Maersk invests or commits $12bn in 2011 to maintain lead
MAERSK group's strong cash flow and healthy balance sheet make it possible to invest in long-term profitable growth of the core businesses in spite of short-term market volatility and risks, the company declared on its website, Shippingazette reports.
"Container shipping will remain a high growth industry and Maersk Line will be the undisputed industry leader - delivering margins and returns ahead of competition. Customer focus combined with an efficient fleet will secure and strengthen competitiveness," said the statement.
APM Terminals aims to be the leading global port operator with financial returns and growth above market and will be a significant contributor to the groups cash flows and earnings, said the statement.
In the first half-year of 2011 alone, Maersk group has either spent or committed US$12 billion on various projects. "We are investing in a strong and exciting future for the group and its employees," said CEO Nils Andersen.
"We want to strengthen our market positions further, especially in growth markets, and our focus will primarily be on seven core businesses within two industries, shipping and oil and gas," said Mr Andersen.
Within the shipping industry, two core businesses - container shipping and terminal activities - will have priority for investment in further growth, whereas investments in Maersk Tankers, Damco and Svitzer will be driven by market opportunities, said the company statement.
Mideast unrest has analysts doubtful of full Libyan oil production till 2013
EVENTS in Libya and Syria will mean full oil production will not be achieved until 2013, leaving the tanker market "restricted" for some time to come, reports Gibson Research, adding that other commentators are even more pessimistic.
Gibson, a broking house, said that even if there is stability in Libya, no one expects a quick turnaround in oil production and exports, reported Tanker Operator. There was virtually no oil production in Libya at the end of August, said the analysts..
There are suggestions that it may get up to 0.3 million barrels per day this year and 0.5 million barrels per day by mid-2012, with the return to the pre-crisis level of 1.6 million barrels per day in six to 12 months after that.
"Container shipping will remain a high growth industry and Maersk Line will be the undisputed industry leader - delivering margins and returns ahead of competition. Customer focus combined with an efficient fleet will secure and strengthen competitiveness," said the statement.
APM Terminals aims to be the leading global port operator with financial returns and growth above market and will be a significant contributor to the groups cash flows and earnings, said the statement.
In the first half-year of 2011 alone, Maersk group has either spent or committed US$12 billion on various projects. "We are investing in a strong and exciting future for the group and its employees," said CEO Nils Andersen.
"We want to strengthen our market positions further, especially in growth markets, and our focus will primarily be on seven core businesses within two industries, shipping and oil and gas," said Mr Andersen.
Within the shipping industry, two core businesses - container shipping and terminal activities - will have priority for investment in further growth, whereas investments in Maersk Tankers, Damco and Svitzer will be driven by market opportunities, said the company statement.
Mideast unrest has analysts doubtful of full Libyan oil production till 2013
EVENTS in Libya and Syria will mean full oil production will not be achieved until 2013, leaving the tanker market "restricted" for some time to come, reports Gibson Research, adding that other commentators are even more pessimistic.
Gibson, a broking house, said that even if there is stability in Libya, no one expects a quick turnaround in oil production and exports, reported Tanker Operator. There was virtually no oil production in Libya at the end of August, said the analysts..
There are suggestions that it may get up to 0.3 million barrels per day this year and 0.5 million barrels per day by mid-2012, with the return to the pre-crisis level of 1.6 million barrels per day in six to 12 months after that.