Maersk Shares Sink As Trade War Looms

by Jacob Gronholt-Pedersen (Reuters) - The world’s largest container shipping company, A.P. Moller-Maersk, warned trade headwinds would slow growth this year, sending its shares down 10 percent on Thursday. Maersk is also moving ahead with spinning off Maersk Drilling, announcing it expected its new listing in Copenhagen to begin trading on April 4. Maersk Line in … [Read more...]

Maersk Secures U.S. East Coast Low Sulphur Fuel Production

A.P. Moller - Maersk says it has secured a deal New Jersey-based PBF Logistics on the production and storage of .5% sulphur fuel that will amount to approximately 10% of the shipping giant's annual fuel demand starting in 2020. Under the agreement, Maersk will source and PBFX will process crude oil at CPI Operations LLC, a PBF Logistics LP terminal facility in New Jersey, … [Read more...]

Maersk Acquires U.S. Customs House Broker Vandegrift

A.P. Moller-Maersk has acquired US-based Customs House Broker, Vandegrift Inc., underscoring the shipping giant's focus on the logistics sector in 2019. The deal marks Maersk's first acquisition of the year. Maersk says Customs House Brokerage is a key component in its strategy to become an integrated container logistics company, providing end-to-end solutions to … [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...]

Bunker Fuel Spilled from Maersk Ship at Port of Hong Kong

An unknown quantity of bunker fuel was spilled at the Port of Hong Kong on Sunday during bunkering operations on a Maersk ship at berth, A.P. Moller Maersk confirmed Monday. The bunkering was taking place on the 4,340 TEU Maersk Gateshead as it was berthed at the Modern Terminal Limited. At this time, the amount of fuel oil that was spilled has not been confirmed. Photos … [Read more...]