Offshore Impairments Sink Maersk Group’s Profit
Danish shipping and energy conglomerate Maersk Group reported a loss of USD 1.9 billion in 2016, negatively impacted by impairments of USD 2.7 billion in Maersk Supply Service and in Maersk Drilling as a consequence of an expected weaker outlook.
First Hammonia Ship Commissions AMP System
MV Sealand Los Angeles, the first vessel in a fleet managed by German ship management company Hammonia Reederei, commissioned its alternative marine power (AMP) installation in Port Hueneme, California, on January 10, 2017.
Maersk Sells Its Danske Bank Stake for USD 477 Mn
Danish shipping and energy giant A.P. Møller – Maersk A/S has sold its shares in the Danske Bank A/S for a total of DKK 3.2 billion (USD 477 million).
Moody’s: Maersk Ratings on Review for Downgrade
Denmark-based shipping and oil company A.P. Møller-Mærsk’s Baa1 issuer rating, Baa1 senior unsecured rating and the (P)Baa1 medium-term note (MTN) program rating were placed on review for downgrade, according to Moody’s rating agency.
CSC Slams Maersk for Dodging Shipbreaking Laws
After the Danish shipping giant Maersk Group said it would scrap more vessels in the coming years, the company’s plan to avoid European environmental law on ship recycling by flagging ships to non-EU flags was described as “undermining its credibility as
Maersk Accused of Setting Prices at Indian JN Port
The Danish conglomerate AP Moller Maersk Group, operating in global trade, shipping and energy, is allegedly taking advantage of its position at the Indian Jawaharlal Nehru Port to set prices by limiting competition in the container freight station (CFS)