A.P. Moeller-Maersk

2021 Starts Off Well For Shipping Companies With High Shipping Rates

Shipping companies have steamed out of 2020 in ship shape as freight rates hit highs. The rollout of vaccines around the world will eventually tame high shipping costs, but even then the industry may fare better than in previous down cycles, reports The Wall Street Journal.

Surge in shipping rates

Shipping rates have skyrocketed since the middle of last year on strong demand from the developed world for personal protective equipment and stay-at-home goods, after the initial shock from Covid-19....

https://mfame.guru/2021-starts-off-well-for-shipping-companies-with-high-shipping-rates/

What Will Be The Cost To Consumers Of Shipping Going Green?

About six cents per pair of Vietnamese made running shoes, according to the boss of the world’s largest containerline, says an article published in Splash247.

Skou’s interview to BBC

Interviewed by the BBC on Friday, Soren Skou, the CEO of A.P. Moller-Maersk, discussed shipping’s decarbonisation path on the back of last Wednesday’s big announcement that Maersk would operate the world’s first carbon neutral, methanol fuelled boxship in 2023.

Skou acknowledged the shipping industry as a whole would...

https://mfame.guru/what-will-be-the-cost-to-consumers-of-shipping-going-green/

Maersk’s First Carbon Neutral Liner To Be Ready By 2023

  • Maersk to start carbon neutral vessel operation in 2023, 7 years ahead of target. 
  • The 2000 teu vessel will run on vlsfo and carbon neutral methanol
  • Methanol fuel feeder and dual fuel engine will be installed on the ship

In a major development, A.P. Moller – Maersk has announced that they are speeding up decarbonization with a methanol-fueled feeder vessel on the water in 2023, piloting a scalable carbon neutral product to customers and offering fuel suppliers incentive to scale production of...

https://mfame.guru/maersks-first-carbon-neutral-liner-to-be-ready-by-2023/

No Massive Capital Expenditure Towards Decarbonisation, Says Maersk

Moller-Maersk hints on its retrofits, rather than new vessel orders, in taking the company towards decarbonising its fleet, says an article published in Ship & Bunker.

No massive capital expenditure 

According to CEO Søren Skou, the company was not expecting the need to decarbonise resulting in massive capital expenditure in the years ahead.

“In terms of CAPEX guidance and fuel technology, first of all we’re still working on figuring out what is the best fuel for us for the future,” Skou said.

Retro...

https://mfame.guru/no-massive-capital-expenditure-towards-decarbonisation-says-maersk/

2020 Profits Doubled For A.P. Møller – Mærsk

A record fourth quarter helped A.P. Møller – Mærsk double its 2020 profits with a significant chunk of the cash earned earmarked for acquisitions, says an article published in Splash247.

EBITDA

In the fourth quarter last year, EBITDA rose 85% to $2.71bn while full year EBITDA hit $8.3bn for the world’s largest container line.

In bullish mood, the company, often seen by investors as a bellwether for the container shipping industry – stated today that it anticipates 2021 to be better than last year...

https://mfame.guru/2020-profits-doubled-for-a-p-moller-maersk/

A.P. Moller – Maersk extends partnership support to The Ocean Cleanup

A.P. Moller- Maersk, an integrated container logistics company and The Ocean Cleanup comes into a new 3-year partnership as extending their relationship, says a press release published on the Maersk website.

Extended Support

Besides Maersk Supply Service support with vessel operations and offshore project management, Maersk will now support The Ocean Cleanup with logistics end-to-end handling services, ranging from worldwide shipment from different locations to airfreight, container & special...

https://mfame.guru/a-p-moller-maersk-extends-partnership-support-to-the-ocean-cleanup/

A.P. Moeller-Maersk Profits Soar To 83%

  • A.P. Moeller-Maersk saw profits soar 83% in the third quarter on recovering volumes and rising freight rates.
  • The Logistics giant expects that the global container market could expand by up to 5% in 2021.
  • Maersk’s third-quarter revenue fell 1.4% to $9.92 billion, above the company’s own guidance of $9.9 billion, and shipping volumes fell 3.6% from a year ago.
  • Maersk said it now expects full-year earnings before interest, tax, depreciation and amortization of $8 billion to $8.5 billion,...

https://mfame.guru/a-p-moeller-maersk-profits-soar-to-83/

India watchdog orders DP World, Maersk units to withdraw some notices to clients

India’s antitrust watchdog has ordered Denmark’s A.P. Moller-Maersk and Dubai’s DP World to withdraw certain customer advisories which it said could hamper growth of the country’s largest container port in Mumbai, a document seen by Reuters showed.

The Competition Commission of India (CCI) last year ordered a probe into suspected antitrust violations by DP World DPW.DI and Maersk units at the terminals they operate at state-owned Jawaharlal Nehru Port Trust (JNPT).

Handling 66 million tonnes of...

http://container-news.com/india-watchdog-dp-world-maersk/

Ship recycling platform by top carriers

Yesterday, December 10, industry leaders and the non-profit organization Sustainable Shipping Initiative announced the launch of the Ship Recycling Transparency Initiative’s (SRTI) online platform, a tool for sharing information on ship recycling to drive responsible practice.

The platform comes nine months after a group of shipping companies first announced their collective effort to use the market-drivers that transparency brings to make responsible ship recycling the norm. Demanding...

http://container-news.com/ship-recycling-platform-top-carriers/

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