Tag: Maersk

The occasion marked his 20 years as a Life Honorary Member of the Exchange. The achievements of Maersk Mc-Kinney Møller (98) were celebrated at a lunch attended by the legendary Danish shipowner and held in his honour on Wedseday on 12 October, at London's Baltic Exchange.The occasion marked his 20 years as a Life Honorary Member of the Exchange. Welcoming Mr Mc-Kinney Møller to the Baltic Exchange, its Chairman Mark Jackson said:"It is a delight that you have been able to accept our invitation and I very much hope that you will feel that you are back among friends."Referring to Mr Mc-Kinney Møller's speech of 1991 when he accepted his Life Honorary Membership, Mark Jackson said:"During your speech in October 1991 you talked about the professionalism of the Baltic membership; their thoroughness and attention to detail, but nonetheless the way in which everyone was expected to stand by the arrangements they had agreed verbally. I am pleased to say that the Baltic still demands these standards of behaviour and remains a firm proponent of the highest possible standards in all matters in shipping."Mr Mc-Kinney Møller first visited the Baltic Exchange in 1936 as an apprentice to the British shipping firm ...

Paying $1.4bn for interests in eight carriers, Teekay LNG Partners has agreed a deal to buy the LNG shipping fleet of AP Moller-Maersk.Its joint venture with Japan's Marubeni will pay $1.4bn for interests in eight carriers, it said.Unsurprisingly, it said the transaction was "expected to be accretive" to its distributable cash flow per unit.It will pay for the ships through $1.12bn of new loans and a portion of its existing liquidity.The venture will own six carriers outright, plus a 26% holding in two more.Five of the eight are operating under long-term, fixed-rate time-charter contracts, with an average remaining firm contract period duration of approximately 17 years, plus extension options.One of the others has an option to extend its short-term deal.Teekay will have 52% of the joint venture.The unnamed owners of the vessels not 100% controlled by Teekay and Marubeni have a put option to sell their stakes.A partnership between Mitsui OSK Lines (MOL) and Qatar's Nakilat was also in the running for the fleet.Teekay chief Peter Evensen said: "The eight acquired vessel interests will increase the total number of vessels in which we have ownership interests, including committed newbuildings, to 45 vessels, and the time-charter contracts acquired with these vessels ...

Its fourth U.S. flag tanker Maersk Line, Limited (MLL) and its guests celebrated the naming of its fourth U.S. flag tanker, the MAERSK PEARY, last Friday at the Half Moone Cruise and Celebration Center in Norfolk. The freshly painted, 591-foot ship sat pier-side in downtown Norfolk and was adorned with red, white and blue bunting as distinguished guests, customers, partners, and colleagues welcomed the vessel into MLL's U.S. flag fleet.The vessel is ice-classed and is aptly named after Rear Admiral Robert E. Peary, famous for his excursions to the North Pole. This extraordinary vessel will travel annually to Thule Air Force Base, Greenland and McMurdo Station, Antarctica delivering fuel to support military operations and research at the top and bottom of the globe. In July, MLL won a long-term time charter from the U.S. Navy's Military Sealift Command to support these missions. MAERSK PEARY was reflagged into the U.S. registry on September 19, 2011, and American officers and crew will operate the ship."The name-giving is a great opportunity to honor our customers and partners; reflect on our company's commitment to the U.S. flag maritime industry; and celebrate the strengthening of these partnerships," said John F. Reinhart, President and CEO of ...

Orlen Lietuva to supply Quadrise Fuels International's Marine MSAR fuel UK-based Quadrise International says it has finalised contracts to commence sea trials of its Marine MSAR bunker fuel, moving the company a step closer to commercialisation. Quadrise is developing the emulsion fuel as a low cost alternative to heavy fuel oil in the shipping, refining and power generation markets. The results of the sea trials evaluation programme are expected during the first half of next year.The company has signed deals with AP Møller-Mærsk, Orlen Lietuva refinery in Lithuania and AkzoNobel Surface Chemistry which, Quadrise says "define the contributions and responsibilities for all facets of the production and evaluation programme".Qradrise's executive chairman Ian Williams said: "These sea trials represent a key milestone for the Company and, potentially, for the marine sector. QIL and its partners have worked tirelessly to get to this stage of Marine MSAR? evaluation. We look forward to confirming the opportunity that this represents for the Company and our partners in the marine fuels industry."The trial starts with the installation of an MSAR manufacturing unit at the 200,000 barrel per day Orlen Lietuva refinery in Mazeikiai, followed by the production of an initial volume of Marine MSAR fuel. ...

Focus on fuel changing the industry The world's biggest container shipping company, Maersk Line, is confident its order for 20 giant new vessels will not spoil the market and only a few rivals will order such ships, a senior Maersk executive said.Maersk Line, a unit of Danish shipping and oil group A.P. Moller-Maersk (MAERSKb.CO), has ordered 20 of the new Triple-E class vessels from South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd .The first of the vessels with capacity for 18,000 20-foot equivalent unit (TEU) containers are due to be delivered in July 2013 and the last in mid-2015, and some analysts warn the capacity expansion could flood the market.The ships will serve on Asia-Europe routes.Soren Andersen, Maersk Line's head of Maersk Line's vessel management team, told the Informa Maritime Events conference he did not expect the Triple-E class to become a new industry standard like the 13,000 TEU New Panamax class."Generally, it will be only very few companies who will go for these ships," Andersen said. "I don't see a new industry standard emerging."Andersen said this was because "money was harder to come by" now than before and few rivals had the financial muscle that Maersk Line has ...

Maersk Line expanded its Asia-Europe Service 7 with a direct call at Qingdao Maersk Line expanded its Asia-Europe Service 7 with a direct call at Qingdao, China, effective this month.The additional port call came into effect with the sailing of vessel Teno from Qingdao on Sept. 20. The upgraded AE7 rotation is Da Chan Bay, Qingdao, Ningbo, Shanghai, Xiamen, Yantian, Tanjung Pelepas, Port Tangier, Felixstowe, Bremerhaven, Rotterdam, Port Tangier, Jeddah, Jebel Ali, and Da Chan Bay.The Danish carrier recently implemented a series of changes in the port coverage of its Asia-Mediterranean service network, including the AE11 and AE15, to improve service reliability and transit times on the route.Source: The Journal of Commerce

Order for lifeboats, davits, fast rescue boat for Maersk Drilling Norwegian company Noreq has received an order for lifeboats, davits, fast rescue boat and rescue boat davit for six drill ships for Maersk Drilling, which are being built at Samsung Heavy Industries in South Korea.The contract is for a package for each ship comprising six 80-person lifeboats together with davits, plus one fast rescue boat with davit. The total makes it, according to Noreq, the largest single lifeboat order it has received.This new order joins several other recent contracts. "2012 and 2013 are looking to be very promising for our company, and we are proud to be approved by the biggest players in our industry. We are confident that more orders are coming our way as even more yards and owners discovers the benefits of our davit system" says managing director Styrk Bekkenes.Source: The Motorship

Maerskto reduce sulphur oxides (SOx) and particulate matter A switch to low sulphur fuel by Maersk Line in the port of Singapore has reduced particulate matter generated from vessels by at least 65% the company says. From the beginning of July Maersk switched to burning fuel with a maximum of 1% sulphur in the port of Singapore, and so far about 80% of its vessels have made the switch.Maersk said the switch had reduced sulphur oxides (SOx) and particulate matter generated by its vessels by at least 65%."With this fuel switch, we are well on our way to achieve our target of implementing at least ten fuel switch programmes by 2015," said Thomas Riber Knudsen, ceo for Maersk Line Asia Pacific region.Source: Seatrade Asia

To commit to infrastructure investments in Indonesia AP Moller-Maersk Group and Indonesian port operator Pelindo II inked a memorandum of understanding on Wednesday to commit to infrastructure investments in Indonesia."Indonesia is already an important market for Maersk, and we are interested in committing more of our resources to expand our operations in the country," said Nils Andersen, ceo of AP Moller-Maersk.Andersen said the group intends to develop and expand the infrastructure of Indonesia in cooperation with Pelindo II, facilitating Indonesia's growing foreign trade.The memorandum of understanding outlines a plan for training and development of Pelindo II staff as well as providing consultancy support in lifting operational efficiencies in one of the Pelindo II facilities.Source: Seatrade Asia

Maersk is investing $600,000 USD As part of its drive to cut sulphur emissions from its fleet towards zero, Maersk Line will test a new exhaust gas cleaning system."Sulphur is a major problem for our industry.We are concerned with the impact on public health, in particular for people living close to busy ports," says Jacob Sterling, Head of Climate and Environment, Maersk Line.Maersk Line will test an advanced scrubbing system developed by BELCO? and designed for installation at Maersk Line and Maersk Tankers vessels. The high efficiency technology can cut SOx emissions by more than 97%."We have been investigating SOx scrubber technologies for several years to find appropriate technology for installation on our ships. We are pleased with our partnership with BELCO? and trust it will bring us one step further in understanding our possibilities to improve environmental performance in a cost effective manner," says Bo Cerup-Simonsen, Head of Maersk Maritime Technology.Maersk is investing $600,000 USD in the installation and operation of the scrubber. The system will be operational on container ship Maersk Taurus in 2012 and can be in use throughout the voyage if conditions are appropriate."Global sulphur legislation will kick in over the next few years so the ...