Disclaimer

The articles excerpted on this site report on the state of the industry as seen by mainstream media, and do not necessarily reflect the opinion of the officers of the ILWU Coast Longshore Division.

Maersk slumps to only its second annual loss in seven decades

Excerpts from the Financial Times:

Shares in Maersk fell as much as 7 per cent on Wednesday as it reported only its second annual loss in seven decades and halved its dividend to try to protect its investment grade credit rating.

Maersk recorded a net loss of $1.9bn for 2016, compared with analysts’ expectations of […]

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AP Møller-Maersk considers break-up

One of Europe’s biggest industrial conglomerates is debating whether to split itself up after Denmark’s AP Møller-Maersk fired its chief executive and launched a sweeping strategic review.

Maersk’s shares jumped 12 per cent on Thursday after news of the potential shake-up and the appointment of Soren Skou, the head of container shipping unit Maersk Line, […]

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Maersk CEO: 25,000 TEU Ships ‘Not Practical’

Maersk Line CEO Soren Skou has said that although ships with capacities of 25,000 TEU are possible, they are not practical, and expects 18,000-19,000-TEU container ships to remain the largest traversing the oceans for years to come.

Skou believes there are no design barriers that would prevent construction of a 25,000 TEU ship. However, he […]

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Maersk CEO complains of ‘spending more time in port because of bigger ships’

In a conversation with JOC,com, Maersk CEO Soren Skou complained about the company’s vessels spending more time in ports because the size of the carrier’s ships have doubled in the past few years — an industry move that the Federal Maritime Commission has identified as a major cause of congestion. Excerpts from the article, titled […]

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Maersk CEO says shippers won’t pay for faster service

From the Journal of Commerce:

Beneficial cargo owners won’t pay much of a premium for faster service or other ways carriers might be able to differentiate their ocean container services, Maersk Line CEO Soren Skou said.

“I frankly don’t think it’s possible that there are huge opportunities for charging premiums for service in our industry,” […]

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