V.Group Appoints Ian El-Mokadem as CEO
UK-based ship management company V.Group announced the appointment of Ian El-Mokadem as Chief Executive Officer and Martin Gaard Christiansen as Chief Commercial Officer. Both will assume their positions in the autumn. Ian joins from Exova, the global provider of technically demanding testing, calibration and related advisory services, where he served as Chief Executive for the last six years. Ian was responsible for professionalising and growing the business, which operates in 33 countries…
Maersk to Pay $4 Bln for Hamburg Sud
The world's biggest container shipping company Maersk Line will pay 3.7 billion euros ($4.02 billion) for its acquisition of smaller German rival Hamburg Sud, it said on Friday. Combined, the two companies will be able to realise annual operational savings of about $350 million to $400 million, Maersk Line said in a statement fleshing out detail on the deal announced in December. "By keeping Hamburg Sud as a separate and well-run company, we will limit the transaction and integration risks and costs while still extracting the operational synergies…
APM Terminals to Divest Pentalver Transport
APM Terminals has entered into an agreement to divest Pentalver, the UK-based provider of container transport (trucking & haulage) and other container related services, to Genesee & Wyoming Inc. (G&W) – a United States-based, global operator of short line and regional railroads and the parent company of Freightliner, the largest transporter and inland rail terminal operator for the movement of deep sea maritime containers in the UK. The purchase price is GBP £87 million (or approximately USD $110 million at current exchange rates)…
Engelstoft Appointed CEO at APM Terminals
Morten Engelstoft, currently Chief Executive of A.P. Moller Shipping Services has been appointed APM Terminals CEO effective November 1, 2016. Morten succeeds Kim Fejfer, currently CEO of APM Terminals and Executive Board member in the A.P. Moller-Maersk Group, who will take up a new role in APM Holding A/S in Copenhagen, Denmark. “Morten Engelstoft has a strong track record of delivering results, deep operational experience and is an excellent people leader. I am confident that…
Maersk Line Tops World Shipping in 2016
Maersk Line, a unit of the A.P. Moller-Maersk Group, based in Copenhagen, Denmark, has retained its position as the world’s largest container shipping line, according to Alphaliner. It is still the world’s largest ocean carrier by capacity but its closest rivals, Mediterranean Shipping Co. and CMA CGM, posted higher fleet growth rates during 2015. It is safe from its closest rivals with a fleet growth of 4.1 percent in 2015, data from Alphaliner shows. Maersk has cut sharply on Asia-Europe but have moved ships elsewhere.
Pipavav Port Resumes Operations
Gujarat Pipavav Port (APM Terminals Pipavav) has resumed operations following improvement in weather conditions. Last week, the port operations were suspended due to the cyclonic weather conditions and breakdown of power supply and communication. Thousands of containers, majority of them, bound for northern states, have piled up at the port. The port announced on Sunday that the operations have been resumed following the improvement in the weather conditions. It also said that…
New CEO for Rickmers Maritime
Singapore-listed Rickmers Maritime Trust (RTM) will have a new ceo at the helm in June this year. Its CEO Thomas Preben Hansen has resigned from his post. Soren Andersen, a shipping executive with 17 years of experience at AP Moller-Maersk Group and American President Lines, will take over the helm. Hansen has held the role of ceo at RTM since its listing on the Singapore Exchange in May 2007. Andersen is currently head of global network and alliance, following a 15 years at AP Moller – Maersk.
Topaz Appoints New Chief Financial Officer
Topaz Energy and Marine, a global offshore support vessel owner with key operations in the Middle East and Caspiantoday announced the appointment of PernilleFabricius as Chief Financial Officer. Mrs. Fabricius’career spans 25 years and she joins Topaz from her position as CFO of DAMCO, a global logistics division of the A.P. Moller-Maersk Group. DAMCO has revenues of approximately EUR 3,5bn and circa 20,000 employees in over 100 countries. Mrs. Fabricius has held significant international executive positions in her previous career…
Newbuild Jack-up Rig Charter Exended
Maersk Drilling receives two-year term extension for newbuild jack-up rig 'XL Enhanced 2'. Det Norske Oljeselskap ASA (Det norske) has on behalf of the partners in the Ivar Aasen project, exercised its contractual right to extend the contract for the newbuild ultra harsh environment jack-up, XL Enhanced 2, by two years. Consequently, the duration of the firm contract is now five years. The estimated value of the two-year contract extension is approximately USD 280 million, bringing the total estimated contract value to approximately USD 700 million.
China on Way to Economic Upgrade Says Maersk CEO
China's decline in exporting this year may be a consequence of it becoming a manufacturer of more sophisticated products. Soren Skou, CEO of Maersk Line, the container unit of the Danish shipping conglomerate AP Moller-Maersk Group, said that China's slowing trade growth suggests that the country "may have lost some of its competitiveness in some areas of the manufacturing sector", particularly in light industry, such as the production of toys, shoes and garments, as more companies have moved their manufacturing to neighboring Southeast Asian countries including Vietnam.
TOTE, Inc.: The New look of American Shipping Group
On January 1, 2012 American Shipping Group underwent a dramatic transformation. The company, formerly known as ASG, became TOTE, Inc., and experienced a makeover in logo, look and structure. Seeing opportunity for market growth, TOTE, Inc. organized its five independently managed businesses in to three groups: Maritime, Logistics and Ship Management. For now, each company will retain their name, logo and independent branding. The strengths of the individual companies will be enhanced by marketing and sales efforts for the overall portfolio by all TOTE, Inc, affiliated companies.
Alabama State Port Authority Far East Service
The Alabama State Port Authority and Mobile Container Terminal, LLC announced a new all-water container service between the Port of Mobile and Far East. CMA CGM added the Ports of Mobile and Pusan, Korean to its PEX3 service between the U.S. Gulf of Mexico and Asia. CMA CGM, through its division, Terminal Link, is a partner in the 18 month-old Mobile Container Terminal at the Port of Mobile. In 2005, CMA CGM’s division Terminal Link, APM Terminals Americas, a subsidiary of the A.P.
Pedersen BIMCO Deputy Secretary General
BIMCO has appointed Lars Robert Pedersen as new Deputy Secretary General of BIMCO as of 1 February 2010. Lars Robert Pedersen is currently Director of Regulatory Affairs in Maersk Maritime Technology at A.P. Moller-Maersk Group in Copenhagen. Apart from being part of the Management team, BIMCO's two Deputies will respectively overlook the two most important areas of the association's work. Lars Robert Pedersen will focus on further consolidating BIMCO's Industry Affairs activities involving political and regulatory developments at international…