Key Developments: AP Moeller Maersk A/S (MAERSKb.CO)

MAERSKb.CO on Copenhagen Stock Exchange

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Latest Key Developments (Source: Significant Developments)

AP Moeller Maersk's Maersk Drilling receives one-year extension for Maersk Convincer
Sunday, 21 Sep 2014 08:00pm EDT 

AP Moeller Maersk A/S' Maersk Drilling:Says Petronas Carigali has extended the contract for the jack-up rig Maersk Convincer by one year.Says consequently, the rig will be on contract with Petronas until mid-Nov. 2015.Estimates revenue potential from the one-year contract extension is $56 million.  Full Article

AP Moeller Maersk announces launch and pricing of inaugural USD bond offering
Monday, 15 Sep 2014 04:57pm EDT 

AP Moeller Maersk A/S:Says has successfully launched and priced its inaugural USD bond offering.Says the transaction includes a $750 million bond due in Sep. 2019 and a $500 million bond due in Sep. 2024.Says coupons are 2.55 pct and 3.75 pct respectively.Says the transaction is the company's first USD bond offering.Says both tranches are expected to be rated BBB+ by S&P and Baa1 by Moody’s.Says will use net proceeds for general corporate purposes.Says Underwriters were Bank of America Merrill Lynch, Barclays, Citigroup, J.P. Morgan, and RBS.  Full Article

AP Moeller Maersk A/S raises FY 2014 profit guidance
Tuesday, 19 Aug 2014 01:57am EDT 

AP Moeller Maersk A/S:Upgrades FY 2014 profit guidance to be around $4.5 bln.  Full Article

AP Moeller Maersk launches share buy-back of up to 5.6 billion Danish crowns
Tuesday, 19 Aug 2014 01:57am EDT 

AP Moeller Maersk A/S:Board of Directors has decided to initiate a share buy-back program of up to 5.6 billion Danish crowns (about $1 billion) to be executed during a 12 months period.The purpose of the share buy-back program is to adjust the capital structure of the company and to meet the obligations arising from employee share option programs or other allocations of shares to employees of the company.First phase of the share buy-back program will run from Sep. 1 to Nov. 30.Further details on the shares to be acquired in the first phase will be published on Aug. 29.  Full Article

AP Moeller Maersk unit signs vessel sharing agreement with MSC-Ritzau
Thursday, 10 Jul 2014 02:09am EDT 

AP Moeller Maersk A/S:Says its unit Maersk Line signs vessel sharing agreement with MSC-Ritzau.The agreement is valid for 10 years and concerns 185 ships.Maersk Line is to be responsible for 55 pct of the capacity.The agreement is effective as of the beginning of 2015.  Full Article

AP Moeller Maersk A/S sells stake in Polvo field and maintains FY 2014 earnings guidance
Tuesday, 8 Jul 2014 03:23am EDT 

AP Moeller Maersk A/S:Says it has divested its ownership share in the small producing field Polvo to the operator, Brazilian independent HRT O&G Exploracao e Producao de Petroleo Ltda.Maintains FY 2014 underlying profit guidance of around $4 bln and FY 2014 Group result guidance significantly above FY 2013.  Full Article

AP Moeller Maersk A/S towage company gets contract from CMA CGM-Reuters
Thursday, 26 Jun 2014 03:34am EDT 

AP Moeller Maersk A/S:Towage company Svitzer, a unit of AP Moller-Maersk, has signed a contract with French shipping firm CMA CGM to serve five more ports in Europe, the Danish company said-Reuters.The deal is an addition to the 22 ports Svitzer serves for CMA CGM, and will include Maasvlakte in Rotterdam and Bremerhaven, it said in a statement.No financial details were disclosed.  Full Article

AP Moeller Maersk A/S abandons plans to establish P3 Network
Tuesday, 17 Jun 2014 06:05am EDT 

AP Moeller Maersk A/S:Says that on June 18, 2013 it announced that the company together with MSC Mediterranean Shipping Company SA and CMA CGM SA (the Partners) had agreed in principle to establish an alliance named the P3 Network.The establishment was subject to approvals from relevant regulatory authorities.On June 17 the Ministry of Commerce (MOFCOM) of the People’s Republic of China announced that they have not approved the P3 Network.The MOFCOM’s decision follows a review under China's merger control rules.The Partners take note of and respect MOFCOM’s decision.Subsequently, the Partners have agreed to stop the preparatory work on the P3 Network and the P3 Network as initially planned will not come into existence.The lack of implementation of the P3 Network will have no material impact on the Maersk Group’s expected result for 2014.  Full Article

AP Moeller Maersk's APM Terminals plans expansion of Aqaba Logistics Village
Monday, 2 Jun 2014 08:00pm EDT 

AP Moeller Maersk A/S' APM Terminals:Plans to upgrade the supply chain capabilities of its subsidiary, Aqaba Logistics Village (ALV).The aim is to help serve Iraq's high growth market.ALV is currently 13 hectares in size and the new facility will add 11 hectares.The new distribution center will be operational by Feb. 2015.Key commodities targeted for this upgraded service include cars, project cargoes, manufacturing materials, industrial supplies, domestic appliances and timber.  Full Article

AP Moeller Maersk raises FY 2014 guidance for earnings of continuing operations and confirms FY 2014 total earnings guidance-Ritzau
Wednesday, 21 May 2014 02:03am EDT 

AP Moeller Maersk A/S:Expects earnings of continuing operations in the fiscal year 2014 to be $4 billion, against the previous guidance for earnings of continuing operations in 2014 to be in line with 2013, which was $3.6 billion-Ritzau.Still expects total earnings for the fiscal year 2014 at above the total earnings of $3.8 billion reported for fiscal year 2013.  Full Article

Maersk Broker may look at mergers as other shipbrokers do deals

COPENHAGEN - Major ship brokerage firm Maersk Broker is looking into possible mergers and joint ventures after a spate of deals in the broking industry which is gearing up for a revival in the international shipping business after a five-year downturn.

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