Maersk Cuts 2018 Guidance But Still Eyes Market Recovery

By Teis Jensen and Jacob Gronholt-Pedersen COPENHAGEN, Aug 7 (Reuters) - A.P. Moller-Maersk cut its 2018 earnings forecast on Tuesday due to higher fuel prices, although the downgrade was smaller than some analysts had feared, prompting shares in the world's biggest container shipping company to rise. The container shipping industry has suffered from low freight rates amid a … [Read more...]

A.P. Moller – Maersk Sells Tanker Unit to Maersk Family Fund for $1.17 Billion

Danish conglomerate A.P. Moller - Maersk (Maersk Group) has signed a deal to sell its Maersk Tankers unit to a subsidiary of A.P. Moller Holding for $1.17 billion in cash. A.P. Moller Holding, the controlling shareholder of Maersk Group, is a wholly-owned fund established by the founder of A.P. Moller-Maersk. It will take ownership of Maersk Tankers through its subsidiary … [Read more...]

Maersk Oil Announces 160 Layoffs in Denmark

Maersk Oil plans to reduce its workforce in Denmark by approximately 160 positions as part of a plan to simplify the organization, the company said this week. The upcoming layoffs were announced following an internal review of Maersk Oil headquarters carried out in late 2016. Maersk Oil said it will also consolidate all employees of its Danish Business Unit (DBU) at the … [Read more...]

Maersk and Dong Energy Discussing $10 Billion Oil Merger -Sources

By Sophie Sassard and Ron Bousso LONDON, Nov 28 (Reuters) - Denmark's A.P. Moller-Maersk and DONG Energy are in talks to merge their oil and gas operations in a deal that would create a business worth more than $10 billion including debt, sources familiar with the matter said. Maersk is working with Bank of America on the potential deal, while JP Morgan is assisting Dong … [Read more...]