AP Moeller - Maersk A/S (MAERSKb.CO) Key Developments | Reuters.com
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AP Moeller - Maersk A/S (MAERSKb.CO)

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Latest Key Developments (Source: Significant Developments)

AP Moeller Maersk A/S - Maersk, MSC, 13 others offer to settle EU pricing probe -sources - Reuters
Wednesday, 10 Feb 2016 06:38am EST 

AP Moeller Maersk A/S:Maersk, MSC and 13 other firms have offered to change their pricing practices to settle an EU antitrust probe and stave off any fines, three people familiar with the matter said on Wednesday - RTRS.The European Commission opened an investigation into the companies, among the world's 18 largest shipping liners, in November 2013 following dawn raids in May 2011 - RTRS.The EU competition enforcer said the shipping companies may have been illegally orchestrating price hikes since 2009 via public announcements of rate increase plans on their websites and in the specialised trade press - RTRS.The companies have offered to publish binding actual rates a month before they go into effect, the people said. In some circumstances, the figures may act as a price cap. A third source said the offer applies only for short-term prices, not long-term ones or annual contracts - RTRS.The Commission is expected to seek feedback from third parties this week or next before deciding whether to accept the pledge and close the investigation - RTRS.The other companies involved are CMA CGM, Taiwan's Evergreen Marine, Germany's Hapag Lloyd HLAG.DE, China Ocean Shipping (Group) Company (COSCO), China Shipping CNSHI.UL, Hamburg Sud, South Korean firm Hanjin, OOCL (Orient Overseas Container Line) - RTRS.Japan's Mitsui OSK Lines (MOL), United Arab Shipping Company, Nippon Yusen Kaisha, Hyundai Merchant Marine and Israeli peer Zim, the sources said. - RTRS.  Full Article

AP Moeller Maersk A/S provides outlook for FY 2016
Wednesday, 10 Feb 2016 01:53am EST 

AP Moeller Maersk A/S:Expects underlying net result in FY 2016 to be significantly below last year's $3.1 billion.  Full Article

Maersk ‍joins WTO Global Alliance for Trade Facilitation​-Reuters
Thursday, 17 Dec 2015 04:53am EST 

AP Moeller Maersk A/S:Says ‍joins WTO's Global Alliance for Trade Facilitation​ (TFA)-Reuters.CEO says WTO Trade Facilitation agreement will represent an important step toward minimising supply chain barriers and reinvigorating global trade.Says WTO estimates full implementation of TFA could add $1 trillion to global GDP annually and 21 million new jobs.  Full Article

AP Moeller Maersk says Maersk Drilling gets 5-year contract for jack-up rig
Monday, 7 Dec 2015 03:20am EST 

AP Moeller Maersk A/S:Says gets 5-year contract for jack-up rig Maersk Guardian for accommodation on various fields in the Danish part of the North Sea.Maersk Drilling says estimated contract value for the firm contract period is $142 million.The contract includes two 1-year options.The Maersk Guardian is currently stacked in Frederikshavn where it will be located throughout the refurbishment period until contract commencement.  Full Article

Petrorio says takes over Maersk 40 pct in Polvo field-Reuters
Friday, 4 Dec 2015 06:40am EST 

Petrorio:Says the national oil regulator ANP approved the exit of Maersk from Polvo field-Reuters.Petrorio to take over Maersk's 40 percent stake and hold 100 percent of asset.  Full Article

Maersk initiates second phase of share buy-back program
Tuesday, 1 Dec 2015 02:55am EST 

AP Moeller Maersk A/S:Initiates second phase of share buy-back program.Says second phase of program will run from Dec. 1, 2015 to March 31, 2016.Says A and B shares will be acquired in a 20/80 split reflecting current trading volumes of two share classes.Says shares to be acquired will be limited to a total market value of 4.40 billion Danish crowns.Says has appointed Handelsbanken as lead manager for second phase of share buy-back.  Full Article

AP Moeller Maersk A/S gets contract worth $44 mln from Total
Monday, 30 Nov 2015 07:00pm EST 

AP Moeller Maersk A/S:Maersk Drilling, a unit in A.P. Moller-Maersk, has been awarded a contract for the drillship Maersk Venturer with oil company Total.The estimated contract value for the programme is $44 million excluding mobilisation.The contract covers one exploration well (estimated duration 120 days) in block 14 offshore Uruguay.  Full Article

AP Moeller Maersk A/S and rest investors delay acquisition of Piraeus Port - Reuters
Thursday, 19 Nov 2015 09:13am EST 

AP Moeller Maersk A/S:Greece pushes back the date for the submission of binding bids for the sale of its biggest port Piraeus by two weeks to Dec. 15 upon investor request, says the head of its privatization agency -Reuters.China's Cosco Group, Danish container terminal operator APM Terminals and Philippines-based International Container Terminal Services were to submit bids on Dec. 3 for a 51 percent stake in OLP.Investors have asked for a two-week extension... to have enough time to check (the company's) financial data, the head the privatization agency, Stergios Pitsiorlas says.  Full Article

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

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Loss of Qatari oil contract piles pressure on Maersk profits

COPENHAGEN/LONDON Denmark's A.P. Moller-Maersk has lost a major oil production contract in Qatar this week, just days after the shipping and oil group said it was considering a break-up due to worsening market conditions, shipping and banking sources say.