Maersk has spent hundreds of millions on making its port division more efficient using robot technology. Now it turns out that a grand prestigious project worth USD 600 million has had the opposite effect.
Maersk Ocean delivers an improved operating profit of USD 925 million in the third quarter, while the segment's revenue grew 32 percent. But the towering bunker prices still strain the business, says CEO Søren Skou.
There is improvement on the way for the West African ports after the area has been particularly squeezed by oil prices for more than a decade, shows a new report from Dynmar. The report forecasts higher growth in container rates ahead to 2021.
Drewry projects a historically low percentage growth of container terminals' total capacity heading towards 2022. However, the maritime and supply chain consultancy firm expects that utilization rates will increase, which is welcome news for existing terminals.
APM Terminals is selling its container terminal in Izmir, Turkey, to Socar, the current partner in the terminal. The transaction is expected to be completed in the coming months as soon as the final approvals are settled.
Operational disturbances and major labor strike costs at APM Terminals in Gothenburg are a thing of the past. But the terminal still has some way to go before it fulfills its ambitions, Managing Director Henrik Kristensen tells ShippingWatch.
As ShippingWatch reported recently, Maersk Group is preparing a large-scale overhaul of organization, and this will likely be presented next week. According to Ritzau Finans, this will happen on Sept. 19. The organization is "on hold" right now, sources say.
Chinese Cosco's billion dollar investment in Peru falls right into APM Terminals' sphere of interest. The new port in Chancay is located just 70 kilometers from Maersk's Pacific hub in Callao. Peru has become the terminal operators' new battleground.
Many former APM Terminals senior executives have pursued new careers following their departures from the Maersk Group terminal operator, as the entire executive team from the golden expansion years is now gone. Read on to learn where they are today.
At the Maersk Capital Markets Day this Tuesday, the group's Executive Board will present its strategy for the coming years for its core business Transport & Logistics to a broad range of investors and analysts. Find the plan here.
In December 2017, a court in Guatemala decided to terminate the original concession agreement covering major port TCQ, which APM Terminals acquired three years ago. The TCQ acquisition has already cost millions of dollars due to old bribery case from 2012.
After the sale of Maersk Oil and Maersk Tankers, the new Maersk setup is focused on the container business with Maersk Line and APM Terminals as its two pivotal points. Here are the key figures from the core business.