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

MAERSKb.CO on Copenhagen Stock Exchange

24 Feb 2017
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Latest Key Developments (Source: Significant Developments)

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

Johan Sverdrup resource estimate unchanged after appraisal well-NPD
Friday, 3 Feb 2017 02:33am EST 

Norwegian Petroleum Directorate: Says Statoil has concluded drilling of appraisal well 16/2-22 s on Johan Sverdrup oilfield . Says the well encountered a total oil column of 16 metres, most likely in the Draupne formation . Says the reservoir properties are moderate to poor, not of the same quality as the main reservoir on Johan Sverdrup . Says based on preliminary calculations Statoil's resource estimate for the Johan Sverdrup will not be changed . Statoil partners in the field are Lundin, Petoro, Aker BP and Maersk Oil Further company coverage: [STL.OL] (Reporting By Nerijus Adomaitis) ((nerijus.adomaitis@thomsonreuters.com;)).  Full Article

Maersk Oil says to cut up to 160 positions in Denmark
Monday, 9 Jan 2017 06:00am EST 

A.P. Moller-Maersk : Says Maersk Oil's Danish Business Unit (DBU) to simplify its organization; expects to reduce up to 160 positions . Says reorganization will run during the coming months . Says first phase to reconfigure the onshore organization will be completed during Q1 2017 . Says as part of first phase Maersk Oil DBU plans to consolidate all employees at its office in Esbjerg Further company coverage: [MAERSKb.CO] (Copenhagen newsroom) ((copenhagen.newsroom@thomsonreuters.com; +45 33 96 96 03;)).  Full Article

Maersk Line to buy German container shipper Hamburg Süd in $4 billion deal - WSJ, citing sources
Thursday, 1 Dec 2016 10:15am EST 

:Maersk Line to buy German container shipper Hamburg Süd in $4 billion deal - WSJ, citing sources.  Full Article

DEA and Petoro to buy half of Edison's stake in Norway gas field
Thursday, 1 Dec 2016 05:21am EST 

Oil firm DEA says: Oil firms DEA and Norway's state-owned Petoro to each acquire 5 percent stakes in Norway's Dvalin natural gas field, formerly known as Zidane, from Italy's Edison . Edison to maintain 10 percent stake in Dvalin field, down from 20 percent . DEA to hold 55 percent stake in Dvalin, Petoro 35 percent, Edison 10 percent if transactions approved . In October, DEA said it will invest 10 billion Norwegian crowns ($1.18 billion) to develop the Norwegian Sea find together with its partners . Petoro and DEA have previously agreed to buy stakes in Dvalin from Austria's OMV and Denmark's Maersk Oil ($1 = 8.4623 Norwegian crowns) (Reporting by Stine Jacobsen, editing by Terje Solsvik) ((stine.jacobsen@thomsonreuters.com;)).  Full Article

Maersk Drilling enters 5-yr partnership with National Oilwell Varco
Monday, 21 Nov 2016 09:10am EST 

A.P Moller-Maersk's drilling unit Maersk Drilling : Says has entered into a five-year partnership with National Oilwell Varco to improve maintenance predictability for drilling equipment. . Says agreement covers Maersk Drilling's three deepwater D-class semi-submersibles as well as the four ultra-deepwater V-class drillships. . Says ultimate goal is to eliminate the need for quay side yard stays every five years. Further company coverage: [MAERSKb.CO] (Copenhagen newsroom) ((copenhagen.newsroom@thomsonreuters.com; +45 33 96 96 03;)).  Full Article

Statoil says Stausholm resigns from board
Monday, 3 Oct 2016 01:59am EDT 

Statoil Asa : Says Jakob Stausholm leaves the board of directors .Stausholm has informed that he will resign from his position as member of the board of directors in Statoil ASA with immediate effect in order to avoid potential conflicts of interests following his new appointment as CFO of the Maersk group.  Full Article

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