|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||1,111.80 - 1,111.80|
|52 Week Range||1,054.44 - 1,573.00|
|Beta (3Y Monthly)||1.29|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||24.83 (1.81%)|
|1y Target Est||10,805.20|
Shipping group A.P. Moller-Maersk said on Friday it is in talks with Russia's state-owned icebreaker operator to send more goods via the Arctic, which is becoming more accessible as climate change reduces the sea ice. Russia has made developing the so-called northern sea route (NSR) - which requires new ports and heavy icebreakers to move goods - a priority, with supporters dubbing the route the northern Suez Canal. Last summer, Maersk carried out what it said was a one-off trial, becoming the first to send a container ship - loaded with Russian fish and South Korean electronics - on the route.
French oil major Total has begun production at its $4bn Culzean gasfield in the UK North Sea, the company said on Tuesday. The field was discovered in 2008 and is expected to contain the equivalent of ...
Last year IBM and Danish shipping conglomerate Maersk announced the limitedavailability of a blockchain-based shipping tool called TradeLens
Mediterranean Shipping Co (MSC) and CMA CGM, two of the world's biggest container shipping groups, are to join market leader Maersk in a blockchain platform aimed at limiting a costly paper trail in the industry. With MSC and French-based CMA CGM, the second- and fourth-largest container shipping companies, joining the platform, nearly half of all cargo being shipped by sea - which accounts for 90% of traded goods worldwide - will be tracked using it. More than 100 companies, ports or authorities, such as Procter & Gamble and U.S. Customs and Border Protection, have signed up for the platform led by Copenhagen-based Maersk, the world's largest container shipping company.
Two of the world's biggest shipping groups will join a Maersk led blockchain platform aimed at boosting efficiency and limiting the enormous paper trail of global container shipping. With Mediterranean Shipping Co (MSC) and CMA CGM, the second- and fourth-largest container shipping companies, joining the platform, nearly half of all cargo being shipped by sea - which accounts for 90% of traded goods worldwide - will be tracked using it. More than 100 companies, ports or authorities, such as Procter & Gamble and U.S. Customs and Border Protection, have signed up for the platform led by Copenhagen-based Maersk, the world's largest container shipping company.
Improved vessel utilisation is the key to maintaining profitability in what is expected to be a challenging market according to Soren Skou, Chief Executive Officer of Maersk. The company has maintained a tight rein on capital expenditure over the past year with no large terminal projects or costly new ships ordered and this policy will continue until at least 2020, said the company. The container carrier currently has around 4 million twenty-foot equivalent (TEU) of capacity in its vessel operations, and with the container trade expected to grow by 1 percent to 3 percent, there would ordinarily be some expansion in capacity.
A.P. Moller-Maersk , the world's largest container shipping company, warned on Friday that trade tensions and an economic slowdown are slowing growth in global freight. Maersk, which is seen as an indicator of global trade patterns, cut its forecast for global growth in container traffic this year due to the trade dispute between the United States and China. "The recent escalation of the trade war induced by an increase in tariff rates and threats of implementing additional tariffs could take global container trade growth to the lower end of the 1-3% interval (range)," CEO Chief Executive Soren Skou said, referring to a forecast range it had given three months ago.
Shares in the world’s biggest shipping company slumped on Friday after its chief executive officer started discussing the fallout of global trade tensions on his industry. A.P. Moller-Maersk A/S fell almost 5% in Copenhagen trading, as CEO Soren Skou told analysts and reporters that 2019 will be the year of the trade war. Maersk, which transports about a fifth of the world’s manufactured goods by sea, is struggling to cope with the threat that escalating trade tensions pose to its business.
Danish shipping group A.P. Moller-Maersk on Friday posted first-quarter profit close to expectations and warned that trade tensions and slowing economic growth constitute "considerable uncertainties."
Danish shipping group A.P. Moller-Maersk on Friday posted first-quarter profit close to expectations and warned that trade tensions and slowing economic growth constitute "considerable uncertainties". ...
It took Total's chief executive and a small group of advisers just days to line up the French energy major's biggest acquisition in almost two decades when it agreed to buy the African assets of U.S. firm Anadarko. Patrick Pouyanne pounced after Occidental Corp trumped Chevron's $33 billion bid for Anadarko in April with an offer that includes raising financing by selling some of Anadarko's operations worth up to $15 billion. By keeping those in the know to a minimum, the French CEO was able to stay flexible in negotiations, take a swift decision and ensure there were no leaks until the binding deal worth $8.8 billion was announced on Sunday, a Total source said.
FreightHub, the European digital freight forwarder, has raised $30 million in Series B financing. Leading the round is Rider Global -- a venture fund said to be founded by logistics experts -- along with Maersk Growth, the corporate venture arm of container shipping giant A.P. Moller-Maersk. Existing investors Northzone, Rocket Internet's Global Founders Capital (GFC), and Cherry Ventures also participated.
Putting export-import documents online may make a difference between container arriving to customer on time or sitting in a warehouse. Maersk is moving to a more frictionless future in ocean freight with online customs clearance in seven European countries. Customs clearance, an add-on feature of Maersk's online ocean freight quoting system, raises the "table stakes" for what ocean carriers are expected to provide customers going forward.
Korea's only remaining container ship line may want to go beyond its slot sharing deal, but Western carriers wary on subsidized shipping. The new chief of South Korea's container shipping company, Hyundai Merchant Marine (HMM), is looking to get in good stead with the world's largest container shipping alliance, 2M, as his company faces questions about its survival. Jae-hoon Bae was appointed to head Hyundai one month ago, largely at the request of the company's largest shareholder, state-owned Korea Development Bank (KDB).
A group of the world's biggest container ship companies aims to end the Tower of Babel built over the last half century in ocean freight. The Digital Container Shipping Association (DCSA), comprised of Maersk, Mediterranean Shipping Company (MSC), Hapag-Lloyd, and Ocean Network Express (ONE) said it is officially open after the U.S. Federal Maritime Commission gave its permission to allow the carriers to talk amongst themselves.
The board that heads the Port of Los Angeles will vote today on a relatively small project, but one with ramifications well beyond the port's gates. The board is scheduled for a rehearing today of an appeal to deny the APM Terminals subsidiary of Maersk a permit to install electric charging stations, scaffolding and additional equipment at its Pier 400 facility. The International Longshore and Warehouse Union (ILWU) asked the board to deny the permit, saying it would be the first step to automating their members out of work.
Could this be the year ocean carriers get shippers to pay up? The world's container ship lines want to go cold turkey on non-remunerative ocean freight rates. Alison Leavitt, managing director of the Wine and Spirits Shippers Association, told a crowd at the Coalition of New England Companies for Trade that shippers should prepare for ocean carriers to hold the line on rates that can better cover their costs this year.
Australian start-up IncoDocs has successfully raised Australian $1.2 million ($855,000) in seed funding from three major investors, including Maersk Growth, Transition Level Investors and Blackbird Ventures, the company announced today. Based in Brisbane, Australia, IncoDoc's vision is to provide all companies, regardless of their size, the opportunity "to participate and thrive in global trade." To achieve that IncoDocs has developed a system that will allow small- and medium-sized enterprises to take part in the digital revolution by simplifying and automating the complex documentation process. "At IncoDocs, we have experienced first-hand the challenges that (small and medium shippers) face in global trade.
Livingston International has joined TradeLens, the blockchain shipping initiative developed by Maersk and IBM. The Canadian customs broker and Blockchain in Transport Alliance (BiTA) member will take part in a pilot program involving the Canada Border Services Agency (CBSA). Livingston will be responsible for inputting and accessing shipment information, and streamlining procedures.
The number two man at Maersk is departing as the Danish company largely completes the divestment of its energy business. Claus Hemmingsen, a 38-year veteran of Maersk, will depart from the world's largest shipping company by the end of June, the company said today. In addition to sitting behind Chief Executive Officer Soren Skou, Hemmingsen headed Maersk's energy division since 2016.
Chairman makes mea culpa on previous energy bets as he pledges the focus will be making container shipping simple and easy. Jim Snabe, the chairman of the board of directors for Maersk, laid bare the difficult straits that faced the world's largest shipping company as it jettisons legacy businesses to make a hard tack toward becoming a leading integrated transportation-and-logistics company. Snabe, who took the chairman's role in 2017, said the company's poor performance last year reflected the ongoing challenges facing the container shipping industry overall.