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

MAERSKb.CO on Copenhagen Stock Exchange

28 Apr 2017
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Latest Key Developments (Source: Significant Developments)

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

A.P. Moller-Maersk appoints new Damco CEO, effective from Oct 1
Wednesday, 28 Sep 2016 01:51am EDT 

A.P. Moller-Maersk : Says Klaus Rud sejling, current head of East West Trades in Maersk Line, has been appointed CEO of its logistics company, Damco, with effect from Oct. 1 . Says current Damco CEO, Hanne B. Sorensen, has decided to leave Maersk Group Further company coverage: [MAERSKb.CO] (Reporting by Annabella Pultz Nielsen) ((Annabella.PultzNielsen@thomsonreuters.com;)).  Full Article

A.P. Moller-Maersk says to split into two companies
Wednesday, 21 Sep 2016 11:58pm EDT 

A.P. Moller-Maersk : Reorganising A.P. Moller-Maersk into two separate divisions; Transport & Logistics and Energy . Says Oil and oil related businesses, either individually or in combination, to be separated from A.P. Moller-Maersk . Progress update on strategic review and change of management . Says Transport & Logistics will consist of Maersk Line, APM Terminals, Damco, Svitzer and Maersk Container Industry based on a one company structure with multiple brands . Says Energy will consist of Maersk Oil, Maersk Drilling, Mersk Supply Service and Maersk Tankers . Soren Skou will continue as group CEO of A.P. Moller-Maersk . Says main growth focus of A.P. Moller-Maersk going forward will be delivering best in class transportation and logistics services as an integrated Transport & Logistics company . Says Maersk Line will grow market share organically and through acquisitions . Maersk Oil will mature existing key development projects, while keeping exploration activities and expenses at a low level . Says Jakob Stausholm will be appointed group CFO of A.P. Moller-Maersk as of 1 December . Says Kim Fejfer will step down as member of registered management effective on 1 October and as CEO of APM Terminals effective on 1 November.  Full Article

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