SA News • Thu, Nov. 13
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Thu, Nov. 13, 12:58 PM
- Soren Skou, CEO of Moeller-Maersk (OTCPK:AMKAF, OTCPK:AMKBF) container shipping unit Maersk Line, tells WSJ the company probably will include huge Triple-E vessels among its planned multimillion-dollar ship orders over the next six months.
- Skou says ships such as the Triple-E - the world’s largest and most efficient vessels, which can carry 18K-plus containers - save the company ~25% of the cost of moving a container from Asia to Europe compared with smaller vessels in Maersk’s fleet, provided the ships sail fully loaded.
- The CEO predicts demand for shipping will grow 4%-5% over the next few years; when Maersk last ordered 20 such ships in 2011 at ~$185M per vessel. competitors doubted whether Maersk would be able to fill them, but they now are rushing to place their own Triple-E orders to compete with the industry’s big players.
Thu, Aug. 28, 12:56 PM
- Tanker and bulk operator Scorpio Group (STNG, SALT) and China's Bank of Communications have ordered five giant Triple E container vessels that will be leased to Switzerland's Mediterranean Shipping, WSJ reports.
- The leases, which will last at least 15 years, are part of MSC's plan to join forces with Denmark's Maersk Line (OTC:AMKAF, OTCPK:AMKBY) in an alliance set to go into force early next year and expected to control ~30% of all cargo moved on the world's busiest trade routes.
- Scorpio placed an order for three Triple E's with South Korea's Samsung Heavy Industries, while BoCom ordered two from Daewoo Shipbuilding.
Tue, Aug. 19, 5:45 PM
- Strong Q2 earnings from the world’s largest shipping company is making some economists and investors more optimistic about the global economy.
- Strength in its container transport business prompted A.P. Møller-Maersk (OTC:AMKAF, OTCPK:AMKBY) to raise its full-year guidance - "a sign that the world economy hasn’t collapsed that Maersk can lift its outlook... marked by the fact that the container market is developing maybe a bit better than expected and that Maersk has cut costs a lot," Sydbank's Jacob Pedersen says.
- Maersk Line sees global container demand growing by 4%-5% in 2014, based on improving economic conditions, and CEO Nils Smedegaard Andersen expects shipping activity in the U.S. “will pick up in a significant way” in the last six months of the year, another sign of an improvement in global trade.
Tue, Aug. 19, 8:22 AM
- A.P. Møller-Maersk (OTC:AMKAF, OTCPK:AMKBY) tops the Stoxx Europe 600 index, rising as much as 5.4% after raising its FY 2014 underlying profit outlook to $4.5B from $4B and announcing plans for a $1B share buyback program over the next 12 months.
- In the June quarter, Maersk's net profit tripled from a year earlier to $2.25B, ahead of analyst consensus estimate $2.1B, as revenue rose 2.2% Y/Y to $11.95B.
- Maersk Line reported a Q2 profit of $547M vs. $439M a year ago, on a 4.4% reduction in unit costs and a 6.6% increase in container volumes; slow steaming and the introduction of more economical Triple E vessels, which consume an average 15% less fuel than older ships, contained Maersk Line's fuel expenses.
- Maersk’s capital structure is “almost too strong,” CEO Nils Smedegaard tells Bloomberg, thus the company will launch the first formalized buyback in its history, and the CEO says it won’t reduce dividend payments.
Tue, Jul. 8, 7:49 AM
- Moller-Maersk (AMKAF, AMKBY) says its Maersk Oil unit will take a $1.7B writedown on its Brazilian assets and sell its share in one of three Campos basin pre-salt fields.
- Maersk bought stakes in the three fields in Brazil for $2.4B three years ago, but appraisal drillings came out at the lower end of expectations, development costs were rising and oil prices were subdued.
- However, the company says its full-year guidance remains unchanged, with underlying profit of ~$4B and a group-wide result significantly above last year.
Tue, Jun. 17, 12:59 PM
- AP Moeller-Maersk (AMKAF, AMKBY), CMA CGM and Mediterranean Shipping - the world's three largest container-shipping operators, known as the P3 Network - have abandoned plans for a globe-spanning alliance after Chinese antitrust authorities ruled out allowing the tie-up to go forward.
- The three shippers already had won U.S. and European regulatory approval, and Chinese approval had been widely expected to follow.
- Maersk CEO Nils Andersen says the Chinese decision came as a surprise, but that the company isn't planning a strategic shift as a result: "We have delivered very good results on a standalone basis, and there are no reasons why we should not continue," he says.
Tue, Jan. 7, 3:53 AM
- A.P. Moeller Maersk (AMKAF, AMKBY) is set to earn 17B Danish kroner ($3.11B) after agreeing to sell stakes in two retailers to holding firm The Salling Companies.
- Maersk, which is better known for its shipping operations, is selling 48.68% in Dansk Supermarked and 18.72% in department store F. Salling. There are options for further transactions in the future.
- The deals represent the latest latest step in the streamlining of the conglomerate, which is also selling 15 oil tankers to Euronav for $980M. However, Maersk plans to keep its 22.84% interest in Denmark's biggest bank, Danske Bank. (PR)
Mon, Jan. 6, 8:24 AM
- Shipping giant A.P. Moeller Maersk (AMKAF, AMKBY) agrees to sell 15 oil tankers to Euronav (EONVF) for $980M, the latest step toward streamlining the conglomerate that runs the world's largest container fleet.
- Maersk Tankers operates a fleet of over 200 tankers, but its aim is to focus on the transportation of refined oil products rather than crude oil, so it is selling off the VLCC tankers it owns.
Thu, Jan. 2, 6:07 PM
- Kosmos Energy (KOS) enters into a one-well rig share agreement with BP and Moller-Maersk (AMKAF, AMKBY) for the rig Maersk Discoverer.
- KOS says the rig is expected to commence drilling operations on the FA-1 exploration well in the Foum Assaka block offshore Morocco during H1 2014.
- Under the terms of the Agadir farm-out agreement with BP announced earlier, BP will fund KOS' share of the well costs, subject to an agreed maximum spend.
Oct. 16, 2013, 12:59 PM
- Daewoo's (DWOTF.OB) securing of a $528M order for a drillship from Transocean (RIG) and earlier this week earning an order for two other drillships from an unnamed African contractor demonstrates how sustained high oil prices are pushing energy companies to seek untapped reserves in deeper and wilder waters.
- The worldwide fleet of drillships has more than doubled to 92 over the past five years, and they will be joined by 76 others over the next four years, making them the fastest-growing offshore drilling segment.
- Global oil demand is expected to climb to 96.7M bbl/day by 2018, an average growth of 1.2%/year, a level industry officials such as Maersk's (AMKAF.PK, AMKBY.OB) Claus Hemmingsen say opens doors for more remote offshore developments.
Aug. 16, 2013, 8:14 AM
- A.P. Moller-Maersk (AMKAF.PK, AMKBY.OB) rallies 6% in Copenhagen after reporting Q2 net profit of 4.48B Danish kroner $801M, higher than analysts’ expectations of 3.05B kroner.
- Q2 profit at Maersk Line, the shipping unit that generates about half the company’s revenue, totaled $439M vs. $227M in the year-ago quarter despite lower freight rates, and the unit expects to report a profit this year “significantly above” earnings last year.
- "The freight rate drop mostly reflects shipments from Asia to Europe which is plagued by overcapacity,” a container shipping says, "but in general, Maersk managed to hold up their pricing strategy and not cut freight rates aggressively like some of its competitors."
Jun. 18, 2013, 9:09 AMDanish shipper A.P. Moller-Maersk (AMKAF.PK) says the world’s three biggest shipping container operators have entered an alliance to reduce fuel consumption and improve service and operations. The P3 alliance, which also includes MSC Mediterranean Shipping and CMA, will operate a capacity of 2.6M containers between Asia and Europe, across the Pacific and Atlantic oceans. | 2 Comments
Feb. 22, 2013, 12:09 PMA lack of demand for container shipping often serves as a bellwether for international trade, so bleak forecasts (I, II, III) from Maersk (AMKAF.PK), Frontline (FRO -13.8%) and Teekay Tankers (TNK -2.8%) do not bode well for a global economic recovery this year. For the shippers, demand rising at about half the rate that new vessels are adding to capacity means a rough year ahead. | 3 Comments
Feb. 21, 2013, 12:15 PMRowan (RDC -2.6%) secures a three-year charter from Maersk for a jack-up to work in Qatar at a dayrate in the low $140Ks, near double the mid $70Ks the Rowan California rig had been garnering. Also, RDC secures short-term contracts for its Rowan Louisiana and EXL III jack-ups at day rates in the low $120Ks and the low $160Ks, higher than previous rates. | Comment!
Feb. 2, 2013, 5:41 PMA weekend deal between longshoremen and the U.S. Maritime Alliance (representing shipping companies and port associations in the East and Gulf coasts) will avert a strike that would cost the economy $1B/day and spur shortages of consumer goods. The largest port involved was the Port of New York and New Jersey; the dispute centered on container royalties shared between shippers and union members. | 10 Comments
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