Maersk

Massive Hong Kong shark fin seizure as ban flouted

Hong Kong - Arab Today

Hong Kong authorities have seized more than a tonne of shark fins as activists warn traders are sneaking the sought-after delicacy into the city by mislabelling shipments to get around bans by major transporters. The city is one of the world's biggest markets for shark fin -- often served as a soup at expensive Chinese banquets -- but it prohibitsRead more

Shipping prices sink Maersk profit

Copenhagen - AFP

Danish conglomerate A.P. Moller-Maersk said Wednesday that its third quarter profit tumbled 44 percent to $429 million (387 million euros) as low fees pushed its world-leading shipping service into loss. However the company, which is in the midst of splitting off its oil and oil-related businesses, said profit rebounded in these units. Overall, the group's sales contracted nine percent toRead more

Maersk to mull splitting group under new CEO

Copenhagen - AFP

Danish oil and shipping conglomerate A.P. Moller-Maersk said on Thursday it is considering splitting the group into several separate companies, as it named a new chief executive. The company said the current chief executive of shipping unit Maersk Line, Soren Skou, 51,would replace Nils Andersen, 57, at the helm, combining two roles as he would continue to head the shippingRead more

Danish container ship crosses Suez Canal

Ismailia - MENA

A giant Danish container ship crossed the Suez Canal en route to the Red Sea, an official source with the Suez Canal Authority said on Sunday. The ship, belonging to Maersk shipping agency, can carry about 18, 270 containers on board for one trip, added the source. It crossed the canal in 13 hours carrying 200,000 tons, according to theRead more

QP president & CEO holds meeting with Maersk Oil Qatar employees

Doha - Arab Today

Qatar Petroleum (QP) President & CEO Saad Sherida Al-Kaabi held a meeting with the employees of Maersk Oil Qatar. Al-Kaabi also conducted a video conference today with the company's employees present at the offshore facilities of Al-Shaheen oil field. Both the Town Hall meeting and the video conference were organized to express QP’s commitment to support the safe and continuousRead more

Maersk considering shutdown of North Sea gas production

Copenhagen - XINHUA

The Danish oil and shipping giant Maersk has said it could shut down nearly all of its gas production in the North Sea within years thanks to the low oil prices, local media reported on Monday. The company was cited by local newspaper The Copenhagen Post as saying that it is considering a complete closure by 2018 if a moreRead more

Maersk’s Profits Plunge On Weak Trade And Low Oil Prices, Outlook Remains Bleak

Copenhagen - AFP

Hit by a sharp drop in freight rates and oil prices, Denmark’s AP Moller-Maersk — the world’s largest shipping company — reported an 84 percent plunge in its 2015 profits and a 15 percent annual drop in revenue. In its earnings report released Wednesday, the company — which announced 4,000 job cuts from its land-based staff of 23,000 in NovemberRead more