|Bid||8,375.00 x 0|
|Ask||8,385.00 x 0|
|Day's Range||8,365.00 - 8,550.00|
|52 Week Range||7,225.00 - 10,230.00|
|Beta (3Y Monthly)||1.09|
|PE Ratio (TTM)||49.84|
|Forward Dividend & Yield||150.00 (1.79%)|
|1y Target Est||12,250.00|
Maersk, the largest container ship and supply vessel operator in the world, is continuing its preparations to meet new low sulfur fuel regulations following a deal with New Jersey-based PBF Logistics LP to supply the fuel to Maersk Oil Trading, a subsidiary of AP Moeller-Maersk. Maersk has opted out of fitting scrubbers to most of its fleet, meaning that it needs to secure low sulfur fuel supplies globally for its vessels to comply with the new regulation. As a result, Maersk has embarked on a series of strategic agreements with fuel storage and supply companies that will ensure its fleet is able to operate legally after the January 2020 implementation of IMO 2020.
Maersk expects to grow its customs house brokerage business both through acquisition and organically. Maersk said that it will be looking for more market opportunities to develop its customs brokerage business further, following the acquisition of Vandergrift Inc., which was announced yesterday, February 12. Based in Denmark, Maersk is the world's largest shipping company.
French container-shipping major CMA CGM is pursuing a $1.65 billion deal for full control of Swiss-based Ceva Logistics AG in an effort to add revenue streams from freight logistics to its core ocean-transportation business. On Tuesday, CMA CGM opened a public tender offer of 30 Swiss francs ($30.25) a share for the roughly two-thirds of Ceva that it doesn’t already own. Ceva’s board of directors said last month that the offer “provides a fair exit opportunity” for those who want to get cash for shares but that it believes investors could realize “a higher value” by retaining their holdings in the business under CMA CGM ownership.
Danish liner operator Maersk has taken another step on the road to becoming an integrated logistics provider with the announcement today of the acquisition of the New Jersey-based customs house broker Vandegrift Inc. "Customers have been asking us to simplify the complexity of their global supply chains and reduce their risk," said Klaus Rud Sejling, Head of Global Logistics and Services at Maersk. According to a Maersk statement, customs house brokerage is a "key component" in its long-term strategy to provide door-to-door solutions for its customers.
Maersk Line, the world's largest container shipping company, has become one of the initial entrants into National Waterway-1, India's first commercial inland waterways laid out across the Ganges River (Ganga in the Hindi language) in northern India. Despite having several major rivers running across the length of the country, India has struggled to build viable inland water transport (IWT) networks – either due to a lack of a cohesive vision or to a paucity in infrastructure funds allocated from the central government.
A/S has acquired Clark, N.J.-based customs broker Vandegrift Inc. as the ocean container line pushes further into land-based logistics services and operations. “The first part is about increasing our size and scope just based on getting larger,” said Jeff Hammond, Maersk’s global head of customs brokerage. Maersk Line, the world’s biggest ocean container operator by capacity, counts 65,000 global customers and handles 20% of the world’s ocean container trade.
The U.S. East Coast and Gulf Coast ports saw strong growth in container volumes last year thanks to 18 months of a wider Panama Canal and the strong U.S. freight market. U.S. East Coast and Gulf Coast ports saw container volumes rise 7 percent and 9 percent, respectively, year-to-date through last November. Josh Hurwitz, a senior consultant at Moffatt & Nichol, told attendees at last week's meeting of the American Association of Port Authorities in Tampa that up to 1.2 million twenty-foot equivalent (TEU) containers coming into East and Gulf Coast ports could shift to the West Coast due to new rules that mandate commercial vessels use low-sulfur marine fuel by 2020.
Virtual mariner "Captain Peter" is the latest addition to the Maersk reefer fleet, with the new addition to the remote container management (RCM) system, first launched in September 2017, still undergoing tests with selected customers. Captain Peter will offer support to customers with cargo in reefer boxes giving departure and arrival information as well as temperature and atmospheric conditions inside the container. Captain Peter will be added to the improved system this year.
All-in rates on the way out as new surcharge formulas on the way in as ocean carriers work on ways to share cost burden with customers. As China's Lunar New Year starts a seasonal slowdown in ocean shipping, containership lines and their customers start negotiating contract freight rates for the coming year. One of the biggest sticking points in talks this year will be fuel surcharges, particularly in light of the switch away from high-sulfur bunker (marine) fuel to low-sulfur marine fuel.
The company said that its Maersk Drilling unit swung to a full-year net profit in 2018 as the bottom line was boosted by $810 million from the reversal of part of 2017’s impairment losses. Net profit at the unit totaled $941 million from a loss of $1.52 billion, with revenue slipping 0.7% to $1.43 billion. Maersk, which operates the world’s largest container-shipping line, said last year that it would seek a spinoff of Maersk Drilling, after selling its energy division and other noncore assets as part of its efforts to restructure and become a global logistics player.
Maersk CEO looks to land for next deals. The Port of Savannah is adding crane capacity and yard handling equipment in a bid to attract freight from the largest containerships on the water. During a conference, Georgia Ports Authority chief Griff Lynch said Savannah saw a 28 percent jump in teu handled in January, reaching a monthly high of 433,975 teu.
New partnerships are emerging in the global hunt for oil discoveries, with some explorers essentially offering an outsourcing service for the riskiest part of the energy business. Central to this new strategy are efforts to find an ally earlier in the process of discovering new fields, and on a larger scale, in order to save money as budgets remain tight after the oil price slump of 2014. While giants such as Total and Eni revamp exploration in-house, BP and Royal Dutch Shell have been more open to having partners do the heavy lifting of exploration in certain geographies.
Top U.S. importers stocked up heavily on Chinese goods in the fourth quarter before new import tariffs - part of an ongoing Sino-U.S. trade war - would take effect, the head of shipping giant A.P. Moller-Maersk said on Thursday. "It was very clear that U.S. imports from China rose significantly in the fourth quarter, while exports to China fell. Maersk is the world's biggest container shipper with around 750 vessels.
India's antitrust watchdog has ordered Denmark's A.P. Moller-Maersk and Dubai's DP World to withdraw certain customer advisories which it said could hamper growth of the country's largest container port in Mumbai, a document seen by Reuters showed. The Competition Commission of India (CCI) last year ordered a probe into suspected antitrust violations by DP World and Maersk units at the terminals they operate at state-owned Jawaharlal Nehru Port Trust (JNPT). Handling 66 million tonnes of cargo in the last fiscal year to March, JNPT is critical to India's international trade.
DONGGUAN/HONG KONG (Reuters) - Wang Zhishen was thrilled when Danish shipper A.P. Moller-Maersk gave him two months' paid leave, relishing the chance to spend time with his wife and daughters in China's remote northwestern Gansu province. Wang said he was one of 2,000 workers laid off at the company's Dongguan transport container factory which has been idle since early December, as the impact of a trade war between Washington and Beijing ripples through industries from logistics to autos and technology. "I was sure it was a holiday," said Wang, 35, who said he worked as a painter at Maersk for nearly six years until he was sacked two weeks ago via China's WeChat messaging service.
North American shippers facing congested ports may get some relief as the world's largest shipping line promises to ease the reuse of empty marine intermodal containers. Maersk is introducing an automated "street turn" service for its intermodal containers at U.S. and Canadian ports. After the first shipper empties a marine container, a street turn allows a second shipper to reuse the box for export without involving a marine terminal or yard.
The ocean carriers appear to be hitting peak ship in terms of fleet size as the carrier's focus now turns to being more horizontally integrated along the supply chain. Among major carriers, only Korea's Hyundai Merchant Marine has shown an appetite for expanding its fleet, with a $2.6 billion order, underwritten by the Korean government, for 20 mega container ships. With no reciprocal orders coming from competitors, Drewry researcher Simon Heaney says ocean carriers are showing better capacity discipline.
Zim, the Israeli-owned container ship operator and the 2M Alliance, which consists of Maersk Line and Mediterranean Shipping Company (MSC), have announced a new vessel sharing deal that is of more apparent significance to Zim than the alliance. In an agreement that will see the capacity on the trans-Pacific (TP) strings, the TP8 and TP9, increased by around 500 twenty-foot equivalent units (TEU). The TP8 service will be operated by four Zim vessels and three 2M ships, while the TP9 will have only 2M vessels on the rotation.
Clean-up operations on the islands off the Dutch coast have started, following the loss of around 300 containers from the Mediterranean Shipping Company's MSC Zoe, a 19,000 twenty-foot equivalent unit (teu) mega-container ship. The vessel was en route to Bremerhaven in Germany on January 2 and was being buffeted by a Force-10 gale when several container stacks collapsed, with many boxes falling into the sea. At least three containers carrying chemicals were reportedly lost, with part of a cargo of peroxide washing up onto the beach at Schiermonnikoog.
HONG KONG—Container ships have gotten ever bigger in recent years, with some about as long as the Empire State Building is tall. Now, A.P. Moller-Maersk A/S is trying to make moving goods on these megaships faster. Maersk introduced these megaships in 2013, leading to an enormous leap in container shipping capacity as other carriers followed with their own giant vessels.
An Indian court has declined to quash or stall an antitrust investigation into Dubai-based port operator DP World's alleged anti-competitive behaviour at the country's largest container port in Mumbai, three sources told Reuters on Wednesday. The Competition Commission of India (CCI) last month said it suspected antitrust violations by DP World and Denmark's A.P. Moller-Maersk at the terminals they operate at state-owned Jawaharlal Nehru Port Trust (JNPT).