Maersk and Other Danish Firms Partner for Sustainable Fuels Project
A group of Danish transportation and energy companies including shipping giant A.P. Moller - Maersk have teamed up to develop an industrial-scale production facility to produce sustainable fuels for road, maritime and air transport in the Copenhagen area.Maersk is joined in the project by DFDS, Ørsted, Copenhagen Airports, SAS and DSV Panalpina, who have brought together the demand and supply side of sustainable fuels to develop a new hydrogen and e-fuel production facility as soon as 2023.
Tech Talk: Wallenius Wilhelmsen Puts Hull Grooming to the Test
Even as shipowners enjoy record low bunker fuel pricing, the search for hull cleaning and fuel-saving optimization continues. Jotun, which recently launched 'hull skater' hull grooming, found a willing partner in Wallenius Wilhelmsen -- an operator of a fleet of 126 RoRo vessels, 11 marine terminals and 71 processing centers globally -- to put the hull skater to the test.For the past decade, Wallenius Wilhelmsen has produced an annual Sustainability Report, describing initiatives undertaken to reduce the company’s emissions and safeguard life below the water line, among other target areas.
Hapag-Lloyd Keeps 2020 Guidance
German container liner Hapag-Lloyd on Friday stuck with its full-year earnings guidance but warned that supply disruptions and weaker demand due to the coronavirus crisis may lead to a revision of its forecast in the second half of 2020.The number five in worldwide container shipping, Hapag-Lloyd reported lower core profits in the first quarter on higher fuel costs and a devaluation of bunker stocks at the end of the period, when oil prices began to fall in a demand slump.The developments masked a positive impact from higher transport volumes - which increased by 4.3% to over 3 million 20-foot
CMA CGM Takes $1.1 Bln Loan
Shipping group CMA CGM has obtained a 1.05 billion euro ($1.1 billion) loan to be 70% guaranteed by the French government as it seeks to bolster its cash position during the coronavirus pandemic, which has hammered international trade.The loan, secured from a consortium of banks comprising BNP Paribas, HSBC and Société Générale, has an initial one-year maturity and an extension option of up to five years, Marseille-based CMA CGM said in a statement on Wednesday.France is offering guarantees to support billions of euros in loans for French companies to help them survive the economic fallout fro
Maersk Profits Up 23%, Demand Slowdown Expected
Shipping group A.P. Moller-Maersk warned of a sharp drop in global container volumes due to the coronavirus pandemic, with weaker retail sales and depressed car production dampening demand.The crisis has thrown the container shipping trade off balance as supply chains have been upended and businesses and factory activity in China and later across the world was disrupted.Maersk, which also reported a 23% rise in first-quarter core profits on Wednesday, now expects global container demand to contract this year…
Port of Los Angeles 2020 Cargo Volume Down 15.5%
Cargo volume at the Port of Los Angeles is down 15.5% so far this year as the novel coronavirus upends economies around the globe, Gene Seroka, executive director of the busiest U.S. seaport, said on a webcast on Wednesday.April volume was down 6.5% year-over-year as the financial and human toll of the pandemic come into focus in the United States and around the globe.Consumer demand for non-essential items has fallen off the cliff in the United States - where the pandemic is blamed for more than 71…
Operators Warn of Congestion at Indian Ports
Singapore's PSA International and Indian container freight operators have warned the Indian government that its order to waive container storage charges during the coronavirus lockdown could lead to port congestion, letters seen by Reuters showed.India's Ministry of Shipping asked ports to allow free storage of containers as part of relief measures to ease pressure on companies hit by logistics restrictions because of India's nationwide lockdown.PSA's local unit in a letter to the government on April 24 said importers might not remove their containers from ports due to free storage…
Interview: A Return to Wind Power with Tuomas Riski & Norsepower
Norsepower CEO and co-founder Tuomas Riski has put a new spin on some established technology, bringing wind power back to shipping in an undeniably eye-catching manner. Here Nor-Shipping’s latest ‘Ocean Action Hero’ explains the benefits of his firm’s unique technology, his plans for building global market presence, and the key role Norsepower’s sails can play in enabling a more sustainable shipping industry. “But isn’t there a problem that some people think it looks, you know… a bit odd?” Tuomas Riski laughs at a question that you quickly get the feeling he’s dealt with before.
Henningsen Named CFO at Hamburg Süd
Lasse Carøe Henningsen, 46, will become the new Chief Financial Officer (CFO) at Hamburg Süd, succeeding Jakob Wegge-Larsen, who has held this position since December 2017 and will be returning to Maersk in Copenhagen at the end of June. Already at the end of February 2020, he in parallel assumed the position of CFO of the Maersk division Ocean & Logistics there. When Henningsen starts at Hamburg Süd on June 1, he will be in charge of the Business Finance and Accounting divisions as well as the important SAP project. He and Dr.
Suez Canal Zone Announces Deal to Boost Competitiveness, Investment
Egypt's Suez Canal Zone and its Suez Canal Container Terminal (SCCT) announced an agreement on Tuesday committing to $50 million of investments that they said would help boost competitiveness at Port Said East port.SCCT opened in 2004 and is operated by majority shareholder APM Terminals, part of Denmark's A.P.Moller-Maersk. It has struggled to attract container and transshipment business in recent years.(Reporting by Patrick Werr Writing by Aidan Lewis; Editing by Kirsten Donovan)
Golden Ocean Names Andersen CEO
Dry bulk shipping company Golden Ocean Group said its board has appointed Ulrik Uhrenfeldt Andersen as the new Chief Executive Officer of Golden Ocean Management AS with effect from Tuesday April 14, 2020.Andersen comes from a position as Chief Executive Officer of Avance Gas AS and previously worked as Head of Shipping for Petredec, Managing Director for Neu Gas Shipping and Head of the Maersk VLGC Pool.
Maersk Leverages Digitial Tech to Keep Cargo Moving
While movers of global cargo is traditionally not a "stay at home" work scenario, one of the world's largest movers of containers increasingly leverages digital solutions and helps to maintain 'social distancing' to keep goods on the move globally.In any crisis there always emerges a silver lining, and while difficult to see at the moment in the midst of the COVID-19 pandemic, a likely long-term ramification for maritime and the whole of the logistics chain is increased penetration of digital solutions in the efficient movement of cargo globally.Maersk…
Container Shipping Firms Brace for Coronavirus Hit
Leading container shipping firm A.P. Moller-Maersk scrapped its 2020 earnings forecast on Friday, while rival Hapag-Lloyd warned of slowing growth until at least June, as the coronavirus pandemic takes a heavy toll on global tradeThe container shipping industry, a bellwether for international trade, has been blown off course by the new virus, which brought parts of China to a standstill before spreading around the world, leading container lines to re-route cargoes and reduce calls to Chinese ports.Despite lower volume growth…
CMA CGM: Virus Impact Limited as China Activity Resumes
French shipping group CMA CGM said its operations in China were returning to normal after the coronavirus outbreak crippled traffic last month, forecasting the health emergency would have a limited impact on its results this year.CMA CGM, the world's fourth-largest container shipping firm, expects to return to normal fleet capacity in China from mid-March after seeing signs of industrial production picking up as of late February, it said in a results statement on Friday.The new coronavirus…
ONE, Maersk, MSC Suspend China-Australia Service
Container shipping companies Ocean Network Express (ONE), Maersk and MSC will suspend their jointly operated China Australia service (CAE) until at least the second quarter of 2020 due to the COVID-19 pandemic.The last CAE sailing before the suspension will be scheduled to depart Xiamen April 22. The CAE port rotation is as follows: Xiamen – Nansha - Hong Kong – Yantian – Melbourne – Sydney – Brisbane – Xiamen.Alternate coverage will be provided by the North East Asia Australia (AUN) Service…
‘Hull Skate’ Your Way to Cleaner Hulls, Better Fuel Efficiency
When it come to ship efficiency and emission reduction, the next frontier is devising better means to keep hulls clean from biofouling in the five years between dry dockings. Finding best solutions on hull coating and cleaning is major point of focus among shipping majors globally.Last month in a feature interview in Maritime Reporter & Engineering News with Royal Caribbean Cruises (RCCL) Anshul Tuteja, Associate VP Global Fleet Optimization, it was made clear that coatings used on the RCCL fleet is a point of intense focus…
Svitzer Gets 10-Year Contract Extension with Sakhalin Energy Investment
Svitzer, the towage operator that is part of Maersk, announced a 10-year extension of its marine service contract with Sakhalin Energy Investment Company Ltd., a consortium set up to develop and manage the Sakhalin-II project, aimed at producing and exporting oil and liquefied gas.Svitzer has been providing towage services to the Sakhalin-II project since 2007, and the extension comes into effect in November 2022 to support the mooring of more than 1,800 gas carriers with a vessel fleet of four Robert Allen ice-breaking tugs and two mooring boats.
US Retailers Face $700 Mln Hit as Virus Disrupts Shipping
U.S. retailers face an estimated $700 million sales hit from the coronavirus and some shipping lines are sending vessels to retrieve empty cargo containers from Los Angeles to prevent further supply disruptions.The extended shutdown of factories in China caused by the virus, travel restrictions on workers and canceled sailings by shipping lines have thrown off the movement of containers, resulting in a surplus at the Port of Los Angeles and a shortage in Germany.U.S. retailers'…
Hapag-Lloyd Advises that Coronavirus to Slow Growth through H1
German container shipper Hapag-Lloyd on Friday said the coronavirus outbreak would curb business growth at least until mid-year after reporting a jump in 2019 profit and proposing a higher dividend.Larger rival Maersk on Friday also warned of a first-quarter hit from the outbreak and suspended its 2020 earnings outlook.Hapag CEO Rolf Habben Jansen said that impact from the coronavirus was impossible to determine for the time being, but the company was preparing for a blow to trade."Transport…
Ransomware: The IT Danger on the Horizon
Two decades into the 21st century, we’re seeing a growing and pernicious threat to global information security: ransomware. Even non-technical folk have loosely heard of it, but the broader implications haven’t yet penetrated the public consciousness. In different industries, that general lack of awareness could be a big problem—and the maritime sector is a good example.Ransomware hits at the confluence of two critical trends in modern technology: the ever-increasing integration of IT systems into daily life, and the interconnectedness of those IT systems.
Maersk Moves Indian Grapes to Europe
The global container company A.P. Moller – Maersk has started end-to-end cold chain logistics solution for its customers exporting grapes from Nashik and Sangli in India to North Europe.With this new offering, Maersk is enabling the exporters from the region to supply high quality Indian grapes to global market and helping fetch higher returns for the farmer community in and around the Nashik district. Leveraging its variety of services throughout the supply chain, Maersk is improving…
P&O Maritime Logistics Names Helweg CEO
Marine solutions and logistics company P&O Maritime Logistics (POML) said it has appointed Martin Helweg as its new Chief Executive Officer. He will report to Mike Bhaskaran, DP World’s Chief Operating Officer for Logistics and Technology.For the past three years, Helweg has been responsible for P&O Maritime Logistics’ global operations. Earlier, Martin spent over 15 years in marine service solutions working for Svitzer, an A.P. Moller-Maersk Company in regional CFO and CEO roles across the Americas…
Maersk Records Strong Q1, but Suspends 2020 Outlook on Coronavirus Uncertainty
Cost-cutting and price rises will help Maersk deliver higher first-quarter earnings than a year ago, the shipping giant said on Friday, though it scrapped its full-year forecast due to uncertainty caused by the coronavirus pandemic.The Danish company said its guidance on earnings before interest, tax and amortization (EBITDA), previously $5.5 billion for the year, was suspended until further notice.Preliminary results showed it made first-quarter EBITDA of around $1.4 billion.Despite lower volume growth…
Maersk Launches Door-to-door Cargo Insurance
A.P. Moller - Maersk said it has teamed up with Zurich Insurance Plc (Zurich) to bring Maersk Cargo Insurance, a product to protect customers goods against physical loss or damage from the time they are first moved for loading until the completion of unloading at destination, from and to almost every country in the world. “In line with our vision to become the global integrated container logistics company, we aim to provide our customers with a variety of solutions related to their supply chain.
Maersk Suspends Crew Changes
The widespread coronavirus outbreak has led the world's largest container carrier to suspend crew changes aboard its entire fleet of operated vessels until April 14, a Maersk spokesperson confirmed to MarineLink.The full statement from A.P. Moller - Maersk is below:With the continued spread of the COVID-19 pandemic and the extraordinarily fast-paced closing of borders and cancellations of airline services, today (March 17, 2020) we have decided to suspend all crew changes for Maersk-operated container vessels effective immediately and for four weeks until April 14, 2020.
Contracted Rates to Fall Long-term Due to Conoravirus -Xeneta
The container shipping segment appears to have caught coronavirus, with the industry suffering its first monthly fall in long-term contracted ocean freight rates since October 2019. According to the latest XSI Public Indices report from Xeneta, March 2020 saw a small dip of 0.5% in rates after a sustained period of growth. Although these symptoms look mild, the future is characterized by growing uncertainty, with widespread economic disruption and looming global recession likely…