Maersk Line

Maritime Partners swoops on Maersk Line Limited subsidiary

Within weeks of announcing it was to acquire the nine Jones Act tankers owned by Oslo-listed AMSC ASA (the company formerly known as American Shipping Company), Metairie, La., headquartered Maritime Partners LLC reports that on September 20, 2023, one of its managed funds acquired Norfolk, Va.-based U.S. Marine Management LLC (USMMI) from Maersk Line Limited, the U.S.-flag subsidiary of A.P. Moller-Maersk.

USMMI is engaged in chartering U.S. flag tanker and military support vessels, owned and...

https://www.marinelog.com/news/maritime-partners-swoops-on-maersk-line-limited-subsidiary/

Maritime Partners buys US-flag tanker business from Maersk Line

Maritime Partners, a provider of maritime financing solutions primarily focused on Jones Act vessels, has announced that on 20 September, one of its managed funds acquired Norfolk, Va.-based US Marine Management (USMMI) from Maersk Line, Limited.

USMMI is engaged in chartering US flag tanker and military support vessels, owned and operated by USMMI, to the Military Sealift Command, a division of the US Navy, and the operation and maintenance (O&M) of US government-owned vessels.

USMMI currently...

https://container-news.com/maritime-partners-buys-us-flag-tanker-business-from-maersk-line/

Maersk hikes 2023 guidance but warns of ‘years’ of challenges

a chart showing Maersk rates

Maersk, the world’s second-largest container shipping company, raised its full-year earnings outlook Friday while simultaneously lowering its forecast for the second half.

The hike in full-year guidance was due to better-than-expected performance in the past — the second quarter — not greater optimism toward the future. Second-quarter upside was driven by lower-than-expected costs (in part due to slow steaming), not freight rates, which were in line with company expectations.

Conference call...

https://www.freightwaves.com/news/maersk-hikes-2023-guidance-but-warns-of-years-of-challenges

Maersk Is Idling More Ships, Highlighting The 2M Split

Credits: william william/ Unsplash
  • Maersk Line continues to lose ground to MSC with the highest number of ships idled at the moment.
  • On the other hand, MSC is still taking on fresh charters and second-hand acquisitions, as the Swiss-Italian carrier continues to launch new services.

A recent news article published in the Container News states that 2M split highlighted with Maersk idling more ships.

131 idle ships

Linerlytica’s report this week stated that there are now 131 idle ships, and Maersk...

https://mfame.guru/maersk-is-idling-more-ships-highlighting-the-2m-split/

Maersk and Hope Hicks resolve sexual assault case

Hope Hicks, a former midshipman on the Maersk Line, Limited (MLL) ship Alliance Fairfax, and MLL have resolved Hicks’ litigation against the company filed in New York Supreme Court in June for sexual assault and harassment during her cadet Sea Year in 2019.

MLL is a US vessel operator and a wholly-owned subsidiary of A.P. Moller – Maersk.

Attorneys for Hicks and MLL have mutually agreed that neither side will disclose details of their agreement.

“It is important to me that my case has brought...

https://container-news.com/maersk-and-hope-hicks-resolve-sexual-assault-case/

Shipping giant Maersk: ‘Significantly less demand’ but ‘no hard landing’

photo of a container ship operated by Maersk

It’s getting increasingly ugly for shipping lines in the trans-Pacific market. Spot rates are sliding relentlessly with each passing week. Liners are starting to suspend entire service strings: Maersk just dropped two trans-Pacific services, MSC and Matson canceled one each.

Is Maersk CEO Soren Skou — whose company operates the world’s second largest liner company — getting worried yet?

He doesn’t sound worried, at least, not about Maersk itself.

Skou addressed questions on current market...

https://www.freightwaves.com/news/shipping-giant-maersk-significantly-less-demand-but-no-hard-landing

Shipping profits stay ‘super strong’ as supply chain congestion mounts

photo of a Maersk container ship

The container shipping boom refuses to end on its predicted schedule. Maersk previously guided for a sharp slowdown starting in July. That didn’t happen. Now it sees a gradual pullback toward the end of the year.

On Tuesday, the world’s second-largest container liner operator pre-reported an all-time high $10.3 billion in earnings before interest, taxes, depreciation and amortization for Q2 2022. During a conference call on Wednesday, Maersk CEO Soren Skou said that Q3 2022 will be “equally...

https://www.freightwaves.com/news/shipping-profits-stay-super-strong-as-supply-chain-congestion-mounts

China lockdowns are not causing shipping chaos, say liner CEOs

China COVID lockdowns container shipping

It was predicted that China lockdowns would cause container shipping havoc. Six weeks into Shanghai lockdowns, it still hasn’t happened. Two liner CEOs — Maersk’s Soren Skou and Matson’s Matt Cox — explained why.

“The port [of Shanghai] is open and operating,” said Skou on Wednesday’s quarterly earnings call. Trucking and warehouse disruptions “are slowing things down somewhat and we are seeing an impact on our volumes out of China, but probably less than we would have expected.

“The purchase...

https://www.freightwaves.com/news/china-lockdowns-not-causing-shipping-chaos-say-liner-ceos

Despite rising risks, shipping lines on track for another record year

container shipping lines

The year is almost a third over, and with each passing month, shipping lines look increasingly likely to pocket even more cash in 2022 than in record-trouncing 2021.  

New data and commentary released Tuesday by ocean carrier Maersk, freight forwarder Kuehne+Nagel and consultancy Drewry highlight just how profitable this year is shaping up to be for ocean carriers — and how expensive it’s looking for importers.

Drewry’s baseline forecast now calls for ocean carriers as a group to earn $300...

https://www.freightwaves.com/news/despite-rising-risks-container-shipping-poised-for-another-record-year

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