Danish energy company Dong Energy said Thursday that it is planning to build the world's largest offshore wind hub in northeast England to service the growing number of vessels operating in the sector. Dong says the multi-million pound operations and maintenance hub will be built in Grimsby, England, on the River humber near where it meets the North Sea. It will be served by … [Read more...]
COSCO Says Piraeus Among Top 30 Ports in World by 2018
By Angeliki Koutantou ATHENS, Sept 22 (Reuters) - China's biggest shipping company, COSCO Shipping, plans to ramp up container volume at Greece's biggest port in Piraeus by 35 percent by 2018, the port's new managing director, Fu Cheng Qiu, told Reuters on Thursday. COSCO Shipping, which owns the world's fourth-largest container shipping fleet, bought 51 percent of the … [Read more...]
Maersk Ends Mega-Ship Building Era With Focus on Takeovers
By Christian Wienberg (Bloomberg) -- The owner of the world’s largest container shipping line will stop ordering newly built vessels and instead pursue takeovers in an industry that has been plagued by overcapacity for almost a decade. A.P. Moeller-Maersk A/S, whose Maersk Line unit has repeatedly broken the world records it has regularly set in mega container ships … [Read more...]
Maersk Falls Out of Love With Oil, But It’s a Gentle Breakup
By Chris Hughes (Bloomberg Gadfly) -- AP Moeller-Maersk is the latest company to do the splits. But the Danish conglomerate isn’t going for a dramatic breakup all in one go, like a certain Hollywood power couple. It’s letting the marriage between its two main business activities -- transport and oil -- fizzle out. While they're officially separating, they'll still live … [Read more...]
Here is Maersk Group’s Full Statement on Its Split
Editor's Note: Danish business conglomerate A.P. Moeller-Maersk A/S, owner of the world's biggest container shipping company and other marine, energy, and logistics related companies, announced the details of its breakup on Thursday, setting a new course for itself that focusses more on its core transportation and logistics services and away from its oil and oil related … [Read more...]
Fertilizer Ship Seized in Bali Over Suspected Bomb Plot
DENPASAR, Indonesia, Sept 22 (Reuters) - Indonesian authorities on the resort island of Bali on Thursday detained a ship from Malaysia carrying around 30 tonnes of fertilizer which police believe may have been intended for making bombs. Customs and police were questioning the crew and investigating the material for potential links to radical networks as the world's largest … [Read more...]
Maersk Group Announces Split
By Jacob Gronholt-Pedersen COPENHAGEN, Sept 22 (Reuters) - The world's biggest shipping firm, A.P. Moller-Maersk, set a new course on Thursday that will see the $30 billion firm bulk up its transport business while seeking alliances or a separate listing for its energy operations. Low freight rates and oversupply have rocked the container shipping sector, with South … [Read more...]