|Bid||8,690.00 x 0|
|Ask||8,698.00 x 0|
|Day's Range||8,660.00 - 8,958.00|
|52 Week Range||7,520.00 - 11,635.00|
|Beta (3Y Monthly)||1.11|
|PE Ratio (TTM)||51.62|
|Forward Dividend & Yield||150.00 (1.72%)|
|1y Target Est||1,548.30|
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).
Dubai's DP World has approached an Indian court to quash an antitrust investigation recently ordered into its alleged anti-competitive behaviour at the country's largest container port in Mumbai, a legal document reviewed by Reuters showed. The Competition Commission of India (CCI) last month said it suspected alleged 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). The CCI's probe followed a complaint by Singapore's PSA International Pte Ltd, which had alleged that Maersk and DP World businesses created barriers to hinder the growth of PSA's terminal by colluding on certain charges they levy at JNPT, Reuters reported last month.
FreightWaves announced the Freight.Tech 25 at MarketWaves 18 last month. The list highlights the most innovative and disruptive companies in transportation and logistics. Digital freight broker Loadsmart ...
Freight prices for containers going from China to the U.S. have surged over 100 percent from a year ago as of the beginning of December, according to data from Freightos, an online freight marketplace. The trend of surging freight shipping prices is unlikely to last as China's November trade data showed slowing growth in exports. The price of shipping a container from China to the United States has risen dramatically in the last year due to uncertainty surrounding trade tensions between Washington DC and Beijing .
The Causeway International Value (Trades, Portfolio) Fund disclosed this week it established five new positions during the third quarter. Warning! GuruFocus has detected 3 Warning Signs with FII. Managed by Sarah Ketterer (Trades, Portfolio)'s Los Angeles-based firm, the fund invests in foreign companies with market caps that exceed $1 billion in order to achieve long-term capital growth.
Corrected: Date for issues for the agenda of the Annual General Meeting has been corrected to 18 February 2019 instead of 18 February 2018. ANNOUNCEMENT.
Danske Bank elected the favoured candidate of its top shareholder as its new chairman on Friday to help steer the Danish lender through a multi-billion euro money laundering scandal. Authorities in Denmark, Estonia, Britain and the United States are investigating payments totalling 200 billion euros ($229 billion) made through Danske Bank's tiny Estonian branch between 2007 and 2015. The Maersk shipping tycoon family, the bank's top shareholder with a 21 percent stake, ousted chairman Ole Andersen and called Friday's shareholder meeting to nominate Karsten Dybvad, 62 and another board member.
Maersk says that to achieve its target, carbon neutral vessels need to be commercially viable by 2030. Several ideas, such as rotor sails, have been developed for the shipping industry over the last few years. Global shipping business A.P. Moller-Maersk has set itself the goal of reaching "carbon neutrality" by 2050.
Maersk, the world's biggest container shipper, aims to be carbon neutral by 2050, in a challenge to the rest of the world's fossil fuel-dependent fleet. Denmark's Maersk said on Wednesday it aimed to have carbon neutral vessels commercially viable by 2030 by using energy sources such as biofuels and would cut its net carbon emissions to zero by 2050. The shipping industry, which carries around 80 percent of global trade, accounts for 2.2 percent of CO2 emissions, the UN's International Maritime Organization (IMO) says.