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

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Latest Key Developments (Source: Significant Developments)

Maersk Supply Service wins contract with Maersk Oil UK for North Sea project
Monday, 15 May 2017 02:19am EDT 

May 15 (Reuters) - A.P. Moller-Maersk :.  Full Article

A.P. Moller-Maersk CFO still sees 2017 as inflexion point in container shipping
Thursday, 11 May 2017 05:16am EDT 

May 11 (Reuters) - A.P. Moller-Maersk A/S ::A.P. Moller-Maersk's CFO, Jakob Stausholm, says still sees 2017 as an inflexion point for the global container shipping business."The good news is that we now see a recovery also in North-South rates," he adds."Demand grew 4-5 percent in the quarter and supply grew around 1 percent which makes Q1 second quarter in a row where we saw demand grow outgrow supply growth," says CEO Soren Skou on the call.  Full Article

Maersk CEO sees possible upside to 2017 market growth outlook
Thursday, 11 May 2017 04:56am EDT 

May 11 (Reuters) - A. P. Moller-Maersk A/S CEO Soren Skou made following comments on a conference call following the firm's Q1 earnings::"In terms of your question on whether we are too conservative on our market growth guidance or whether there is a risk of that, I guess the answer to that is yes we have been surprised on the upside with growth in this first quarter"."We have decided not to upgrade our market demand growth forecast yet, because we are not 100 percent sure about what is the driver and is this just some quarterly inventory movements that is blurring the picture".Maersk said in its first quarter report that the global demand for seaborne container transportation is still expected to increase by 2-4 percent in 2017.  Full Article

A.P. Moller-Maersk CFO more confident in 2017 outlook
Thursday, 11 May 2017 02:56am EDT 

May 11 (Reuters) - A.P. Moeller - Maersk A/S Chief Financial Officer Jacob Stausholm told Reuters :Says has greater confidence in delivering on 2017 outlook now than a quarter ago."We are more calm about being able to deliver what we have promised now than a quarter ago".Says growth in demand for container transport during Q1 has been "very strong".Says expects Maersk's container unit to grow in line with market the next couple of quarters.  Full Article

BRIEF-Maersk Group Q1 net profit beats expectations, maintains 2017 outlook
Thursday, 11 May 2017 02:13am EDT 

Repeats to attach to alerts:Q1 net result $253 million versus $199 million seen in Reuters poll.Q1 EBITDA $1,706 million versus $1,819 million seen in Reuters poll.Q1 revenue $8,963 million versus $9,138 million seen in Reuters poll.Says Maersk Line is on track to deliver a result improvement of above USD 1 bln for 2017 compared to 2016, despite an underlying loss of USD 80 million in Q1, driven by a USD 381 million higher fuel bill.Says Maersk Line is focused on restoration of profitability and maintaining market share in next quarters, as industry fundamentals improve.Says energy division is progressing on defining sustainable structural solutions for individual businesses and was profitable in Q1 with Maersk Oil delivering strong earnings.CEO says "whilst we cannot be satisfied with overall profitability in Q1, result is as expected and we reiterate our guidance for year for group".Says both spot freight rates and contract rates have increased during quarter, lately also on North-South trades.Says Hamburg Süd acquisition is progressing as planned towards a closing in Q4, subject to regulatory approval.Says global demand for seaborne container transportation is still expected to increase 2-4 percent.Says Maersk Line's EBIT margin is estimated to be on par with peer group in Q4, 2016, below the ambition of 5%-points gap..  Full Article

Hamburg Sud: Changes to future management
Thursday, 4 May 2017 03:38am EDT 

May 4 (Reuters) - A.P. Moller-Maersk ::Says today, boards of Maersk Line and Oetker Group made a joint announcement on future management of Hamburg Süd.Says Ottmar Gast will retire as chairman of executive board to become chairman of supervisory board of Hamburg Süd.Says Søren Toft, chief operating officer of Maersk Line a/s, will become member of supervisory board of Hamburg Süd.Says Arnt Vespermann will become new chairman of executive board of hamburg süd.Says until closing, expected by end-2017, Hamburg Süd will continue to operate independently from maersk line as required by competition laws.  Full Article

Maersk Line deploys first of eleven 2nd generation mega-ships
Tuesday, 2 May 2017 02:00am EDT 

May 2 (Reuters) - A.P. Moller-Maersk ::Madrid Maersk, a 20,568 Twenty-Foot Equivalent Unit (TEU) container vessel and the first 2nd generation Triple-E class, called the Port of Tianjin in China as the first port on its maiden voyage.Madrid Maersk is the first in a series of eleven 2nd generation Triple-E vessels and the first of the 27 vessels Maersk Line ordered in 2015 to enter service.The global container shipping industry has been grappling with low freight rates and an oversupply of vessels."Maersk Line will take delivery of the vessels until end of 2018 and they will replace older and less efficient tonnage".Maersk Line has not taken delivery of own new-buildings since July 2015."To stay competitive and achieve lowest cost, Maersk Line will continue to manage fleet capacity tightly. For example, Maersk Line has a relatively high number of vessels on short term charters".In the first quarter of 2017, Maersk Line recycled seven Panamax vessels.  Full Article

Maersk Line puts 3.7 bln EUR price tag on Hamburg Sud acquisition
Friday, 28 Apr 2017 02:10am EDT 

April 28 (Reuters) - A.P. Moller-Maersk :Says sale and purchase agreement approved for Maersk Line's acquisition of Hamburg Süd by the boards of Maersk Line and Oetker Group.Says will acquire Hamburg Süd for EUR 3.7 bln on a cash and debt-free basis (enterprise value).Says acquisition is expected to generate annual operational synergies of around USD 350-400 million as from 2019, primarily derived from integrating and optimising vessel networks as well as utilising terminal capacity in APM Terminals unit..Says a syndicated loan facility has been established to fully finance acquisition.Says Maersk Line expects to close transaction end 2017 wherefore acquisition is not included in guidance for 2017.  Full Article

Maersk to divest Brazil shipper to get Hamburg Sud takeover approved
Friday, 7 Apr 2017 08:00am EDT 

Denmark's A. P. Moller-Maersk : Says confirms its intention to divest Mercosul Line in Brazil with the purpose of securing the Brazilian competition authorities' (CADE) swift approval of the Hamburg Sud acquisition . Says the divestment will ensure that the cabotage sector in Brazil remains competitive and that customers can benefit from a comprehensive choice of carriers . Says Mercosul owns 4 vessels, operates 2 services and employs more than 250 employees Further company coverage: [MAERSKb.CO] (Reporting by Teis Jensen) ((copenhagen.newsroom@thomsonreuters.com; +45 33 96 96 55;)).  Full Article

Maersk Oil starts production at North Sea oilfield
Monday, 27 Mar 2017 02:18am 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


Maersk applies new IT security systems after malware attack

COPENHAGEN A.P. Moller-Maersk said on Thursday its anti-virus software was not effective against a new type of malware that hit the Danish shipping giant last month, but said further protective measures have now been put in place.