Maersk Management Given Time to Turn Around ‘Supertanker’

By Jacob Gronholt-Pedersen COPENHAGEN, April 2 (Reuters) - The main shareholder and the chairman of Danish shipping group A.P. Moller-Maersk both backed management's efforts to reshape the business, although other investors raised concerns on Tuesday about the rate of progress. The company is a "supertanker" that takes a long time to turn around, Ane Maersk Mc-Kinney … [Read more...]

Maersk Confirms ‘Significant Reduction’ in Cadet Recruiting from UK, South Africa

A.P. Moller - Maersk has confirmed changes to its long-term crew strategy which will result in the significant reduction of cadets recruited from South Africa and UK, a spokesperson for Maersk told gCaptain in response to unconfirmed social media reports. "As part of Maersk Line's long term crew strategy, we have decided to adjust the sourcing areas for our International … [Read more...]

Maersk to Begin Random Container Inspections Over Safety Fears

By Gavin van Marle (The Loadstar) - Maersk Line is set to begin physically inspecting container contents as part of its efforts to stem the increasing numbers of fires that break out inside boxes during transit, as well as boxes in which cargo moves or is damaged due to not being lashed correctly. Initially, the project will focus on shipments into and out of the US, it … [Read more...]

2M Drops Port Calls, Adds ULCVs and Returns to Slow-Steaming in Network Revamp

By Mike Wackett (The Loadstar) - The 2M alliance is to phase in six more ultra large container vessels (ULCVs) into its 10 Asia-Europe service strings from next March in an endeavour to improve schedule reliability, which it said had been blighted by bad weather and terminal congestion. However, the weekly capacity offering will be unchanged due to the implementation of … [Read more...]

An $8 Billion Payout From Maersk Raises Questions for Creditors

By Christian Wienberg (Bloomberg) -- Shareholders in the world’s biggest container-shipping company may get up to $8 billion in payouts next year, according to Goldman Sachs. That’s great news for equity investors in A.P. Moller-Maersk A/S, but it raises a number of questions for the Danish company’s creditors. According to Danske Bank, big shareholder rewards will push … [Read more...]