• 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 April 19

18:07 Keppel posts net profit of S$203M in 1Q 2019
17:28 Passenger Port of Saint-Petersburg to complete Phase 1 of Berth No7 reconstruction in summer 2019
17:04 Saudi Aramco partners with the Saudi Contractors Authority fostering collaboration at ‘Future Projects Forum’
16:57 BAE Systems Jacksonville secures Navy's conntract mod for DDG 117
15:04 Hyundai LNG Shipping announces order for one VLGC at HHI
14:55 Marina for 100 yachts to be built in Feodosia by Firm “TES” LLC
14:10 C-Fenna successfully completes Fugro 1200 jackup towing operations
13:32 ESPO congratulates Port of Huelva for renewing EcoPorts’ environmental management standard
13:07 Spirit of Vancouver Island vessel returns to service after mid-life upgrade including conversion to natural gas
12:44 New High Bay Container Storage system launched as “BOXBAY”
12:10 ABS teams with industry leaders to improve container vessel safety
11:39 Port Arthur LNG receives FERC authorization for export project in Texas
11:08 Dual-fuel AET tankers conduct maiden LNG bunkering
10:43 Largest barge of Azerbaijan Caspian Shipping Company undergone overhaul
10:19 Brent Crude futures price is down 0.04% to $71.95, Light Sweet Crude – up 0.38% to $64
09:56 Bunker prices are sable at the port of Saint-Petersburg, Russia (graph)
09:35 TransContainer’s transportation volumes in Q1’2019 increased by 7.7% Y-o-Y to 492,000 TEUs
09:17 Baltic Dry Index is up to 790 points
07:42 GTT receives an order from DSME for the tank design of a new LNG carrier

2019 April 18

18:36 South Stream Transport B.V. and Saipem announce the amicable settlement of mutual differences
18:06 Seaway 7 selected as partner to develop Hollandse Kust Zuid Offshore Wind Farm
17:36 WinGD reports strong first quarter 2019
17:11 Launching ceremony held for eighth shallow-draft barge of Project ROB20
17:05 SOFEC completes engineering, supply and delivery of mooring system
16:26 Port of Murmansk to welcome eight cruise liners in summer season of 2019
16:05 Cooperation agreement between Eimskip and Royal Arctic line approved by the Icelandic Competition Authority
15:44 Navios Acquisition announces $103.2 million sale and leaseback transaction for three MR2 product tankers and two LR1 product tankers
15:12 Nefteflot laid down two barges of Project RDB12 ordered by STLC
15:10 MOL to acquire strategic stake in six group companies, each owning a Very Large Ethane Carrier
14:40 Port of Rotterdam freight throughput grows by 5.1% in first quarter of 2019
13:44 Bunker prices are slightly up at the Far East ports of Russia (graph)
13:03 Biggest European shipbuilders collaborate on vessel connectivity in project Code Kilo
12:49 NOVATEK reports preliminary operating data for the first quarter 2019
12:13 Frontex, EMSA and EFCA open second annual European Coast Guard Event
11:51 RF Navy’s Northern Fleet takes part in combat training missions as part of final check for winter training season
11:27 ASCO took part in TransRussia-2019
11:00 ZIM joins to blockchain shipping solution TradeLens
10:44 Shareholders agreement on construction of Lavna terminal signed under Murmansk Transport Hub project
10:28 Brent Crude futures price is up 0.1% to $71.69, Light Sweet Crude – up 0.09% to $63.82
10:09 ABS teams with industry leaders to improve container vessel safety
09:53 Keppel secures integration and upgrading contracts worth around S$160 million
09:37 Tri-City ports take part in Seatrade Cruise Global
09:36 Bunker Market this morning, April 18
09:15 Baltic Dry Index is up to 767 points

2019 April 17

19:00 SMS Towage’s Humber fleet adds new tug
18:36 CMA CGM has announced FAK rates from Asia to North Africa
18:06 DESMI's CompactClean Ballast Water Management System receives US Coast Guard Type Approval
17:36 Denmark's first new-build hybrid ferry on key passenger route
17:06 CMA CGM announces FAK rates from Asia to the Mediterranean
16:38 Matson receives new cranes at its Honolulu hub terminal
16:17 Stena Europe undergoes refit upgrades in Turkey
16:11 Kuehne + Nagel launches first online seafreight service solution with guaranteed lead time in container shipping
15:40 HELCOM addressed nutrients, stormwater and microlitter issues at PRESSURE 10-2019
15:04 Murmansk Commercial Seaport commissions dust and wind shields
14:39 Port of Riga and Port of Qingdao sign Cooperation Agreement
14:02 Damen launches two road ferries for Canadian operator BC Ferries
13:22 DNV GL awards CMHI AIPs for two new offshore designs
12:53 Pacific Fleet warships and Royal Thai Navy hold joint trainings in the Sea of Japan
12:31 Port of Cardiff prepares for start of 2019 cruise season
12:22 Tristar Group signs second major deal with Shell for 6 chemical tankers