|Bid||8,580.00 x 0|
|Ask||8,600.00 x 0|
|Day's Range||8,475.00 - 8,605.00|
|52 Week Range||7,225.00 - 12,030.00|
|PE Ratio (TTM)||104.05|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||12,250.00|
COPENHAGEN (Reuters) - A.P. Moller-Maersk (MAERSKb.CO) will merge Damco Supply Chain Services and Maersk Line's Ocean Product, the Danish shipping giant announced on Wednesday, as it seeks to offer customers ...
The cost of delivering world trade is about to go up. A.P. Moller-Maersk A/S, the world’s largest container shipping line, said Monday that customers using its giant box ships will have to pay separately for fuel from 2020, when prices are expected to surge because of tougher environmental standards. To get customers ready for the fuel upgrade, the Copenhagen-based company will from next year start to break out the fuel cost when charging its customers for delivering goods in steel containers across thousands of miles of ocean.
SINGAPORE/COPENHAGEN (Reuters) - A.P. Moller-Maersk (MAERSKb.CO), the world's biggest container shipping group, will add devices to reduce harmful exhaust emissions to some of its ships ahead of new global fuel regulations starting in 2020. To combat air pollution, the International Maritime Organization (IMO), the United Nations' shipping agency, has set global regulations to cap the sulphur content in marine fuels, known as bunkers, at 0.5 percent down from 3.5 percent now. Shipowners could meet the new regulations by installing sulphur-stripping exhaust cleaning systems, known as scrubbers, and continue to burn cheaper high-sulphur fuel oil (HSFO).
Measuring 30 meters in height and five meters in diameter, the rotor sails were installed on a ship in Rotterdam. There are now three vessels in daily commercial operation using Norsepower's rotor sails, according to its CEO. Two 30-meter-tall rotor sails have been installed on a Maersk Tankers vessel in an attempt to reduce fuel consumption and emissions.
Marine fuel prices are soaring and the shipping industry is looking for ways to harness ocean winds to power oceangoing vessels. Danish giant Maersk Tankers said Thursday it has installed 100-foot-tall rotating cylinders on one of its product tankers, adding devices that are effectively high-tech sails that could cut the vessel’s fuel bill by up to 10%. If the system proves out during testing, Maersk could use the technology on dozens of ships in its 164-tanker fleet.
Maersk Tankers is testing the use of wind power to fuel its ships, a new technology it says can cut fuel consumption by up to 10 percent and help the industry reduce polluting emissions. The company has installed two 30-metre tall metal cylinders on board the Maersk Pelican, a Long Range 2 (LR2) product tanker vessel. If successful, Maersk Tankers, which shipping giant Maersk (MAERSKb.CO) sold last year to its controlling shareholder and Japan's Mitsui & Co for 1.71 billion, plans to install the cylinders on half its 164 vessels.
Drilling rig contractor Maersk Drilling will provide strong competition for its peers when it spins off from the AP Moller-Maersk conglomerate next year.
A Maersk vessel loaded with Russian fish and South Korean electronics will next week become the first container ship to navigate an Arctic sea route that Russia hopes will become a new shipping highway. The Arctic voyage by the 3,600 20-foot container capacity Venta Maersk is the latest step in the expansion of the so-called Northern Sea Route which is becoming more accessible to ships as climate change reduces the amount of sea ice. The brand new Venta Maersk, one of the world's largest ice-class vessels, will also collect scientific data, said Maersk, underlining that the voyage is a one-off trial for now.
A Maersk vessel loaded with Russian fish and South Korean electronics will next week become the first container ship to navigate an Arctic sea route that Russia hopes will become a new shipping highway. The Arctic voyage by the 3,600 20-foot container capacity Venta Maersk is the latest step in the expansion of the so-called Northern Sea Route which is becoming more accessible to ships as climate change reduces the amount of sea ice.
Soren Skou, who runs the world’s biggest shipping company from Copenhagen, said the fallout of the current protectionist wave “could easily end up being bigger in the U.S.” Tariffs could slow global annual trade growth by 0.1 to 0.3 percent, though for the U.S. the effect could be “perhaps 3 or 4 percent,” he said at a presentation at Maersk’s headquarters on Friday. The company transports about 20 percent of the world’s seaborne consumer goods, putting it in a unique position to gauge the fallout of tariffs on trade flows. Maersk has in the past broken with its culture of steering clear of any political debate to criticize the trade policies of U.S. President Donald Trump.
A.P. Moeller-Maersk A/S said it will seek a spinoff next year of its offshore drilling unit, which it has been trying to sell as it battles a painful slump in its core shipping business. The industry as a whole is contending with rising fuel costs and depressed freight rates. Maersk cut its full-year earnings forecast last week, with core profit expected to come in at $3.5 billion to $4.2 billion, compared with previous guidance of $4 billion to $5 billion.
A.P. Moller-Maersk (MAERSKb.CO) said on Friday it would spin off its offshore drilling operation and list it in Copenhagen next year, the latest move by the Danish shipping company to focus entirely on transport and logistics. Maersk, which cut its full-year profit outlook this month, sold Maersk Oil to French oil major Total (TOTF.PA) last year in a $7.5 billion deal as part of a restructuring under Soren Skou, who became chief executive in 2016. Skou used to head Maersk's container business and is a long-time veteran of the Danish firm whose mainstay industry is emerging from a fierce price war as too many ships chased too little business, denting profitability.
COPENHAGEN, Denmark (AP) — Danish shipping group A.P. Moller-Maersk says it swung to a profit in the second quarter but cautioned about uncertainty related to global trade amid U.S. sanctions on major economies.
Soren Skou, chief executive officer at AP Moller-Maersk, discusses the spinoff of the drilling unit, the outlook for drilling, earnings, global trade, how the trade tariffs may impact his third-quarter ...
Danish shipping company A.P. Moller-Maersk MAERSKb.CO said on Friday it would spin off its offshore drilling operation and list the unit in Copenhagen next year. The announcement came as Maersk confirmed preliminary second-quarter EBITDA of $883 million. Danish shipping company A.P. Moller-Maersk MAERSK.B-DK said on Friday it would spin off its offshore drilling operation and list it in Copenhagen next year as it focuses entirely on transport and logistics.
Danish shipping company A.P. Moller-Maersk said on Friday it would spin off its offshore drilling operation and list the unit in Copenhagen next year. Maersk also said in a statement that following the demerger of Maersk Drilling, a "material part" of its remaining shares in French oil major Total will be distributed to its shareholders. The Danish company cut its full-year profit outlook this month and as part of a major restructuring last year sold its oil and gas business, Maersk Oil, to Total in a $7.5 billion deal that saw it take an equity stake in the French firm.
John B. Kornerup, head of sustainable strategy at A.P. Moller-Maersk, explains the steps the shipping giant is taking toward sustainability.
Container and shipping giant Moller-Maersk says it's to spin off its offshore drilling operation and list it in Copenhagen next year as it focuses entirely on transport and logistics. As David Pollard reports, the Danish company, which cut its full-year profit outlook this month, last year sold Maersk Oil to French oil major Total in a $7.5 billion deal as part of its restructuring.
Aug.17 -- Soren Skou, chief executive officer at AP Moller-Maersk, discusses the spinoff of the drilling unit, the outlook for drilling, earnings, global trade, how the trade tariffs may impact his third-quarter numbers and his outlook for freight rates. He speaks on Bloomberg Daybreak: Europe."