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

MAERSKb.CO on Copenhagen Stock Exchange

11 Jul 2014
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Latest Key Developments (Source: Significant Developments)

AP Moeller Maersk A/S' Maersk Drilling secures contract extension-Reuters
Friday, 3 Jan 2014 02:07am EST 

AP Moeller Maersk A/S' Maersk Drilling:AP Moeller Maersk A/S' Maersk Drilling receives two-year extension for the jack-up rig Maersk Reacher from Sep. to Sep. 2016-Reuters.BP Norway holds options to further extend the contract by up to additional four years until Sep. 2020.Value of the two-year extension is about $222 million.  Full Article

AP Moeller Maersk announces change in shareholders structure
Friday, 20 Dec 2013 09:17am EST 

AP Moeller Maersk A/S:Says A.P. Moeller og Hustru Chastine Mc-Kinney Moellers Fond til almene Formaal (the Foundation) has informed the Company that the Foundation has transferred all of its shares in the company to a newly established subsidiary of the Foundation, A.P. Moeller Holding A/S.Says subsequently, A.P. Moeller Holding A/S directly 41.51 percent of the share capital and 51.09 percent of the votes.Says the Foundation no longer owns any direct shares of A.P. Moeller - Maersk A/S.  Full Article

AP Moeller Maersk's Maersk Drilling secures contract for Maersk Guardian
Friday, 20 Dec 2013 02:00am EST 

AP Moeller Maersk A/S' Maersk Drilling:Says has signed a contract with Premier Oil Norge AS for the jack-up Maersk Guardian for a one well drilling operation, the Myrhauk exploration well, in the Norwegian North Sea.Says the duration of the contract is about 62 days.Says the contract will commence in direct continuation of the present Lundin Norway AS contract during Q3 2014.Financial details were not disclosed.  Full Article

Maersk Line sees Q2 2014 start for P3 shipping alliance despite questions-Reuters
Monday, 16 Dec 2013 05:29am EST 

AP Moeller Maersk A/S:Maersk Line, a unit of AP Moeller Maersk, still expects a planned alliance with two other container shippers, MSC Mediterranean Shipping Company S.A. and CMA CGM, to be in operation in Q2 2014, despite scrutiny from regulators and opposition from rivals-Reuters.U.S. Federal Maritime Commission has communicated it would hold a summit on Dec. 17 with its European and Chinese counterparts to discuss the planned alliance.In June the parties announced they would form an alliance with the goal of being in operation in second quarter next year.The proposed alliance would consist of around 250 vessels, with about 42 percent of the capacity coming from Maersk, giving the three shipping companies a 42 percent market share on Asia-Europe and transatlantic routes.  Full Article

AP Moeller Maersk A/S Announces Formal Investigations by European Commission towards Maersk Line
Friday, 22 Nov 2013 06:39am EST 

AP Moeller Maersk A/S announced that the European Commission has issued a press release stating that it will open formal investigation towards several shipping lines. Maersk Line has taken note of the European Commission's decision to open a formal investigation. No formal letter from the Commission on the matter has been received yet but the Company have been informed that Maersk Line will be part of the investigations. AP Moeller Maersk stated though that the Company has no reason to believe that Maersk Line has behaved in a manner not in accordance with EU competition law.  Full Article

AP Moeller Maersk A/S Raises Full FY 2013 Result Guidance and FY 2013 Net Result Outlook
Wednesday, 13 Nov 2013 01:28am EST 

AP Moeller Maersk A/S announced that the Company revises its expected result for the fiscal year 2013 to approximately USD 3.5 billion (USD 4.0 billion) from previously approximately USD 3.3 billion. Excluding impairment losses and divestment gains, the net result is now expected to be approximately USD 3.7 billion (USD 2.9 billion) from previously approximately USD 3.5 billion.  Full Article

Lundin Petroleum AB Completes Johan Sverdrup Appraisal Well 16/3-7 in License Shared with Statoil ASA and AP Moeller Maersk A/S' Subsidiaries
Thursday, 7 Nov 2013 02:30am EST 

Lundin Petroleum AB announced, through its wholly owned subsidiary Lundin Norway AS, that Johan Sverdrup appraisal well 16/3-7, located in the south-eastern part of PL501, shared with Statoil ASA and AP Moeller Maersk A/S’ subsidiaries, is completed. Appraisal well 16/3-7 is located at the south-eastern flank of the Johan Sverdrup discovery. It was drilled approximately three kilometers south-east of well 16/3-5 and four kilometers south-west of exploration well 16/3-2. The well encountered a gross reservoir thickness of 50 meters, slightly deeper to what was expected. The reservoir consists of 14 meters of sandstone of late Jurassic age and 36 meters of dolomitic carbonates of Permian age with good reservoir properties. The well showed a good common water gradient in both the sandstone and carbonates demonstrating good communication between the two reservoirs. The oil water contact was not proven in the well. However, oil and water was sampled in the uppermost part of the reservoir, at 1,925 meters below mean sea level (MSL), which indicates an oil water contact close to this level and that the well was positioned near the edge of the field. The well was drilled to a total depth of 2,075 meters below mean sea level into sediments of Permian age. Lundin Norway is the operator in PL501 with 40%-interest. The partners are Statoil Petroleum AS with 40% interest and Maersk Oil Norway AS with 20%-interest.  Full Article

AP Moeller Maersk A/S Plans To Buy New Product Tankers-Reuters
Tuesday, 15 Oct 2013 03:05am EDT 

Reuters reported that according to Danish business daily Borsen, AP Moeller Maersk A/S is planning to buy new product tanker ships. He did not give further details, but Borsen, without citing its sources, said Maersk Tankers was planning to buy 10 new long-haul and mid-range product tankers. Product tankers carry refined oil products such as gasoline, diesel and aviation fuel.  Full Article

AP Moeller Maersk A/S' APM Terminals to Construct New Terminal in Costa Rica-Reuters
Friday, 11 Oct 2013 10:44am EDT 

Reuters reported that AP Moeller Maersk A/S' APM Terminals has on October 11, 2013 officially signed a contract with Van Oord-BAM International regarding the construction of a terminal in Costa Rica. The contract is worth USD 460 million. Van Oord-BAM has won the contract for the first phase of construction of the container terminal, which is expected to start in the first quarter of 2014. Costa Rican government granted APM Terminals a 33-year concession for design, finance, construction, operation and maintenance of the container terminal in March 2011.  Full Article

AP Moeller Maersk A/S's Subsidiary Takes Delivery of New Vessel for Contract with ExxonMobil-Reuters
Thursday, 10 Oct 2013 04:14am EDT 

Reuters reported that AP Moeller Maersk A/S's Maersk Drilling has received the first of four new vessels from Samsung Heavy Industries in South Korea. The vessel is leased by ExxonMobil for a three-year contract in the Mexican Gulf. The contract is worth USD 610 million.  Full Article

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