Denmark's A.P. Moller-Maersk has chosen Carolina Dybeck Happe as its new Chief Finance Officer, it said on Wednesday.Happe will take the position at a time where Maersk is undergoing a strategic transformation from a broader conglomerate including an oil business to a more focused shipping company.
China and the United States sank into a deepening trade conflict that roiled financial markets Tuesday after U.S. President Donald Trump threatened to impose tariffs on an additional $200 billion of Chinese products, prompting Beijing to accuse Washington of starting a trade war.Trump said Monday his threat was retaliation for China's decision to raise tariffs on $50 billion of U.S.
Singapore marine fuel sales climbed to a four-month high of 4.283 million tonnes in May, up 1.2 percent from the previous month and 2.5 percent higher compared with a year ago, data from the Maritime and Port Authority of Singapore (MPA) showed on Wednesday.The strong volumes sold in May were largely in line with industry expectations and come despite sharply higher bunker fuel prices due to
Captain Sig Hansen has been fishing crabs in Alaska aboard the F/V Northwestern for more than 30 years. In 2005, Discovery Channel aired the documentary TV show “Deadliest Catch”, which portrays real life aboard fishing vessels in the Bering Sea. Since then, he has been one of the most charismatic characters of the globally watched TV show.
A Danish court on Wednesday sentenced the former manager of OW Bunker's Singapore subsidiary to 18 months in prison after he was found guilty of granting credit outside his mandate, contributing to the bankruptcy of the marine fuel oil supplier.The 2014 bankruptcy of OW Bunker, then the world's leading supplier of marine fuel oil with a 7 percent market share
A.P. Moller-Maersk missed first-quarter profit expectations on Thursday and warned that political and trade tensions clouded the outlook, sending shares in the world's biggest container shipper sharply lower.Earnings before interest, tax, depreciation and amortization (EBITDA) for the three months to March 31 rose 5 percent to $669 million but came in well below the $852 million forecast by
Danish oil product tanker operator Torm on Tuesday said it has stopped taking new orders in Iran as a consequence of U.S. plans to reimpose sanctions on Tehran."We follow the situation closely and always follow the rules. Therefore, we have also stopped taking new orders in Iran," a spokeswoman told Reuters.Torm operates 79 oil product tankers worldwide.
Shipping group A.P. Moller-Maersk is likely to shelve plans to list its struggling offshore drilling division because of weak market conditions, according to five finance sources familiar with the matter.The Danish company is now expected to focus on a trade sale of Maersk Drilling, and extend the timeline to divest the unit beyond its initial target of the end of 2018
A former commander has become the latest U.S. Navy official to plead guilty in a wide-ranging corruption and fraud investigation involving the foreign defense contractor known as “Fat Leonard”. In what has become the largest corruption scandal in U.S. Navy history, former U.S. Navy commander Troy Amundson pleaded guilty on Tuesday to conspiracy to commit bribery
Danish inventor Peter Madsen tied up and abused Swedish journalist Kim Wall before murdering her on board his home-built submarine, according to the indictment published on Tuesday. Madsen planned the murder by bringing items, including a saw and screwdrivers, which were used to hit, cut and stab Wall while she was alive, the prosecutors said.
Award to be presented March 14, 2018 at the conclusion of the CMA’s Shipping 2018 Annual Conference and Exposition. Ms. Sabrina S. M. Chao, Executive Chairman of Wah Kwong Maritime Transport Holdings Ltd. has been named as the Connecticut Maritime Association (CMA) Commodore for the year 2018. Ms. Chao follows a long succession of influential maritime industry leaders as Commodore.
A.P. Moller-Maersk has agreed a $1.71 billion deal to sell its oil tanker division to its controlling shareholder, who in turn will enter an ownership consortium with Japan's Mitsui & Co. The Danish conglomerate last year embarked on a restructuring to focus on transport and logistics and last month sold its oil and gas business to Total in a $7.45 billion deal.