Israeli shipping company ZIM Integrated Shipping Services has signed on as a member of Maersk and IBM's blockchain-enabled TradeLens platform. Launched in 2018, TradeLens uses blockchain technology to drive transparency throughout the shipping process by digitizing documentation and making it available in real-time to all trading partners - from carriers to freight … [Read more...]
Maersk Completes Oil and Gas Spin Off as Drilling Unit Lists in Copenhagen
COPENHAGEN, April 4 (Reuters) - A.P. Moller-Maersk spun off its oil and gas drilling unit and listed it separately on the Copenhagen stock exchange on Thursday, where it was traded slightly below the book value it had in Maersk's own accounts. The demerger is a part of the Danish shipping group's 2016 plan to refocus its efforts into transport and logistics, a plan that has … [Read more...]
Maersk’s Vice CEO Stepping Down After Energy Exit
A.P. Moller – Maersk's Vice CEO and the CEO of its Energy division, Claus V. Hemmingsen, will be stepping down from the roles following the separation of Maersk Tankers, Maersk Oil and Maersk Drilling as part of the Danish conglomerate's strategic transformation to focus on container logistics. The Energy division will close down latest by the end of June 2019, and Claus … [Read more...]
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 Ditches Offshore Services Sale in Blow to Simplification
COPENHAGEN, March 29 (Reuters) - A.P. Moller-Maersk said on Friday it had abandoned plans to sell its offshore services business, blaming tough market conditions for the blow to the Danish conglomerate's attempts to focus entirely on its transport and logistics business. "This disturbs the tale they started to tell in 2016. Supply service does not fit their business at all," … [Read more...]