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

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Latest Key Developments (Source: Significant Developments)

Maersk Oil gets approval for development plan in Kurdistan
Tuesday, 17 Nov 2015 05:11am EST 

AP Moeller Maersk A/S:Maersk Oil, a unit in A.P. Moller-Maersk MAERSKb.CO says the Kurdistan regional government of Iraq has approved the field development plan for the Swara Tika discovery in the Sarsang production sharing contract.The Swara Tika discovery is producing at a rate of some 3,000 barrels per day from one well.The field development plan comprises development activities that are expected to increase the oil production capacity initially to some 15-20,000 barrels per day during 2016 with an early production system.Maersk Oil holds an 18 percent participating interest in the Sarsang PSC. The other Sarsang contractors include HKN Energy Ltd (42 percent, Operator) and Marathon Oil KDV B.V (20 percent).The remaining 20 percent interest is held by the KRG.  Full Article

Africa Oil says entered into deal with Maersk Oil
Tuesday, 17 Nov 2015 01:00am EST 

Africa Oil Corp:Entered into deal with Maersk oil & gas a/s, owned by the Maersk group.Under deal Maersk to acquire 50% of co's interests in blocks 10bb,13t , 10ba in Kenya,Rift Basin and South omo blocks in Ethiopia.Says Maersk will pay Africa Oil $350 million as reimbursement of past costs incurred by Africa Oil.Maersk will also carry up to $75 million of company's share of development expenditures upon confirmation of resources.Says transaction is subject to host government and applicable regulatory approvals.Maersk will also carry up to $405 million of co's working interest share of development expenditures for lokichar development project.Discussions with Kenyan government on draft field development plan for discoveries in South Lokichar basin continue positively.  Full Article

Maersk Oil to buy shares in 3 onshore exploration licenses-Reuters
Monday, 9 Nov 2015 01:12am EST 

AP Moeller Maersk A/S' Maersk Oil:Says has agreed to acquire half of Africa Oil corporation's shares in three onshore exploration licenses in Kenya and a further two in Ethiopia-Reuters.Says the licenses cover an area of about 100,000 square kilometres and include eight recent oil discoveries.The value of the deal is split between an upfront farm-in payment of $365 million, including exploration costs.Future contingent payments of up to $480 million will be made by Maersk Oil for the Lokichar Project, determined by the size of the resource after final appraisal and the agreed timetable for first oil.  Full Article

AP Moeller Maersk lowers FY 2015 profit outlook
Friday, 23 Oct 2015 02:00am EDT 

AP Moeller Maersk A/S:Downgrades its profit outlook for FY 2015 by $0.6 billion to an underlying result of around $3.4 billion.  Full Article

AP Moeller Maersk A/S: APM Terminals prepares Costa Rica port expansion
Monday, 19 Oct 2015 03:40am EDT 

AP Moeller Maersk A/S:APM Terminals Moin recently concluded contract for delivery of six, electric powered STS cranes and 29 electric-powered Rubber Tire Gantry Cranes (eRTGs) which will make 1.3 million TEU, deep water container terminal one of most advanced in Latin America upon completion of Phase One in 2018.Says larger container ships with increased refrigerated container capacity will be able to call Costa Rica directly.  Full Article

AP Moeller Maersk unit to buy container terminals for $1 bln from Perez y Cia-Reuters
Friday, 16 Oct 2015 03:14am EDT 

AP Moeller Maersk A/S:APM Terminals, part of Moller-Maersk, has agreed to buy the remaining 39 percent of Grup Maritim TCB-Reuters.Following the transaction APM Terminals would be sole controlling shareholder of the company which operates 11 container ports.Says enterprise value of the total transaction is about $1 billion.Said on Sept. 8 it has agreed to buy 61 percent of Grup Maritim TCB from Perez y Cia.  Full Article

AP Moeller Maersk A/S: APM Terminals plans 150 mln euro investment in Italy
Sunday, 11 Oct 2015 08:00pm EDT 

AP Moeller Maersk A/S:Says invests in new infrastructure in Italy at Savona-Vado on Ligurian Coast.Says 150 million euro investment planned.Says four Ship-to-Shore (STS) cranes and 14 automated Rail-Mounted Gantry Cranes (ARMGs) ordered for spring 2017.Says new deep-water terminal with 800,000 twenty-foot equivalent annual capacity opens in Jan. 2018.  Full Article

AP Moeller Maersk issues $1 bln bond loan
Tuesday, 22 Sep 2015 01:05am EDT 

AP Moeller Maersk A/S:Says has launched and priced its second USD bond offering.Says transaction includes a $500 million bond due in Sept 2020 and a $500 million bond due in Sept 2025, with coupons of 2.875 percent and 3.875 percent respectively.Says both tranches are expected to be rated BBB+ by S&P and BAA1 by Moody's. Net proceeds will be used for general corporate purposes.Says underwriters were BNP Paribas, BofA Merrill Lynch, Credit Agricole, Deutsche Bank Securities, and J.P. Morgan.  Full Article

Maersk Tankers places $300 mln ship order with Samsung Heavy Industries-Reuters
Friday, 18 Sep 2015 08:14am EDT 

AP Moeller Maersk A/S:Maersk unit Maersk Tankers has placed a $300 million order for nine medium-range tankers from Samsung Heavy Industries' Ningbo shipyard in China-Reuters.The nine vessels, whose flag states have yet to be determined, will join the Maersk Tankers fleet during 2017 and 2018.  Full Article

Maersk keeps group profit outlook for FY 2015-Reuters
Wednesday, 9 Sep 2015 02:49am EDT 

AP Moeller Maersk A/S:Keeps its expectation of an underlying profit of $4 billion for FY 2015 compared to $4.5 billion in FY 2014-Reuters.Reiterates its cash flow for this year will amount to $8 billion from an earlier expected $9 billion.  Full Article

REFILE-Hyundai Merchant Marine signs deal to join 2M shipping alliance

July 14 South Korean shipper Hyundai Merchant Marine Co Ltd said on Thursday that it had signed a preliminary deal to join a 2M vessel-sharing alliance of Maersk Line and Mediterranean Shipping Co (MSC), the world's two largest container shippers.