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Maersk

Coordinates: 55°41′14.81″N 12°35′53.28″E / 55.6874472°N 12.5981333°E / 55.6874472; 12.5981333
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A.P. Møller – Mærsk A/S
Company typePublicly traded aktieselskab
Nasdaq Copenhagen: MAERSK A, MAERSK B
IndustryConglomerate
Founded1904
FoundersPeter Mærsk-Møller Arnold Peter Møller (Chairman)
HeadquartersCopenhagen, Denmark
Key people
Nils Smedegaard Andersen(CEO)
ProductsContainer shipping and terminals, ferry and tanker transport, semi-submersible drilling rigs and FPSOs, oil and gas exploration and production, shipyards, store retail
RevenueDKK 366.236 billion (2013)[1]
DKK 41.214 billion (2013)[1]
DKK 19.007 billion (2013)[1]
Total assetsDKK 403.296 billion (end 2012)[1]
Total equityDKK 230.108 billion (end 2012)[1]
Number of employees
89,000 (average, 2013)[1]
Websitewww.maersk.com
Maersk head office

A.P. Moller–Maersk Group (Danish: A.P. Møller–Mærsk A/S, Danish pronunciation: [ˈæːˀ ˈpʰeːˀ mølɐˈmæɐ̯sg̊]), also known as Maersk, is a Danish business conglomerate.[2] A.P. Moller – Maersk Group has activities in a variety of business sectors, primarily within the transportation and energy sectors. It has been the largest container ship operator and supply vessel operator in the world[3] since 1996.[4]

A.P. Moller – Maersk Group is based in Copenhagen, Denmark,[5] with subsidiaries and offices in more than 135 countries worldwide and around 89,000 employees.[1] It ranked 142 on the Forbes Global 2000 list for 2014.[6]

History

Main article: History of Maersk
Laura ship (cpt. Maersk) in Svendborg, Denmark

A.P. Moller – Maersk Group started as the shipping company Dampskibsselskabet Svendborg (Danish for "Svendborg Steamship Company") founded by captain Peter Mærsk-Møller and his son Arnold Peter Møller (2 October 1876 – June 1965) in Svendborg, 1904. A.P. Møller had four children, two by each of his two wives Chastine Estelle Roberta Mc-Kinney and Norwegian-born Pernille Ulrikke Amalie Nielsen. A.P. Møller's second child was Arnold Mærsk McKinney Møller (13 July 1913 – 16 April 2012). In 1939, Mærsk Mc-Kinney Møller became a partner in the company. Following the death of A.P. Møller in June 1965, he became CEO of the company and held this post until 1993, when he was succeeded by Jess Søderberg. Beginning in 1965, Mærsk Mc-Kinney Møller also served as company chairman and did not relinquish this position until December 2003 (90 years old), when the chairmanship was taken over by Michael Pram Rasmussen. Mærsk Mc-Kinney Møller was until his death one of the "managing owners" of the company and was chairman of Odense Steel Shipyard until 2 May 2006.[2]

P.M. Møller (1836–1927), who was a deeply religious Christian, attached a blue banner with a white seven pointed star on both sides of the black chimney on the steamship Laura when his wife recovered from illness. In a letter to his wife, P.M. Møller explained in October 1886, "The little star on the chimney is a memory of the night when I prayed for you and asked for a sign: If a star would appear in the gray and cloudy sky, it would mean that the Lord answers prayers." The same star later became the logo for the Maersk Group.[7]

Business areas

A.P. Moller – Maersk's activities are organised into several main business segments: Container shipping and related activities; APM Terminals; Tankers, Training, offshore and other shipping activities; Oil and gas activities; Retail activity; and Shipyards, other industrial companies, interest in Danske Bank, etc.[2]

In May 2014 the company lifted its first-quarter net profit to $1.02bn as a result of Maersk Line improving its operations.[8]

"Container shipping and related activities" is the largest business area for A.P. Moller – Maersk, providing almost half of the group's revenue in 2008. It comprises worldwide container services, logistics and forwarding solutions and terminal activities under the brand names: Maersk Line, Safmarine, Damco and Damco.[9] Since 1996, Mærsk is the largest container shipping company in the world.[4]

Maersk Line

Main article: Maersk Line
Mærsk Kalamata in Seattle harbor
Eleonora Mærsk, one of the E-class vessels

The largest operating unit in A.P. Moller – Maersk by revenue and staff (around 25,000 employees in 2012)[10] is Maersk Line. In 2013 the company described itself as the world's largest overseas cargo carrier and operated over 600 vessels with 3.8 million[11] Twenty-foot equivalent unit (TEU) container capacity.

In 2006, the largest container ship in the world to that date, the E-class vessel Emma Maersk, was delivered to Maersk Line from Odense Steel Shipyard.[12] Seven other sisterships have since been built, and on 21 February 2011, Maersk ordered 10 even larger container ships from Daewoo, the Triple E class, each with a capacity of 18,000 containers. The first were delivered in 2013.[13] It held options for 10–20 more,[14][15][16] and in June 2011 placed follow-on orders for a second batch of ten sisterships (to the same design) with the same shipyard, but cancelled its option for a third batch of ten.

As of February 2010, Maersk had an order book for new ships totalling 857000TEU (including options on the Triple E class); that backlog is larger than the existing fleet of the fourth-largest line, Evergreen Line.[4]

Maersk Line cooperated with the US Navy on testing 7-100% algae biofuel on the Maersk Kalmar in December 2011.[17][18]

In January 2012 Søren Skou took over as CEO of Maersk Line from Eivind Kolding.[19][20] Later that year the company ceased its business in Iran in order to prevent potential damage in the company's business with Western countries, particularly the US, due to the sanctions regime lead by those countries.[21]

MCC Transport

MCC Transport is the Maersk Group's Intra-Asia specialist, focusing on the delivery of containerized cargo services through the dynamic and fast-growing Intra-Asia market through an extensive feeder network and a customer-focused team of professionals.

Seago Line

Seago Line is a subsidiary shipping line which serves ports with the Mediterranean.[22]

Safmarine

Safmarine is an independently operated shipping company in the A.P. Moller – Maersk Group with roots in Africa. It operates a fleet of more than 40 container vessels and more than 20 multi purpose vessels (MPV's). [23] The company has five container vessels and four MPV's on order for delivery in 2009–2011.[needs update][24]

Damco

Damco is the combined brand of the Maersk Group's logistics activities previously known as Maersk Logistics and Damco.[9] Damco has 10,800 employees in offices in more than 93 countries.[9] and is involved in supply chain management and freight forwarding solutions all over the world.

Maersk Line, Limited

Maersk Line, Limited, is a US-based subsidiary of A.P. Moller – Maersk Group which manages a fleet of US-flag vessels and provides U.S. Federal Government agencies and their contractors with transportation and logistics services. Headquartered in Norfolk, Virginia,[25] it manages the world's largest fleet of US-flag vessels. Beginning with a relatively small number of vessels focused on handling commercial and US Federal Government-subsidised cargoes, MLL's fleet of vessels engaged in commercial liner services.

Other

Maersk Container Industry A/S: Container manufacturing with factories in China (Dongguan and Qingdao) and headquarters in Denmark (Tinglev).[2] It was also announced that a new factory in Chile (San Antonio) is under way.[when?]

Container Inland Services: Includes: depots, equipment repair, trucking, container sales and related activity.[2]

Maersk Global service center: Maersk Gsc operates the official shared service centers that does back office, off-shore activities for AP Moller Maersk Group. GSCs are located in cities around the globe, specifically Chennai, Mumbai, Pune, Chengdu, and Manila.

APM Terminals

Main article: APM Terminals
APM Terminals at Portsmouth, Virginia, USA

A.P. Moller – Maersk's independent APM Terminals business unit with its separate headquarters in The Hague, Netherlands, operates a Global Port, Terminal and Inland Services Network with interests in 57 ports and container terminals in 36 countries on five continents, as well as 155 Inland Services operations in 48 countries. Port and Terminal Operations include:

Tankers, offshore and other shipping activities

Tankers, offshore and other shipping activities" was responsible for 8.8% of Maersk's revenue in 2008, and posted 25% of the group's profit for this period. The business segment comprises Maersk Tankers, Maersk Supply Service, Maersk Drilling, Maersk FPSOs, Maersk LNG and Svitzer.[9]

Maersk Tankers

Maersk Tankers is involved in transportation of oil and gas product, among others. As of July 2009, Maersk Tankers operates 140 vessels: 20 crude carriers, 91 product tankers, 21 gas carriers, 8 LNG carriers (for liquefied natural gas). All Maersk Tankers’ tankers are double-hulled, an environmental requirement in much of the world following the 1989 Exxon Valdez oil spill and other serious oil spills.[24] Since 2009, the company (along with other operators) has used slow steaming; reducing speed to minimize fuel consumption and decrease yearly capacity.[26]

Maersk Drilling

Main article: Maersk Drilling

Maersk Drilling is involved in drilling activities all over the world. They service a number of oil and gas companies with drilling of exploration and production wells.[9]

Maersk Drilling owns 26 rigs including six ultra-harsh environment jack-ups, six further jack-ups, four semi-submersibles and 10 drilling barge rigs. In the North Sea, Maersk Drilling operate the world's largest and most advanced harsh environment jack-up rigs, the sister rigs Maersk Innovator and Maersk Inspirer at water depths up to 150 metres (490 ft).[27] In addition, the company has ordered four deepwater drillships from Samsung Heavy Industries and two ultra-harsh environment jack-ups from Keppel FELS.[28] The company has announced that it is investing in developing the technology that allows drilling year-round in the Arctic.[29]

Maersk Supply Service

Maersk Supply Service provides anchor handling, towage of drilling rigs and platforms as well as supply service to the offshore industry. By the end of 2008, the fleet comprised 39 anchor handling vessels (including one chartered vessel), 11 supply vessels and 3 other vessel, and with 14 anchor handling vessels and 2 supply vessels on order.[9]

Svitzer

Svitzer is involved in towage, salvage and other offshore support and is represented in more than 100 ports. By the end of 2008, Svitzer's fleet comprised 347 tugboats (including 14 chartered vessels), 32 standby vessels (including 2 chartered vessels) and 145 other vessels (including 12 chartered vessels). 53 tugboats, 4 standby vessels and 1 other vessel are on order.[9]

bust in Copenhagen

Other

37.5% ownership share of Höegh Autoliners: By the end of 2008, Höegh Autoliners operated 67 car carriers with a transported volume of 1.9 million car units annually.[9]

Oil and gas activities

Main article: Maersk Oil

Maersk Oil (Danish: Mærsk Olie og Gas A/S) was established in 1962 when Maersk was awarded a concession for oil and gas exploration and production in the Danish sector of the North Sea.[10]

Today, Maersk Oil is engaged in exploration for and production of oil and gas in many parts of the world.[11] Total oil production is more than 600,000 barrels per day (95,000 m³/d) and gas production is up to some 1 billion cubic feet (28,000,000 m³) per day. Most of this production is from the North Sea, from both the Danish and British sectors, but there is also production in offshore Qatar, in Algeria and in Kazakhstan.

In addition to the above-mentioned producing sites, Maersk Oil is involved in exploration activities in Danish, British, Dutch and Norwegian sectors of the North Sea, Qatar, Algeria, Kazakhstan, Angola, Gulf of Mexico (US sector), Turkmenistan, Oman, Morocco, Brazil, Colombia and Suriname. Most of these activities are not 100% owned, but are via membership in a consortium.

The company prides itself for having developed production techniques especially suited to difficult environments (North Sea, etc.) and for drilling techniques that succeed in extracting oil from problematic underground conditions.

"Oil and gas activities" provided A.P. Moller – Maersk with 22% of its revenue and 68% of its profit in 2008.[9]

Retail activity

Main article: Dansk Supermarked Gruppen

Dansk Supermarked Group: Commercial retail and supermarkets: Bilka (hypermarkets), Føtex (quality supermarkets), F. Salling (department stores) and Netto (discount supermarket).[9]

Other activities

Maersk Training

Maersk Training provides specialist training to specific industries. The 2010 merger of Maersk Training Centre and Svitzer Safety Services broadened a portfolio of courses to include the maritime, oil & gas, terminals and wind power industries.

With centres in Svendborg and Esbjerg in Denmark, the MT Group global locations include Aberdeen and Newcastle in the UK, Esbjerg in Denmark and Stavanger in Norway.[30] Centres are also in Chennai, India and Singapore. Bahrain is the Middle Eastern hub and a new Brazilian centre in Rio de Janeiro opened in 2013.

Star Air

Star Air operates 11 leased Boeing 767 cargo aircraft, primarily engaged in long-term contract flying for United Parcel Service (UPS) in Europe.[9] The Maersk corporate aircraft, a Canadair Challenger 604, is also operated by Star Air.

Danske Bank

Main article: Danske Bank

A.P. Moller – Maersk owns a 20% stake in Danske Bank, one of the biggest banks in Scandinavia.[9]

Maersk Global service center is an official shared Service center for the AP Moller Maersk Group.

European Rail Shuttle B.V.

Main article: European Rail Shuttle B.V.

ERS Railways B.V. is a railway transport company headquartered in Rotterdam, providing cargo transport, mostly ISO shipping containers.

Entry level programmes in A.P. Moller – Maersk

  • Maersk Line Graduate Programme (MLGP)[31]
  • Damco International Graduate Programme (DIGP)[32]
  • Finance Programme (MIFP)
  • Technology & Science (MITAS)[2]

Maersk Education

Maersk International Shipping Education (M.I.S.E.) was the two-year management trainee program constituted to develop the future leaders of the A.P. Moller – Maersk Group.

Each year approximately 450 trainees were enrolled representing more than 80 countries into the M.I.S.E. Programme. Trainees were selected from more than 85,000 applications received each year and underwent an intensive education. The program combined practical and theoretical education across all major divisions of the group with extensive multicultural exposure and international job opportunities within Maersk upon completion.

Starting 2009, the M.I.S.E programme has been discontinued and Maersk will begin to operate business specific entry level programmes. In autumn 2009, Maersk Line launched a new graduate programme called the Maersk Line Graduate Programme (M.L.G.P) with 42 participants from 65,000 applicants. [33]

Piracy

Maersk Alabama as seen from a P-3C Orion Aircraft during its 2009 hijacking.
Main article: Maersk Alabama hijacking

On the morning of April 8, 2009 the 17,000-ton MV Maersk Alabama was en route to Mombasa, Kenya, when it was hijacked by pirates off the Somali coast. The company confirmed that the U.S.-flagged vessel had 20 U.S. nationals on board. This was the first time that the US had to deal with a situation in which Americans were aboard a ship seized by pirates in over 200 years. By noon, the Americans were able to resist the pirates and regain control of the ship. However, the pirates retreated on a covered life boat and held the captain hostage for four days. On April 12, 2009, it was confirmed that the captain held hostage was freed by the US Navy, whose SEAL sharpshooters killed three of the pirates. A fourth pirate surrendered earlier due to a medical injury. These events were subsequently dramatized in the 2013 film Captain Phillips which starred Tom Hanks in the title role.

Maersk Line estimates that piracy costs the company $100 million per year due to longer routes and higher speed, particularly near East Africa.[34]

As of 2010, all 83 Maersk tankers were diverting around the Cape of Good Hope south of Africa instead of going through the Suez Canal,[35] although the Mærsk Mc-Kinney møller, the first of the Triple E Class vessels, successfully navigated the Suez during her maiden voyage.

Controversy

Labor practices

Trade unions and labor rights organizations have criticized Maersk's labor practices in different parts of the world.

In El Salvador, Maersk has been accused of maintaining abusive conditions for port drivers. Charges include excessively long shifts, minimal wages and the repression of freedom of association by running union-busting campaigns, including firing and blacklisting at least 100 drivers in 2001.[36][37]

Globalization Monitor, a labor rights group based in Hong Kong, has reported poor labor conditions in Maersk facilities in Dongguan and Qingdao, China. In January and May 2008, respectively, two riots reportedly broke out amongst workers at the Maersk plant in Dongguan in protest of poor working conditions and employment terms. In April 2011, Globalization Monitor stated, "Maersk's plants in China are still far from satisfactory as long as labor and human rights are concerned."[38] This although Danish news articles already in November 2009 brought results from a report made by an external work environment consultant Crecea which stated that the environment on the Maersk factory in Dongguan was above average in China.[39]

Overcharging allegations

In response to a complaint from whistleblower Jerry H. Brown II, the US Government filed suit against Maersk for overcharging for shipments to US forces fighting in Iraq and Afghanistan. In a settlement announced on 3 January 2012, the company agreed to pay $31.9 million in fines and interest, but made no admission of wrongdoing. Brown was entitled to $3.6 million of the settlement.[40]

Business with Iran

In August 2010, the U.S. government fined Maersk $3.1 million for violating its embargo on Iran and Sudan. According to U.S. authorities, Maersk Line illegally used ships registered in the U.S. to carry 4,714 shipments of commercial cargo to Sudan and Iran between January 2003 and October 2007. Maersk could have been fined more than 60 million dollars.[41]

Following the U.S. blacklisting of Tidewater Middle East Co., a major Iranian port operator with suspected ties to the Islamic Revolutionary Guard Corps (IRGC), Maersk suspended operations at several Iranian ports in June 2011 in order to comply with U.S. sanctions.[42] In July 2010, the advocacy group United Against Nuclear Iran originally highlighted Maersk's ties to Tidewater and called on Maersk to cease its business in Iran.[43][44]

On following days, after announced ceasing operations with this country, the stock exchange price went down more than by 40% to low point some months later.[45]

See also

Notes

  1. ^ a b c d e f g "Group Annual Report 2013" (PDF). A.P. Møller - Mærsk. Retrieved 4 November 2014.
  2. ^ a b c d e f "A.P. Moller - Maersk website". Maersk.com. Archived from the original on 2007-10-24. Retrieved 2007-12-04.
  3. ^ "Container shipping". Economist.com. 2005-05-11. Retrieved 2007-12-04. {{cite news}}: Cite has empty unknown parameter: |coauthors= (help)
  4. ^ a b c "Volume 2011 Issue 8" (PDF). Alphaliner Weekly Newsletter. Retrieved 27 February 2011.
  5. ^ "Contact Us." Maersk. Retrieved on 22 September 2011. "Headquarters A.P. Møller - Mærsk A/S Esplanaden 50 1098 Copenhagen K Denmark "
  6. ^ "Fortune Global 2000". Fortune. 2014. Retrieved 2014-11-04.
  7. ^ Ellemose, Søren (2008). "Chapter 1: Hr. Møller". Hr. Møller - årets gang i A.P Møller-Mærsk. documentas. pp. 22–23. ISBN 978-87-7063-054-2.
  8. ^ http://www.tradewindsnews.com/liner/337883/maersk-profit-tops-a-billion
  9. ^ a b c d e f g h i j k l "Annual Report 2008" (PDF). shareholders.maersk.com. Retrieved 2009-07-20.
  10. ^ "Company Facts and Information". A. P. Moller - Maersk Group A/S. Retrieved 10 January 2013.
  11. ^ "Maersk Line - About Us". A. P. Møller – Mærsk A/S. Retrieved 10 January 2013.
  12. ^ "Maersk Line". maerskline.com. Retrieved 2009-07-20.
  13. ^ "Third Triple-E, the MARY MAERSK Delivered" Shipbuilding Tribune, 20 September 2013. Accessed: 22 September 2013.
  14. ^ "Maersk orders up to 30 of biggest container ships on trade". BusinessWeek. 21 February 2011. Retrieved 21 February 2011.
  15. ^ "Official website of Mærsk Triple-E". Maersk. 2013. Retrieved 1 June 2013.
  16. ^ Mærsk line official site
  17. ^ Maersk and the Navy Join Hands for Biofuels Testing Oil Algae, 13 December 2011. Accessed: 13 December 2011.
  18. ^ Geiver, Luke. [1] BioRefining Magazine, 21 November 2011. Accessed: 13 December 2011.
  19. ^ Bloomberg: "Danske Bank Names Chairman Kolding CEO"
  20. ^ Announcement December 19, 2011: "Søren Skou will take up the position as CEO of Maersk Line"
  21. ^ "Top shipping line Maersk says halts Iran service"
  22. ^ "Seago Line". Seago Line A/S. Retrieved 10 January 2013.
  23. ^ A.P. Møller – Mærsk A/S annual report 2008
  24. ^ a b "Maersk Tanker's". Maersk. Retrieved 2009-07-24. Cite error: The named reference "MT" was defined multiple times with different content (see the help page).
  25. ^ "Maersk Line, Limited". MaerskLineLimited.com. Archived from the original on 2007-10-30. Retrieved 2007-12-25.
  26. ^ VLCC Turning to Super-slow Steaming Eship Trading, 23 February 2011. Accessed: 27 February 2011.
  27. ^ Mazerov, Katie (4 May 2011). "Tide is turning on offshore drilling: Drilling contractors prepare for anticipated rise in activity, dayrates with newbuild orders". Drilling Contractor. Retrieved 23 November 2012.
  28. ^ Chua Baizhen (18 March 2012). "Maersk Drilling to Spend Much as $6 Billion on Oil Rigs". Bloomberg Businessweek. Bloomberg. Retrieved 24 October 2012.
  29. ^ "Arctic a sea of opportunity for Maersk Drilling". The Copenhagen Post. 25 September 2012. Retrieved 24 October 2012.
  30. ^ Maritime Training Programs for Seagoing Officers
  31. ^ Maersk Career Opportunities
  32. ^ [2]
  33. ^ [3]
  34. ^ Pirates cost Maersk 100 million Børsen, 22 February 2011. Accessed: 24 February 2011.
  35. ^ Bowden, Anna et al. The Economic Cost of Maritime Piracy page 11. One Earth Future, December 2010. Accessed: 26 February 2011.
  36. ^ "Maersk Drivers Face Repression and Abuse in El Salvador". Institute for Global Labour & Human Rights. 1 November 2004. Retrieved 1 July 2011.
  37. ^ David Bacon (4 January 2005). "Who Murdered Gilberto Soto?". The American Prospect. Retrieved 1 July 2011.
  38. ^ "A Follow Up Investigation on Maersk Qingdao and Dongguan" (PDF). Globalization Monitor. 15 April 2011. Retrieved 1 July 2011.
  39. ^ "Mærsk rydder op i arbejdsmiljøet i Kina". Politiken. 18 November 2009.
  40. ^ Egelko, Bob, "$31.9 Million Settlement In Shipping Suit", San Francisco Chronicle, 4 January 2012, P. D1.
  41. ^ "Danish Maersk pays US for breaching Iran, Sudan embargoes". AFP. 2 August 2010. Retrieved 1 July 2011.
  42. ^ Fabi, Randy (30 June 2011). "World's top shipper suspends some Iran ops over sanctions". Reuters. Retrieved 1 July 2011.
  43. ^ "Firms Contracting With U.S. Government Flout Iran Sanctions Law, Watchdog Says". Fox News. 30 July 2010. Retrieved 1 July 2011.
  44. ^ "Shipping Firm Maersk Suspends Business With Iranian Ports in Wake of Sanctions". Fox News. 1 July 2010. Retrieved 1 July 2011.
  45. ^ "AP Moeller Maersk A/S (MAERSKb.CO)". Reuters.

References

Wikimedia Commons has media related to Maersk.
  • Peter Suppli Benson, Bjørn Lamnek and Stig Ørskov: Mærsk · manden og magten, Politiken Bøger, 2004 ("Maersk · The Man and Power", in Danish).
  • Lotte Folke Kaarsholm, Cavling Prize recipient Charlotte Aagaard (Information) and Osama Al-Habahbeh (Al-Jazeera in Denmark): Iraqi Port Weathers Danish Storm, CorpWatch, 31/1/2006.
  • Christian Jensen, Tomas Kristiansen and Karl Erik Nielsen: Krigens købmænd, Gyldendal, 2000 ("The Merchants of War", in Danish)

55°41′14.81″N 12°35′53.28″E / 55.6874472°N 12.5981333°E / 55.6874472; 12.5981333

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