Petroleum AS (0.5 pct) and Petoro AS (0.4 pct) Further company coverage: [MAERSKb.CO] (Reporting by Stine Jacobsen) ((stine.jacobsen@thomsonreuters.com;)).  Full Article

Hapag Lloyd says cooperating with U.S. authorities
Wednesday, 22 Mar 2017 05:23am EDT 

Hapag Lloyd spokesman: Says have received letter from U.S. authorities over investigation into anti-competitive conduct . Says probe has no impact on UASC deal, which has been approved . Says cooperating with U.S. authorities Further company coverage: [HLAG.DE] ((frankfurt.newsroom@thomsonreuters.com; +49 69 7565 1270;)).  Full Article

BRIEF-Statoil's phase 2 of Sverdrup oilfield to cost up to NOK 55 bln
Tuesday, 21 Mar 2017 03:15am EDT 

Statoil Asa : Proceeding with phase 2 of the johan sverdrup development . Johan sverdrup partnership has now decided to proceed with (dg2) phase 2 of johan sverdrup development, awarding feed contracts to aker solutions, kværner and siemens . Phase 2 is scheduled to come on stream in 2022. . Capital expenditures for phase 2 are now estimated at between NOK 40 billion-NOK 55 billion (nok billion nominal, fixed currency and excluding ior) ($4.73 billion-$6.51 billion) halving estimate since pdo was submitted for phase 1 of johan sverdrup . Break-Even price for full-field development is now less than usd 25 per barrel and with an ambition of a world class recovery rate of 70 pct . Johan sverdrup suppliers have demonstrated a willingness and capabilities to develop good solutions in a partnership with us . Will now proceed with maturing phase 2 for investment decision and submission of plan for development and operation (pdo) in second half of 2018 . The partnership has also decided on the development concept for Johan Sverdrup. Phase 1 of the development establishes a field centre consisting of four platforms on the field . Phase 2 builds on this infrastructure, adding another processing platform to field centre. Overall this will result in a processing capacity of 660 000 barrels of oil per day.  Full Article

Maersk Line signs sale agreement for Hamburg Sud acquisition
Wednesday, 15 Mar 2017 01:44am EDT 

Ap Moeller - Maersk A/S : A.P. Moller-Maersk has signed sale and purchase agreement for its acquisition of smaller rival Hamburg Süd . "The agreement is subject to board approvals, which are expected during Q2 2017 following which further details in respect of the acquisition will be communicated" . Maersk Line still expects to close the transaction end-2017 . On 1 December 2016 the Danish conglomerate announced that its subsidiary Maersk Line and the Oetker Group had reached an agreement for Maersk Line to acquire the German container shipping line Hamburg Süd [nL8N1DW1WJ] . The acquisition was subject to final agreement and regulatory approvals Further company coverage: [MAERSKb.CO] (Reporting by Stine Jacobsen) ((stine.jacobsen@thomsonreuters.com;)).  Full Article

Maersk Line signs sale agreement for Hamburg Sud acquisition
Tuesday, 14 Mar 2017 04:35pm EDT 

Ap Moeller - Maersk A/S : A.P. Moller-Maersk has signed sale and purchase agreement for its acquisition of smaller rival Hamburg Süd . "The agreement is subject to board approvals, which are expected during Q2 2017 following which further details in respect of the acquisition will be communicated" . Maersk Line still expects to close the transaction end-2017 . On 1 December 2016 the Danish conglomerate announced that its subsidiary Maersk Line and the Oetker Group had reached an agreement for Maersk Line to acquire the German container shipping line Hamburg Süd [nL8N1DW1WJ] . The acquisition was subject to final agreement and regulatory approvals Further company coverage: [MAERSKb.CO] (Reporting by Stine Jacobsen) ((stine.jacobsen@thomsonreuters.com;)).  Full Article

A.P. Moller-Maersk CEO eyes more acquisitions in container shipping industry
Thursday, 2 Mar 2017 10:30am EST 

A.P. Moller-Maersk's CEO Soren Skou made the following statements during a PwC conference in Copenhagen on Thursday: "It (the acquisition of Hamburg Sud) is hopefully the first step to be part of driving the consolidation in the container shipping industry" . "It is presumably not the last within this industry" . In December, Maersk Line announced the acquisition of its smaller German rival Hamburg Sud [nL8N1DW1WJ] . The start to 2017 is "much better" than the start of 2016 when looking at the container shipping market Further company coverage: [MAERSKb.CO] (Reporting by Stine Jacobsen) ((stine.jacobsen@thomsonreuters.com;)).  Full Article

Maersk Line increases capacity on Asia-Europe and Transpacific services
Monday, 13 Feb 2017 03:08am EST 

A.P. Moller-Maersk : Says Maersk Line introduces a new service - ae7 - on Asia- North Europe trade and a new service - tp16 - on Transpacific trade . Says new services will enable MSC and Maersk Line to accommodate incoming volumes from recently announced slot purchase agreements with Hyundai Merchant Marine and Hamburg Süd . The two carriers will move cargo, but not operate vessels in the 2M network . "Our new slot agreements require that we increase our capacity. With these service improvements we are adding the necessary capacity to match the increase in volumes," said Silvia Ding, Head of Trade in Maersk Line . The transit time from South China to the US South Atlantic will improve by eight days, which will be the fastest in the market, it said . In addition, Maersk Line will merge the TP8 and TP3 services between Asia and the US West Coast into one service, the TP8 . The enhancements are effective 1 April 2017. Further company coverage: [MAERSKb.CO] (Reporting by Stine Jacobsen) ((stine.jacobsen@thomsonreuters.com;)).  Full Article

Maersk Line settles Russian competition case
Wednesday, 8 Feb 2017 04:10am EST 

A.P. Moller-Maersk : Today Maersk Line and the Federal Antimonopoly Service of the Russian Federation (FAS) agreed to settle a competition case regarding Maersk Line and other shipping lines' use of price announcements to the Russian market. . The agreement is subject to payment of a settlement fee of approximately $230,000 by Maersk Line. . As part of the settlement agreement, the previous FAS decision on a fine of approximately $12 million will be terminated. . "In the case FAS found no evidence of cartel behavior, but under a unique provision in Russian Competition Law, FAS had initially concluded that Maersk Line and the other shipping lines' use of price announcements constituted a non-cartel concerted action". . "The case concerned a unique Russian provision that does not exist in other countries. This agreement shows the commitment of both parties to find a solution that creates clarity for the future. We look forward to continuing our engagements in Russia", said Camilla Jain Holtse, Head of Competition Law at Maersk Line. . In the proposed agreement, Maersk Line commits to cease public price announcements for cargo to Russian ports and instead, customers will receive price information for Russia specific corridors via email or a password protected webpage..  Full Article

Maersk Q4 EBITDA lags forecasts
Wednesday, 8 Feb 2017 02:30am EST 

Annual Report 2016 : Expects group to deliver an 2017 underlying profit above 2016, mainly driven by an improvement in underlying profit in excess of $1 billion in Maersk Line compared to 2016 . Q4 revenue $8,887 million versus $9,538 million seen in reuters poll . Q4 EBITDA $1,504 million versus $2,009 million seen in reuters poll . Q4 net operating loss $2,677 million, negatively impacted by impairments of $1.5 billion in Maersk Drilling and $1.1 billion in Maersk Supply Service . Says the board of directors proposes an ordinary dividend to the shareholders of DKK 150 per share of DKK 1,000 (DKK 300 per share of DKK 1,000) . Expects gross capital expenditure for 2017 to be $5.5-6.5 billion . Expects transport & logistics division underlying profit above $1 billion . Sees global demand for seaborne container transportatin to increase 2-4 percent in 2017 . Says transport & logistics division 2017 underlying profit expected around 2016 level . Energy division expects an underlying profit around $0.5 billion . Says Maersk Oil 2017 entitlement production is expected at a level of 215,000-225,000 boepd . Expects net financial expenses for A.P. Moller - Maersk around $0.5 billion . Says 2017 exploration costs in Maersk Oil are expected to be around the 2016 level.  Full Article

Statoil CEO sees further upside to Sverdrup field reserve estimates
Tuesday, 7 Feb 2017 05:16am EST 

Statoil Asa : CEO says "there are definitely upsides attached" to the latest Johan Sverdrup reserves estimates, which now stands at 2.0-3.0 billion barrels of oil equivalents . CFO says Johan Castberg field development cost now seen at NOK "45-plus billion" ($5.40 billion) versus NOK 50-60 billion seen 12 months ago . CEO says break-even cost of Brazil's Peregrino II project now below $45 per barrel . Both CEO Eldar Saetre and CFO Hans Jakob Hegge spoke on the sidelines of Statoil's earnings and strategy update in London Further company coverage: [STL.OL] ($1 = 8.3342 Norwegian crowns) (Reporting by Nerijus Adomaitis, writing by Terje Solsvik, editing by Gwladys Fouche) ((terje.solsvik@thomsonreuters.com;)).  Full Article

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