Maersk Archives — City Business News

May 1, 2024 No Responses

Maersk debunks $600m Investment In Nigeria

The management of AP Moller-Maersk has debunked report that it is planning to invest $600 million in Nigerian seaport infrastructure. The Nigerian Government through a statement had claimed that the Danish shipping conglomerate promised to bring an additional $600 million...

January 16, 2024 No Responses

APM Terminals To Invest $500m In Port Terminal

A.P. Moller-Maersk’s APM Terminals has partnered with Plaquemines Port Harbor and Terminal District (Plaquemines Port) to build a major container terminal on the West Bank of Plaquemines Parish, Louisiana, United States. According to APM Terminals, the new t...

November 4, 2023 No Responses

Maersk To Sack 10,000 Workers

Danish container shipping giant, A.P. Moller-Maersk has revealed further downturn in both profit and revenue, resulting in a decision to cut 10,000 jobs as a response to the ongoing challenges of declining freight rates and lackluster demand within the contain...

July 1, 2023 No Responses

Maersk, CMA CGM, Evergreen Stake $5b On 44 Ships

The container shipping market is bustling with activity as container shipping giants Maersk, Evergreen, and CMA CGM collectively place orders for up to 44 containerships, valued at over $5 billion. World Maritime News report that Evergreen has emerged as ...

May 17, 2023 No Responses

Maersk Completes Energy-Related Businesses Divestment

A.P. Moller – Maersk has completed the divestment of Maersk Supply Service (MSS) announced two months ago. At closing, A.P. Moller Holding, the parent company of the A.P. Moller Group, will assume full ownership of MSS. Maersk Supply Service will...

May 4, 2023 No Responses

Maersk Reports $5.7b Drop In Q1 Profit

Danish container shipping major Maersk has reported a massive drop in its ocean revenue for the first quarter of this year, plunging by $5.7 billion to $9.9 billion year-on-year amid lower freight rates and softened demand. Last year saw a...

February 20, 2023 No Responses

Seaport, Maersk To Develop $346m logistics Park

Danish shipping giant, A. P. Moller – Maersk and Saudi Ports Authority (Mawani) have laid the foundation stone for a multi-purpose, environmentally friendly logistics park at Jeddah Islamic Port. The greenfield project spread over an area of...

February 9, 2023 No Responses

Maersk Explains $29.3b 2022 Profit, Assigns $11b For Integration, Decarbonization

Foremost Container shipping heavyweight, A.P. Moller – Maersk has reported exceptional financial results for the year 2022. Despite the abnormal market conditions caused by the COVID-19 pandemic, the company reported solid performance across all its bu...

December 13, 2022 No Responses

Maersk CEO Steps Down

The Chief Executive Officer (CEO) of A. P. Møller – Mærsk A/S (Maersk), Soren Skou, who has led the transformation of the company from a diversified conglomerate to an integrated logistics company, is retiring. Vincent Clerc, currently CEO...

December 7, 2022 No Responses

Maersk Nigeria Gets New MD

Albert Van Rensburg has been appointed as the new Managing Director for Maersk Nigeria, effective 1 January 2023. City Business News report that Albert replaces Lara Lana, who, after 20 years, has decided to pursue opportunities outside of Ma...

November 25, 2022 No Responses

Maersk Settles Sexual Assault Litigation

Maersk Line Limited (MLL), a wholly-owned subsidiary of A.P. Moller – Maersk, has settled litigation with Hope Hicks, a former midshipman on the Maersk Line’s ship Alliance Fairfax, filed against the company in New York Supreme Court in June for...

November 13, 2022 No Responses

Maersk Seeks End Date For Fossil Fuels In Shipping

The only way to lower greenhouse gas emissions in shipping and entice companies to set zero-emission targets in the sector is by setting an end date for fossil fuels in the shipping industry through a global regulation, Maersk’s Chief Advisor...

August 17, 2022 No Responses

Maersk, Suez Canal Sign $500m Port Development Deal

A.P. Moller – Maersk and the Suez Canal Authority (SCA) have signed a $500 million deal for the development of the Suez Canal Container Terminal (SCCT) in East Port Said. The investment includes a new 1,000-meter container berth adjacent to...

July 6, 2022 No Responses

Maersk Tankers Unveils Digital Solution To Track Emissions

Danish tanker shipping firm Maersk Tankers, together with shipowners in its pools, has launched a new digital solution to help owners meet the required marine emissions standards. Shipowners are facing new regulations from 1 January 2023, requiring them to tra...