MSC Noses Toward Top Liner Ranking After Poaching Star Maersk Exec

By Mike Wackett (The Loadstar) - Maersk’s cuts in capital expenditure, including its decision not to order new vessels in the next two years, will clear the way for MSC to take over as the top-ranked ocean carrier, according to Alphaliner, And The Loadstar’s sources suggested that this “profit over market share” strategy by the Danish transport group may have contributed to … [Read more...]

MSC Confirms Toft’s Appointment as CEO of Shipping and Logistics Business

By Jonathan Saul LONDON, Nov 18 (Reuters) - Swiss headquartered container group MSC has hired Soren Toft as chief executive of its shipping and logistics business from rival A.P. Moller Maersk , a company spokesman said on Monday. Toft will report directly to Diego Aponte, MSC group's president, and Gianluigi Aponte, the company's founder and group chairman, the MSC … [Read more...]

Report: Maersk’s Former Head of Operations Appointed CEO of MSC

Søren Toft, A.P. Møller – Mærsk’s former Chief Operating Officer whose abrupt resignation was announced earlier this week, is heading to Maersk rival and 2M alliance partner MSC Mediterranean Shipping Company where he will serve as its new CEO, according to media reports. The news comes after Maersk made the surprise announcement on Monday that Toft had resigned with … [Read more...]

Maersk Keeps Costs Down with Uncertain Outlook

By Jacob Gronholt-Pedersen and Stine Jacobsen COPENHAGEN, Nov 15 (Reuters) - A.P. Moller-Maersk said on Friday prospects for a pick-up in demand for seaborne container traffic were clouded by an uncertain economic outlook but the shipping group's focus on driving down costs helped its shares higher. The world's biggest container shipping firm said global container demand was … [Read more...]

Maersk COO Soren Toft Steps Down Effective Immediately

Soren Toft, A.P. Møller – Mærsk’s Chief Operating Officer, Soren Toft is resigning from the role and will leave Maersk to pursue other opportunities, Maersk said in a statement Monday. Toft departure is effective immediately. Toft’s responsibilities as COO will be taken on by Søren Skou, Maerk’s CEO, effectively immediately until a replacement is found. Toft also … [Read more...]