Maersk Group profit plunges
AUGUST 12, 2016 — Hit by low average container freight rates and low oil prices, Maersk Group delivered a second quarter profit of $118 million compared with $1.1 billion in the same
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Skou replaces Andersen as Maersk Group CEO
JUNE 23, 2016 —The Maersk Group Board of Directors today appointed Søren Skou as new Chief Executive Officer of A.P. Møller – Mærsk A/S, replacing Nils S. Andersen, who will leave the
Maersk Group tests drone for at sea delivery
MARCH 11, 2016—The Maersk Group envisions that one day it will be able to use drones for vessel inspections, firefighting, surveillance for navigation and anti-piracy operations, and to deliver vital goods to
Maersk Group sees another tough year head
FEBRUARY 10, 2016 — The Maersk Group has published its 2015 Annual Report. With a loss-making fourth quarter, the group delivered a profit of $925 million, compared to the prior year’s $5.2
Falling freight rates hit Maersk Group profits
The Maersk Group delivered a profit of $778 million (compared with $1.5 billion in the third quarter of last year) negatively impacted by the lower oil price and lower average container freight rates, down 51% and 19% respectively compared to the same period last year. The return on invested capital (ROIC) was 7.6% (12.7%).
The underlying profit was $662 million ($1.3 billion) with lower profits in Maersk Line, Maersk Oil and APM Terminals and improved result for Maersk Drilling, while APM Shipping Services was on par with Q3 last year.
Group CEO Nils S. Andersen said the decline of nearly 50 percent in underlying profit compared to last year was primarily due to container freight rates deteriorating to a historically low level, especially in the later part of Q3, and profits in Maersk Oil being impacted by the lower oil price.
“The expected underlying result of around $3.4 billion for 2015 reflects good performance in very challenging oil and container shipping markets, where the continuous actions taken in all our business units to reduce the cost base will enable us to maintain our ability to pursue the opportunities arising in our industries,” says Mr. Andersen.
Maersk Group turns in record profit
FEBRUARY 25, 2015 — Helped by a higher than expected Maersk Line profit of $2.3 billion, A.P. Møller – Mærsk A/S today reported a 2014 profit of $5.2 billion (compared with $3.8
Maersk Group reports profitable first quarter
MAY 17, 2013 — “We have improved our performance in the past year and we are satisfied with our result for the first quarter,” said Group CEO Nils S.Andersen as Maersk Group
Maersk Group turns in 2012 profit of $4 billion
FEBRUARY 22, 2013 — Maersk Group CEO Nils S. Andersen has something to smile about. In its 2012 Annual Report, released today, the Group reports a profit for 2012 of $4.0 billion,
Maersk sees Red Sea routings as still too risky
Maersk is to continue to avoid Red Sea routings of it its ships. In an update today, it said that it would continue to send ships via the Cape of Good Hope
Attack on Maersk Detroit underscores continued Houthi threat
This morning brought news from UKMTO of an incident 50 nautical miles south of Al Mukha, Yemen, in which the master of a ship reported an explosion about 100 meters off the