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AMKAF vs. ETF Alternatives
Tuesday, Jan 142:14 PM
Tuesday, Jan 142:14 PM| Comment!
- Kurdistan's regional government approves Maersk Oil's (AMKAF, AMKBY) acquisition of a 40% interest in two exploration blocks in the Kurdistan region of Iraq from Repsol (REPYY, REPYF), which will continue as operator of the blocks with 40% interests; the price for the stakes is not disclosed.
- In 2012, Repsol undertook a significant 2D seismic acquisition program which identified a number of drilling targets.
Tuesday, Jan 73:53 AM
Tuesday, Jan 73:53 AM| Comment!
- 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)
Monday, Jan 68:24 AM
Monday, Jan 68:24 AM| Comment!
- 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.
Thursday, Jan 26:07 PM
Thursday, Jan 26:07 PM| Comment!
- 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.
Wednesday, Oct 162013, 12:59 PM
Wednesday, Oct 162013, 12:59 PM| Comment!
- 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.
Friday, Aug 162013, 8:14 AM
Friday, Aug 162013, 8:14 AM| Comment!
- 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."
Tuesday, Jun 182013, 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. |Tuesday, Jun 182013, 9:09 AM| 2 Comments
Friday, Feb 222013, 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. |Friday, Feb 222013, 12:09 PM| 3 Comments
Thursday, Feb 212013, 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. |Thursday, Feb 212013, 12:15 PM| Comment!
Saturday, Feb 22013, 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. |Saturday, Feb 22013, 5:41 PM| 10 Comments
Tuesday, Sep 252012, 7:29 AMContainer-shipping giant Maersk plans another round of capacity reduction as it attempts to boost rates back to profitable levels, says CEO Nils Andersen. "It's loss-generating to sail Asia-Europe at the moment ... it is only natural that we consider reducing the capacity." |Tuesday, Sep 252012, 7:29 AM| Comment!
Thursday, Sep 62012, 10:10 AMShipping prices indicate a favorable Christmas season for retailers in the U.S. but not for those in Europe. Maersk, the world’s biggest container line, is among carriers raising rates on Asia-U.S. routes as improved job growth and consumer confidence tempt retailers to stock up ahead of the holiday rush. But shipping lines are cutting capacity to Europe. |Thursday, Sep 62012, 10:10 AM| Comment!
Thursday, Dec 232010, 9:36 AMDanish shipper A.P. Moller-Maersk (AMKAF.PK) agrees to pay $2.4B in cash to SK Energy of South Korea to acquire its Brazilian assets, gaining access to huge pre-salt oil deposits offshore. Maersk says the deal offers “immediate production and significant growth” in the Campos basin, site of the largest oil discovery in decades. (PR) |Thursday, Dec 232010, 9:36 AM| Comment!
Thursday, Mar 252010, 2:55 PMThe world's largest shipping company, Maersk (AMKAF.PK), says it hasn't seen sufficient demand to raise hopes for sustainable growth. “Seaborne trade accounts for 80% of world trade by volume… so what’s seen at sea has significant implications for what happens on land.” |Thursday, Mar 252010, 2:55 PM| 4 Comments
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