Maersk: Profits in 2017, meantime here’s more red ink

FEBRUARY 8, 2017 — A.P. Møller – Mærsk A/S racked up an unwelcome distinction today, reporting the largest annual deficit ever posted by any Danish company. Although the group delivered an underlying

Maersk shares hit after “unsatisfactory” quarter

NOVEMBER 2, 2016 — At the close of business on what was a dismal day for Denmark’s Copenhagen OMX exchange the worst performers were both A.P. Moller – Maersk. The A share

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 sends two ships to Alang for recycling

MAY 13, 2016 — Two Maersk Line vessels, the Maersk Wyoming and the Maersk Georgia are scheduled to arrive for recycling at the Shree Ram yard in Alang, India, later this month.

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.

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Maersk reports a strong first quarter

MAY 13, 2015 — Maersk Group delivered a first quarter profit of $1.6 billion ($1.2 billion in the equivalent 2014 quarter) positively impacted by a $223 million after tax gain from the

Maersk Line confirms release of Maersk Tigris

MAY 7, 2015 — The Maersk Tigris has now been released from its detention by Iranian authorities.Iran’s Port and Maritime Organization released a statement saying: “The Ports and Maritime Organization conferred with

Transas to install ECDIS on over 100 Maersk Line vessels

MARCH 30, 2015 — Transas Marine has received a contract from Maersk Line for ECDIS implementation on more than 100 vessels. Each ship’s existing system will be upgraded to the latest version

Maersk Line orders seven 3,600 TEU box ships

MARCH 26, 2015 — Maersk Line today signed a newbuilding order with COSCO Shipyard Co., Ltd in Zhoushan China. The order is for seven 3,600 TEU container ships. The vessels will have

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