|Bid||7,482.00 x 0|
|Ask||7,488.00 x 0|
|Day's Range||7,366.00 - 7,506.00|
|52 Week Range||6,716.00 - 9,034.00|
|Beta (3Y Monthly)||1.37|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||150.00 (2.04%)|
|1y Target Est||1,548.30|
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.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.The chief executive officer of the world’s biggest shipping line says he’d like to meet with U.S. President Donald Trump to explain the merits of free trade.Soren Skou, the CEO of A.P. Moller-Maersk A/S, delivered a set of quarterly results on Thursday that show his company has so far managed to ride out the trade war that’s raging between the U.S. and China. But he also warned that the outlook remains uncertain, with little sign of a deal being struck between the world’s two biggest economies any time soon.It’s not yet clear whether Skou will be among business leaders invited to meet with Trump when he’s in Denmark on Sept. 2-3. But if he is, the Maersk CEO says he “would like to talk with the president about free trade and how it creates wealth.”Speaking at a press conference in Copenhagen on Thursday, Skou said that “it’s the U.S. which has built the free trade system we have today, and I would like that we get back to that.” He also noted that Maersk handles about a tenth of the U.S.’s container trade, and that the company is an important customer of the country’s armed forces.Maersk used its second-quarter results to reassure investors it can keep its full-year profit outlook, as it did better last quarter than analysts had expected thanks to continued solid demand among consumers.The shares jumped over 7% when the market opened in Copenhagen, then dropped in the middle of the trading day after China said it was ready to take retaliatory steps against the U.S. for its latest tariffs. Maersk recovered later in the day and was trading about 0.9% higher by 3:30 p.m. local time.Speaking to Bloomberg Television, Skou said that that despite the trade stand-off between China and the U.S., Maersk has been able to “manage the situation quite well.”“For our business, what decides demand, that’s not tariffs. That’s the consumer and consumer spending. The U.S. consumer is in a relatively good mood. Salaries are increasing. Confidence still remains relatively good,” Skou said. “Global demand has grown so far,” and “we expect that to continue for the rest of the year.”The company, which controls a fifth of the globe’s container fleet, reported an operating profit, or Ebitda, of $1.36 billion, beating the average analyst estimate of $1.24 billion. Maersk said synergies of $1 billion from combining its container transport activities came sooner than expected, which drove profit in the quarter. Click here for more on the earnings.Maersk said global container trade grew by around 2% in the quarter from a year earlier, which is in line with its expected full-year growth of 1-3%. The development shows that the “soft momentum” continued from the first quarter, “reflecting a broad-based slowdown in all the main economies. Negative effects from escalating trade restrictions also weighed on trade growth,” the company said.As to the prospect of resolving the current trade tensions between China and the U.S., Skou said that, “right now, there’s not much that suggests a deal will be done anytime soon, as far as we can see. It seems to be going in the other direction.”What Maersk says about tariffs:“The previous trade restrictions, imposed during 2018 and mainly led by the U.S. and China, have reduced bilateral trade between the two countries, and it also led to shifts in trade structures. So far, U.S. importers have shifted imports away from China to other countries such as Vietnam, Korea, Thailand, India and Mexico. The impact of the newly imposed tariff hike is expected to be significant for the U.S.-China bilateral trade and could in isolation remove up to 0.5% of global container demand in 2019 and 2020, and when US tariffs on additional $300 billion is implemented later in the year, it could result in a reduction of up to 1% in 2020.”For more:See Bloomberg Intelligence’s preview hereFollow Maersk’s conference call at 11 a.m. CET hereFor more on the second-quarter earnings numbers, see hereRead Maersk’s full report here(Updates shares.)\--With assistance from Nick Rigillo, Matthew Miller and Nejra Cehic.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.
(Bloomberg) -- Want to receive this post in your inbox every day? Sign up for the Terms of Trade newsletter, and follow Bloomberg Economics on Twitter for more.We’re gonna need a smaller boat.That’s one way to interpret the message from Maersk, the world’s largest shipping line, as it announced earnings Thursday with a subtle warning about the outlook for trade and possibly weaker demand growth for containers.First came the good news: The Copenhagen-based company, which controls a fifth of the globe’s container fleet, said demand worldwide grew by about 2% in the second quarter from a year earlier — in line with its expected full-year growth of 1-3%. Profit beat analysts’ expectations. Chief Executive Officer Soren Skou said the company is managing the trade turmoil quite well so far. The stock jumped.Then came the bad news, stemming from U.S. President Donald Trump’s import taxes on Chinese goods and Beijing’s retaliation. “The impact of the newly imposed tariff hike is expected to be significant for the U.S.-China bilateral trade and could in isolation remove up to 0.5% of global container demand in 2019 and 2020, and when U.S. tariffs on additional $300 billion is implemented later in the year, it could result in a reduction of up to 1% in 2020,” the company said.A bite to demand of 0.5%-1% doesn’t sound that painful unless you consider that expectation for 2019 worldwide container growth is just 1%-3%.All the unknowns about tariffs are hurting the shipping industry and the global economy more broadly, sending stocks and bond yields tumbling this week. Recession fears are rising in the U.S., Germany and the U.K., and trade hubs like Singapore and Hong Kong are on the edge of downturns. Meanwhile, the U.S. and China remain far apart on the substance of any deal. Beijing just announced plans to retaliate imminently against the 10% tariffs on about $110 billion of Chinese imports that Trump announced earlier this week. “There is a lot of uncertainty,” particularly about the U.S. and China, Maersk’s Skou told Bloomberg Television. “Right now there’s not much that suggests a deal will be done anytime soon. It seems to be going in the other direction.”The bottom line from Maersk’s vantage point: We probably haven’t seen the worst of this storm yet.Charting the Trade WarTwenty-four product categories — encompassing imports worth $1.9 billion — were dropped off Trump’s new China tariff lists published Tuesday. Newly exempted items include skinned haddock fillets, booster seats and radioactive elements.Today’s Must ReadsCooler heads | Japan and South Korea appeared to ease tensions in a trade dispute as two of Asia’s largest economies try to resolve a long-running feud about Japan’s 1910-45 occupation. Picking sides | The Trump-Xi trade war is forcing the world’s gadget makers to split along U.S.-Chinese lines, while tech giants like Huawei ‘de-Americanize’ their own supply chains. Pelosi’s peace | The House Speaker is threatening to block any trade agreement between the U.S. and the U.K. if Brexit jeopardizes the accord that ended the Northern Ireland conflict. Trade war winner | In a world where many companies are hurting from the U.S.-China trade battle, agricultural trader Olam International in Singapore calls the spat a boon for business. India’s slowdown | The nation’s trade deficit narrowed as imports fell for a second straight month, a sign of a deepening slowdown that the central bank is fighting with interest-rate cuts.Economic AnalysisWeakness spreads | Germany’s economy is under fire as exporters suffer. Short-lived delight | Trump’s tariff delay may push currency traders to hedge.Coming UpAug. 16: EU trade balanceLike Terms of Trade?Don’t keep it to yourself. Colleagues and friends can sign up here. We also publish Balance of Power, a daily briefing on the latest in global politics.For even more: Subscribe to Bloomberg All Access for full global news coverage and two in-depth daily newsletters, The Bloomberg Open and The Bloomberg Close.How are we doing? We want to hear what you think about this newsletter. Let our trade tsar know.\--With assistance from Eddie Spence and Christian Wienberg.To contact the author of this story: Zoe Schneeweiss in London at email@example.comTo contact the editor responsible for this story: Brendan Murray at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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.
Mr Skou said that the Danish company — which is seen as a bellwether for global trade and transports about 18 per cent of the world’s seaborne freight — had benefited from trade liberalisation that affected three times more volume than US-China tariffs. “It’s not really tariffs that decide the demand, it’s consumer spending in the US,” he said.
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.
Frankly Alphaville could have done without hearing this on a Monday afternoon. We are, shipping company Maersk claims, being held back by our “reptilian brain”. In its latest ad campaign Maersk takes us ...
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.
Denmark said on Friday it welcomed a British government proposal for a European-led naval mission to ensure safe shipping through the Strait of Hormuz and would consider a military maritime contribution. Britain has sought to assemble the mission in Hormuz, used by tankers carrying about a fifth of the world's oil, following Iran's seizure of a British-flagged ship in what London said was an act of "state piracy". The backing contrasts with a lukewarm response shown by European allies to a similar American call first voiced at NATO in late June, which was resisted by France and Germany.
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.
Singapore, one of the world's biggest centers for the supply of marine fuels, is now enforcing the mandatory use of mass flow metering systems for the delivery of distillate fuels. To defray the cost of installing an Authority-approved mass flow meter, it offered subsidies of up to SG$60,000 for each existing bunker tanker already licensed to deliver distillates. Singapore is one of the world's largest, if not the largest, locations for the supply of marine fuel.
Hyundai Merchant Marine (HMM) will join THE Alliance as a full member. THE Alliance, which is also comprised of Germany's Hapag-Lloyd (FSE: HLAG), Japan's Ocean Network Express, and Taiwan's Yang Ming, said it established "a new cooperation" with its now four members lasting through 2030. Jae-hoon Bae, President and Chief Executive Officer of HMM said, "Being a full member of THE Alliance gives us a lot of pride.
The Council's motion to deny Maersk's APM Terminals subsidiary a permit for installing equipment at its Pier 400 terminal to support automation comes one week after the board that governs the Port of Los Angeles narrowly approved the permit.
This is a milestone year for CargoMetrics, the Boston-based technology company whose big data machine tracks and analyzes global seaborne trade in near-real time. It's about to enter the next stage of its fleet-optimization partnership with Maersk Tankers and has just added two more partners on the dry bulk side – FedNav and Western Bulk. It's also planning to launch a revolutionary cargo-pricing transparency product called TruFreight.