|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||1,410.00 - 1,410.00|
|52 Week Range||1,051.22 - 1,439.72|
|Beta (3Y Monthly)||1.06|
|PE Ratio (TTM)||521.64|
|Forward Dividend & Yield||22.54 (1.60%)|
|1y Target Est||N/A|
B ella premunt hostilia, the 13th-century Italian monk Thomas Aquinas wrote: “our foes press from every side”. The foes of liberal democracies are indeed pressing from every side, and increasingly against business. Most insurance policies have “war clauses”, standard insurance that covers warlike actions.
Carolina Dybeck Happe will start in early 2020 and replaces Jamie Miller, whose departure was announced earlier this year as new Chief Executive Officer Larry Culp seeks to simplify operations and generate cash after booking billions of dollars in losses. The company is betting on Happe's experience at Maersk, where her focus was on lowering costs, as it looks to stabilize its power business, which has long been a drag on earnings. The analysts added that while Happe does not have much experience of highly levered turnarounds, her focus while working with Culp will likely be on improving margins and cash flow.
A.P. Moller-Maersk's finance chief Carolina Dybeck Happe will leave the shipping group to take up a similar position at General Electric early next year, the companies said on Monday. Dybeck Happe, who joined Maersk in January this year, is the second senior executive in two weeks to announce her departure from Maersk.
General Electric traded higher Monday after the industrial group named Carolina Dybeck Happe as its new chief financial officer following the planned departure of Jamie Miller.
Shippers are decidedly unhappy with the announcement by the European Commission (EC) that it favours extending container shipping's consortia block exemption regulation (BER) for an additional four years. "We are disappointed by that decision," said Rogier Spoel, maritime policy manager at the Dutch Shippers' Council.
Catapult, a Kansas-based platform that provides multimodal cargo rates, has announced the integration of data from the world's largest ocean container carrier, Maersk Line, into its QMS 5.0 rate-management platform. Catapult allows freight forwarders, shippers and carriers to access air, ocean and ground rate contracts via a cloud-based API-enabled system, allowing users to view, compare and quote multimodal buying and selling rates. "The integration of a deep link to Maersk's booking portal means users can instantly book the Maersk Spot [the carrier's online booking system] rates," said Catapult in a statement on Nov. 14.
Mediterranean Shipping Company (MSC) has confirmed that Soren Toft will join the company as chief executive officer. Toft's appointment was rumored last week after his resignation as chief operating officer of A.P. Moller-Maersk. "MSC is delighted that Mr. Toft will be supporting the Aponte family at the helm to ensure that the company remains a global leader in the years to come," MSC said in a press release on Monday, Nov. 18.
Mediterranean Shipping Company (MSC) and Maersk might be partners in the 2M Alliance, a vessel-sharing agreement on the Asia-Europe, trans-Pacific and trans-Atlantic trades, but the world's two largest container ship operators are also fierce competitors. Maersk announced Toft's departure to "pursue an opportunity outside the company," but the executive reportedly told Danish media he had accepted a CEO role at an unidentified company.
Could Soren Toft – who was the chief operating officer of Maersk until Nov. 11 – have jumped ship and joined the Danish shipping giant's rival MSC? Switzerland-based MSC, a partner of Maersk in the 2M alliance, refused to respond when FreightWaves asked if, as widely rumored, the 45-year old Toft will be announced as the company's new CEO next week. Diego Aponte, the son of controlling shareholder Gianluigi Aponte, is the carrier's current president and CEO.
Maersk chose profitability over market share in the third quarter as the container shipping giant bolstered its bottom line on lower revenues. A.P. Moller – Maersk (APMM) said its ocean container shipping division generated freight revenues of $6.373 million in the quarter ended September 30, down 0.9% compared to a year earlier.
European shares clocked a sixth-straight week of gains on Friday following record highs on Wall Street after bullish comments from a White House official on U.S.-China trade talks. The pan-European STOXX 600 index rose 0.4%, close to four-year highs it hit last week, with most sectors ending in the black. White House economic adviser Larry Kudlow said late on Thursday Washington and Beijing were getting close to a trade agreement, citing what he called very constructive talks with Beijing about ending a 16-month trade war.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. A.P. Moller-Maersk A/S, the world’s biggest container-shipping company, signaled it’s less optimistic about growth in its industry as trade wars dent the economic outlook.Copenhagen-based Maersk now sees global growth for the sector of 1-2% compared with a previous estimate of 1-3% for this year, it said on Friday. The company predicted growth in its own business may be “slightly lower” than the industry average, but said it will rein in costs to support profits.The more pessimistic outlook “reflects the broad-based weakening of the economic environment in all the main economies,” Chief Executive Officer Soren Skou said in the statement. “Negative effects from escalating trade restrictions also weighed on trade growth.”In an interview with Bloomberg Television, Skou said Maersk has been able to deal with the challenging environment by keeping its costs under control. He also said there’s “more to be done on the cost agenda.”Shares in Maersk opened about 2.5% higher when trading started in Copenhagen. “We have been able to more than mitigate the low demand growth scenario by taking cost down and so on,” Skou said. “But obviously for the world and for the global economy it is not good news that we are not growing faster than we are. We will continue as a company to be very disciplined in terms of our capacity deployment and that means we can keep our costs low and therefore we also can continue to grow earnings despite the fact that we are in a very weak growth scenario.”Kudlow Says Phase One China Deal Down to the ‘Short Strokes’:White House economic adviser Larry Kudlow said negotiations over the first phase of a trade agreement with China were coming down to the final stages, with the two sides in close contact. Kudlow said a deal was close though “not done yet.”Maersk raised its full-year profit forecast on Oct. 21. The company said back then that its container-line business had performed better than expected despite weak global trade growth fanned by tensions between U.S. President Donald Trump and China. On Friday, the company said it still sees full-year operating profit, or Ebitda, of about $5.4 billion to $5.8 billion.Still, amid protracted tensions between the U.S. and China, Maersk said it’s bracing for a “continued slowing in global manufacturing and global export orders.” The company is projecting industry growth of 1-3% for 2020, but said that the “continued weakening of global sentiment, above all in the manufacturing sector, reduces the likelihood of a growth pick-up” next year.“Aside from the cyclical slowing of the global economy, the main risks to global container demand relates to the U.S.-China trade negotiations. Other risks to the outlook relate to the effectiveness of fiscal and monetary stimuli in major economies, such as the U.S. and China,” Maersk said. “Finally, the outcome of the Brexit negotiations poses a risk to UK and European container trade.”(Adds CEO interview, share price.)\--With assistance from Morten Buttler.To contact the reporter on this story: Christian Wienberg in Copenhagen at email@example.comTo contact the editor responsible for this story: Tasneem Hanfi Brögger at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
A.P. Moller-Maersk said on Friday prospects for a pick-up in demand for seaborne container traffic were clouded by an uncertain economic outlook but the shipping group's focus on driving down costs helped its shares higher. The world's biggest container shipping firm said global container demand was expected to grow by 1%-3% next year compared with 1%-2% in 2019. Despite headwinds from the U.S.-China trade war, Maersk shares received a boost last month after the company raised its expectations for 2019 profit.
Wall Street looks poised to test another series of fresh record highs Friday as global investors react to bullish comments on U.S.-China trade talks from a key White House adviser and continue to push equities higher in major markets around the world.
With 90% of its revenues coming from the movement of containers, Maersk (CSE: AMKBF) faced a challenge: How do you get closer to the end customer when your job is to move containers from port to port? The shipping giant is trying to answer this question with its Growth investment fund, started in 2017. "I think historically, our industry has not been very focused on the customer," said Sune Stilling, head of Growth for Maersk.
ZigZag, a London-based returns logistics startup, has raised strategic investment with Maersk Growth, the investment arm of shipping giant A.P. Møller – Maersk. The startup cashes in on the returns logistics economy, helping e-commerce retailers manage their returns without complications. The rise of e-commerce has parallelly led to the growth of product returns — a bitter pill to swallow for e-retailers, but an unavoidable part of an e-commerce transaction nevertheless.
Deutsche Bank Loses Another Billion Or So “According to Plan” Deutsche Bank (NYSE:DB) lost another $924 million the past quarter, worse than expected. Revenue is also down by €900 million, with falls in every segment. In its defense, CFO James von Moltke said that the loss is “entirely in line with our plans”. How good […]The post Market Morning: Deutsche Down, GE Up, Shipping Cost Tremors, FOMC On Deck appeared first on Market Exclusive.
Maersk is teaming up with big shippers to test a new marine fuel made from plant fibers that aims to mitigate ocean freight's contribution to climate change. The Copenhagen-based company said the pilot project will include automotive logistics company Wallenius Wilhelmsen, Copenhagen University, BMW Group, H&M Group, Levi Strauss & Co. and Marks & Spencer. Lignin is a plant fiber and a byproduct of ethanol production and pulp and paper mills.