|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||1,175.45 - 1,175.45|
|52 Week Range||1,051.22 - 1,485.67|
|Beta (3Y Monthly)||1.24|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||22.54 (1.92%)|
|1y Target Est||10,805.20|
Ketamine valued at $42.3 million (Rupee300 crore) has been seized by the Indian Coast Guard (ICG) after a successful operation in the Indian Ocean. A combined sea-air operation led to the ICG vessel Rajveer intercepting the cargo vessel near Car Nicobar Islands in Indian waters after it was spotted acting suspiciously by a surveillance plane. ICG told local media the intercepted shipment belonged to a drug cartel with a maritime network spanning the Indian Ocean.
Leading ports, banks, oil and shipping companies on Monday launched an initiative which aims to have ships and marine fuels with zero carbon emissions on the high seas by 2030, in another step by the maritime sector to reduce CO2. International shipping accounts for 2.2% of global carbon dioxide (CO2) emissions and the U.N.'s International Maritime Organization (IMO), has a long-term goal to cut greenhouse gas emissions by 50% from 2008 levels by 2050. Sixty commercial groups including shipping companies such as A.P. Moller Maersk, which owns the world's biggest container shipping line, commodities players such as COFCO International, Cargill, Trafigura, mining group Anglo American as well as banks such as Citigroup, ABN AMRO and Societe Generale have committed to the "Getting to Zero Coalition".
U.S. Southeast ports dodged the worse of Hurricane Dorian as it passed through the region. The ports of Wilmington, North Carolina and Norfolk, Virginia remain closed as of Friday, Sept. 6. Hapag-Lloyd said four container ships in THE Alliance arrived at the port of Savannah on Friday.
Does container shipping have a drug problem? After a string of busts in the U.S. in recent months, attention has now switched to the U.K., where authorities have seized 1,279 kilograms of heroin with a street value of £130 million ($148 million). The drugs were found Aug. 30 by officers from Border Force and the National Crime Agency (NCA) in a container stowed on the Maersk Gibraltar at the Port of Felixstowe.
With most U.S. and European oil majors side-lined, the huge South Pars Oil Layer project will most likely go to a Russian or Chinese partner
International Federation of Freight Forwarders Associations (FIATA) has called for urgent dialogue with major carriers in the wake of recent moves by shipping lines to impose penalties on shippers that mis-declare cargoes. Maersk, Hapag-Lloyd, HMM and OOCL have announced plans to impose penalties on shippers.
CMA CGM said its container ships will not traverse Arctic waters as part of a pledge to protect the region's environment. The world's superpowers are eyeing the Arctic for oil and mineral exploration, as well as increasing use of the Northern Sea Route along the coast of Siberia. Last year, China declared itself a "Near-Arctic" state as it outlined its own policy for use of the Northern Sea Route.
Maersk, the world's largest container line, has announced a partnership with Indian digital trucking marketplace BlackBuck, marking the shipping company's entry into the Indian online containerized trucking market. BlackBuck is a heavyweight in the Indian freight digitalization scene, having enrolled roughly 300,000 active trucks on its platform. This collaboration would help Maersk to provide its customers hassle-free movement of export and import containers deep into the Indian countryside.
Atlas Van Lines is hoping to streamline the moving process for both residential and corporate clients through its new SimpliCity powered by Atlas app. SimpliCity eliminates this process, shifting the power to schedule the move back to those needing the service, not the moving company providing the service. It takes a different set of moving tools to meet those expectations and provide a simple and smooth moving experience," said Jack Griffin, chairman and CEO of Atlas World Group.
Carolina Dybeck Happe, the company's chief financial officer, said in a call with investment analysts that the company has in total around 6,000 people working in information technology, about half of whom are contractors. The company is looking at increasing the share working directly for Maersk "in the more strategic areas, and the important areas, and then keep a healthy balance of contractors for the rest," she said. Adam Banks, Maersk's chief technology and information officer (CTO), told the Danish newspaper Borsen in July that the company was hiring 26 new employees a week and that in a year and a half it planned to have 4,500-5,000 IT employees.
Earlier today in Europe, Danish shipping giant A.P. Moller–Maersk reported a massive increase in second quarter underlying profit and earnings before interest, tax, depreciation and amortization. Maersk today reported slight growth in second quarter revenues to US$9.6 billion "which is on par with last year," the group said. The group also attributed increased profitability to strong operational performance in its ocean business and also to an average increase in sea freight rates of 1.4 percent along with a volume increase of 1.4 percent.
A.P. Moller–Maersk (OTCMKTS: AMKBY) reported a sharp improvement in second quarter earnings when compared to the same period last year despite a relatively small increase in revenue, and said trade tensions between the U.S. and China have had a limited impact on its business. Søren Skou, the company's chief executive officer, characterized the second quarter as one of "solid progress" noting that earnings before interest, tax, depreciation and amortization (EBITDA) was about $1.36 billion in the second quarter of 2019, 17 percent more than in the second quarter of 2018. Speaking to securities analysts about the company's results during a teleconference, Skou spent the first several minutes discussing U.S.-China trade tensions.
Maersk’s stock surge was short-lived on Thursday as the world’s largest container shipping company warned the escalating trade war could hit business.
A.P. Moller-Maersk warned a trade war between the United States and China could curb container traffic this year after the world's largest container shipping company beat second-quarter profit expectations. Maersk said the escalating trade dispute between Washington and Beijing could limit growth in global container traffic to the lower end of its 1% to 3% guidance range this year, after growth of around 2% between April and June. Newly imposed tariffs between the United States and China combined with additional U.S. tariffs due to be implemented later this year could remove up to 1.5% of global container demand in 2020, Maersk said.
Two hundred and thirty years ago on August 5, 1789, the newly formed U.S. Customs Service processed the first inbound vessel from overseas in the Port of New York. A Fire Department of New York tugboat salutes the Maersk Kinloss on the 230th anniversary of the first inbound vessel arriving in the U.S. to pay customs duty. Import duty was obtained from New York importer and Bank of New York cashier William Seton, who paid $774.41 to the U.S. government for goods that were transported on board the two-masted sailing ship Persis.
It's easy to forget amidst the rickety beach shacks, reggae bands and palm fronds, but what happens in the Caribbean is enormously important to the global container shipping sector. The Caribbean is, after all, the crossroads of the Americas. Mainline east-west services from Asia to the U.S. East and Gulf Coast ply the Caribbean after transiting the Panama Canal, as do high-volume service strings connecting the west coast of South America (WCSA) to Europe, and the north-south services linking the U.S. with Brazil.
Maersk's fight to bring automation to its largest North American marine terminal is getting support from shippers and non-ocean carriers concerned about the impact on the environment and the precedent of government overreach into the future of freight. The world's biggest shipping line faces a do-over as the Los Angeles Board of Harbor Commissioners plans yet another vote on July 11 on its coastal development permit.
Hapag-Lloyd (FSE: HLAG) and Ocean Network Express (ONE) says they will join the TradeLens blockchain platform developed by Maersk and IBM (NYSE: IBM). The fifth- and sixth-largest carriers respectively, Hapag-Lloyd and ONE join CMA CGM and Mediterranean Shipping Company (MSC) in using the platform. TradeLens now extends to more than half of the world's ocean container cargo.