• 2018 August 17 13:04

    A.P. Møller - Mærsk A/S to pursue a separate listing of Maersk Drilling

    Having evaluated the different options for Maersk Drilling, A.P. Moller - Maersk has concluded that listing Maersk Drilling as a standalone company presents the most optimal and long-term prospects for its shareholders, offering them the possibility to participate in the value creation opportunity of a globally leading pure play offshore drilling company with long-term development prospects, the company announces in its press release.

    The process has been initiated to ensure that Maersk Drilling is operationally and organisationally ready for a listing in 2019. As part of the preparation, debt financing of USD 1.5bn from a consortium of international banks has been secured for Maersk Drilling to ensure a strong capital structure after a listing. Further details for a listing will be announced at a later stage.

    The decision on the future of Maersk Drilling marks a milestone in the business transformation of A.P. Moller - Maersk towards becoming an integrated transport & logistics company as announced on 22 September 2016.

    The target was set to find new viable solutions for the oil and oil related businesses within 24 months. During the past two years solutions for Maersk Oil and Maersk Tankers have been found and today the plan to list Maersk Drilling is announced.

    For Maersk Supply Service, the pursuit of a solution will continue. However due to challenging markets, the timing for defining a solution is difficult to predict.

    Chairman of the A.P. Moller - Maersk Board of Directors, Jim Hageman Snabe says:
    “The Maersk Drilling team has done a remarkable job operating the business at a time of high uncertainty and is well positioned to become a successful company on Nasdaq Copenhagen. The announcement of the intention to list Maersk Drilling completes the decision process on the structural solutions for the major oil and oil related businesses. Yet another important step in delivering on the strategy.”
    Capital structure and proceeds from the oil & oil related businesses

    A.P. Moller - Maersk remains committed to maintaining its investment grade rating which is demonstrated by increased capital discipline over the last two years combined with maintaining a high financial flexibility.

    Net cash proceeds to A.P. Moller-Maersk from separation of Maersk Oil, Maersk Tankers and now expected Maersk Drilling is around USD 5bn. Maersk Drilling’s separate financing is expected to release cash proceeds of around USD 1.2bn to A.P. Moller - Maersk.

    In addition, A.P. Moller-Maersk sold Total S.A. shares for an aggregated amount of around USD 1.2bn during July 2018. This represents the increase in value since signing of the sale of Maersk Oil in August 2017. A.P. Moller - Maersk retains 78.3 million shares in Total S.A. with a current aggregated value of around USD 5bn.

    Subject to maintaining investment grade rating it is now expected that:
     Maersk Drilling will be demerged via a listing in 2019 with distribution of Maersk Drilling shares to A.P. Moller - Maersk’s shareholders
     Following the demerger of Maersk Drilling a material part of the remaining Total S.A. shares will be distributed to A.P. Moller - Maersk’s shareholders in cash dividends, share buy-backs or as a distribution of the Total S.A shares directly

    The overall transport and logistics business has grown significantly over the last two years – both organically and inorganically through the acquisition of Hamburg Süd. A turnover close to USD 40bn is expected for 2018, equaling an increase of almost 50 percent since 2016. The non-Ocean business is as planned growing organically at a higher pace than the Ocean business.

    Synergies are being realised as expected and the business is on track to deliver around USD 1bn by end 2019 from integration of Hamburg Süd and increased collaboration across the transport and logistics business.

    “With the decision made on Maersk Drilling, A.P. Moller - Maersk can stay focused on transitioning into an integrated transport and logistics company and developing solutions to meet our customers end-to-end supply chain management needs. New value adding services as well as customer experience are improving continuously based on digital solutions. We will continue to grow revenue with a specific focus on non-Ocean revenue and at the same time improve our current unsatisfactory level of profitability,” says CEO of A.P. Moller - Maersk, Søren Skou.

    Chairman of the A.P. Moller - Maersk Board of Directors, Jim Hageman Snabe continues:
    “The Board initiated the fundamental business transformation of A.P. Moller - Maersk almost two years ago. This is a massive undertaking touching all parts of our company globally and I would like to thank the management for progressing on many strategic efforts in parallel.”

    ABOUT

    A.P. Moller - Maersk is an integrated container logistics company working to connect and simplify its customers’ supply chains. As the global leader in shipping services, the company operates in 130 countries and employs roughly 76,000 people. With simple end-to-end offering of products and digital services, seamless customer engagement and a superior end-to-end delivery network, Maersk enables its customers to trade and grow by transporting goods anywhere – all over the world.




2019 July 17

18:13 USCG responds to boat collision, assists 4 injured
17:55 LNG vessels to protect environment and increase container turnover at the Port of Riga
17:32 YAMAL LNG obtains certification for the new ISO 45001:2018 and confirms compliance with ISO 14001:2015
17:03 Qatargas delivers 3000th LNG cargo to Japan
16:48 Maslovoz-2 tanker left floating dock of Novorossiysk Ship Repair Yard
16:21 Krasnoye Sormovo delivers the Aleksandr Zuyev, dry cargo carrier of Project RSD59, to STLC
16:03 Safe Bulkers, Inc. announces installation and commissioning of the first scrubber on MV Martine
15:44 Germany accedes to ship recycling convention
15:27 South Africa accedes to compensation regime for hazardous and noxious cargoes
15:02 BHP to introduce low emissions LNG freight
14:02 CMA CGM announces FAK rates from ISC to North Europe and the Mediterranean
13:32 McDermott awarded FEED contract for Sohar LNG bunkering project in Oman
13:15 Pilbara Ports Authority delivers a total annual throughput of 697.2 million tonnes for the 2018/19 financial year
12:39 Exports of Russian oil products from Kambarka oil tank farm resumed by river route via RPK-Vysotsk-LUKOIL-II
12:01 Aker Solutions announces Second-Quarter and Half-Year results 2019
11:51 New edition of Rules for Classification and Construction of Ships Carrying Liquefied Gases in Bulk published by RS
11:44 Port of Oakland’s keystone project set to be delivered in 2020
11:26 NIBULON shipyard continues forming the hull of its 140-m NIBULON MAX floating crane
11:02 The President of the European Council visits the new Port of Baku
10:40 Gasum Group reports its financial results for Q2 2019
10:30 MABUX: Bunker market this morning, July 17
10:17 AS Tallinna Sadam reports its 2019 Q2 passenger and cargo flows
09:54 Bunker prices increase at the port of Saint-Petersburg, Russia (graph)
09:35 Brent Crude futures price is up 0.25% to $64.51, Light Sweet Crude – up 0.03% to $57.64
09:19 Baltic Dry Index is up to 2,011 points

2019 July 16

18:06 CMA CGM announces FAK rates from Asia to North Africa
17:49 Marine Recruiting Agency to recruit personnel for Petrolesport
17:36 Hapag-Lloyd adds vessel to its North America Westcoast / Oceania Service
17:24 Turnover of DeloPorts’ terminals in 1H’19 decreased by 25% YoY to 3.2 mln tonnes
17:06 Odfjell SE sells its ownership share of terminal in Jiangyin, China
16:30 Keppel secures contract from Yinson for the modification of FPSO
16:01 More than 100,000 containers shipped via Intercity Barge at the Port of Rotterdam
15:56 Van Oord orders third trailing suction hopper dredger from Keppel
15:35 Rostransnadzor launches pilot project on remote monitoring of water transport companies’ compliance with mandatory requirements
15:10 Hapag-Lloyd announces rate restoration from East Asia to North Europe and Mediterranean
14:51 Bunker market sees mixed price movements at the Far East ports of Russia (graph)
14:29 Baltic Transport Forum - development momentum for the region
14:10 Hapag-Lloyd launches new Africa service
13:46 Sea Port of Saint-Petersburg puts into operation new ecological equipment
13:25 Leading Port Planning & Development World Summit comes to Brussels, Belgium this October
13:01 CMA CGM announces GRR from Asia to West Africa
12:37 Naval Group launches first in Barracuda-class series of six nuclear submarines
12:10 Port of Oakland exports up 4.2 percent in June 2019
11:26 Nefteflot CJSC lays down third 4,800DWT barge of Project RDB12 ordered by STLC
11:01 CMA CGM announces FAK rates from Asia to North Europe
10:40 Scope of repair dredging performed by FSUE Rosmorport in 2019 to total about 10 million cbm
10:17 Investment dues collected in Russia’s seaports in 2019-20 to be used for four projects
10:14 MABUX: Bunker market this morning, July 16
10:14 Wärtsilä chosen for another environmentally sustainable hopper dredger from Damen Shipyards
09:54 Icebreaking and Support Fleet conference to be held in Saint-Petersburg on September 16 as part of NEVA-2019 exhibition’s zero day
09:35 Brent Crude futures price is up 0.06% to $66.52, Light Sweet Crude – down 0.05% to $59.55
09:18 Baltic Dry Index is up to 1,928 points

2019 July 15

17:58 IAPH welcomes new Associate Member from Switzerland
17:33 NIBULON transported 3.5 million tonnes of cargoes by water transport
17:06 Hapag-Lloyd to introduce new Middle East-India-Africa Express Service
16:07 Desktop Just-In-Time trial yields positive results in cutting emissions
15:44 Prevention of marine pollution in South Asia discussed at regional workshop
15:15 Cargotec’s MacGregor receives clearance from the Chinese competition regulator for the acquisition of the marine and offshore businesses of TTS Group
14:56 Murmansk Sea Fishing Port handled 116,000 tonnes of cargo in 6M’2019, down 35.5% Y-o-Y
14:39 RS issues revised Rules for Classification and Construction of ships carrying liquefied gas