The Maersk Drilling business is expected to be sold by the end of the year, A.P. Moller-Maersk said.
The liner shipping unit of Maersk Group reported a 2017 profit of USD541 million, turning around a loss of USD376 million that was posted the previous year but falling USD95 million short of its profit forecast.
The loss came despite a rise in volumes handled at facilities owned and operated by the world’s fourth-largest container terminal operator to 39.7 million teu on an equity-weighted basis.
Hong Kong’s CLP Holdings has announced plans to invest in a USD3.15 million LNG export terminal in Saguenay.
Jakarta issued new shipping rules for coal and crude palm oil that would restrict exporters to use Indonesian-flagged vessels, raising concerns among shippers that could affect export volumes.
Singapore’s Ezion restructuring is on track, having secured a six-year, USD1.5 billion refinancing package while CEO Chew Thiam Keng and his family offer 100 million personal shares.
South Korea’s shipbuilders suffer full-year losses for 2017
Even a costly cyber attack was not enough to drag Maersk Line into a loss or dampen Skou’s confidence that his carrier would achieve the bold 2017 profit target set earlier in the year.
The Philippines-based port operator said strong demand in Iraq had paved the way for expansion.
Bourbon warned that the offshore market recovery could be slow and the impact on vessel hire rates could be held back by continued vessel overcapacity.