Latest news with #A.P.Moller-Maersk
Yahoo
27-05-2025
- Business
- Yahoo
Maersk more than halfway through $1B stock buyback
A.P. Moller-Maersk, parent of shipping line Maersk, said it has bought back almost $600 million of a total planned $1 billion worth of its own shares in the first phase of a purchase program. Copenhagen, Denmark-based Maersk (OTC: AMKBY) in February announced it planned to buy back a total of $2 billion worth of shares in two phases over 12 months. The first phase of the buyback program began Feb. 7 and will run to August of this year. The shares to be acquired will be limited to a total market value of around $1 billion. The company said that through May 23, it had acquired 58,951 A shares and 333,853 B shares, including 2,090 shares from the Moller family, for a total of $599.7 now owns 58,951 A shares and 440,918 B shares, or 3.16% of the company's share capital. Maersk earlier this month revised full-year global container volume growth from 4% to 4% growth to 1% contraction, on the effects of U.S. tariffs with trading partner countries, including China. Buybacks increase earnings per share because there are fewer shares and also increase earnings as a percentage of assets and earnings as a percentage of equity, ratios that Wall Street tracks. It's also tax-efficient for U.S.-based investors because increased share value monetized as capital gains is taxed at lower rates than distributing the excess cash to investors as dividends. According to public information, Maersk stock is 0.02% owned by institutional investors, 0.01% by company insiders, and 99.97% by public companies and individual Mc-Kinney Moller, a fourth-generation descendant of the Maersk family which controls the shipping giant, is chair of both the A.P. Moller Foundation and its investment company, A.P. Moller Holding, where her son, Robert Maersk Uggla, is the chief executive. Find more articles by Stuart Chirls China-US container rates up by double digits Savannah sees record containers amid tariff frenzy Zim profit up on higher container volume, rates No container tsunami heading to Los Angeles, says port chiefThe post Maersk more than halfway through $1B stock buyback appeared first on FreightWaves. Sign in to access your portfolio
Straits Times
21-05-2025
- Business
- Straits Times
China-US trade soars as exporters race to hit tariff truce window
In the week beginning May 12, bookings on freighters headed from China to US more than doubled from prior week. PHOTO: AFP BEIJING - A temporary trade truce between the world's two largest economies has sparked a knee-jerk bounce across China's ports and factory floors. In the week beginning May 12, when the United States and China agreed to sharply reduce tariffs for 90 days, bookings on freighters headed from China to US shores more than doubled from the prior week to about 228,000 TEUs, or twenty-foot equivalent units, data from container-tracking platform Vizion and data provider Dun & Bradstreet shows. Prices for space on ships across the Pacific into the US also rose, with spot rates from Shanghai to Los Angeles jumping about 16 per cent – the biggest increase for the route this year – to US$3,136 per forty-foot equivalent unit for the week ending May 15, according to the Drewry World Container Index. The global composite index also rose the most this year. And the demand wasn't just by sea: The number of international air cargo flights rose almost 18 per cent, according to data released by China's Ministry of Transport. The surge is likely a wave of front-loading as the trade truce opens a window to avoid steep US tariffs, said Jayendu Krishna, a director at Drewry Maritime Services. It's also an important buying season for the holidays – it takes about a month for items to arrive stateside and retailers are rapidly running through inventory they've had on hand awaiting some trade certainty. 'The current surge in bookings is likely to lead to supply chain disruptions for the next two to three months, unless there is another tariff shock from Mr Trump,' Mr Krishna said. Bookings on ships are due to be filled by factories like supply-chain manager Chen Lei's, which makes various types of home appliance products from coffee machines and toasters to irons and humidifiers. The Guangdong-based manufacturer where Chen works counts Royal Philips and Walmart among clients, and has received a flurry of requests from the US to resume production on orders that were put on hold in April. 'Machines in the factories are working non-stop now,' said Mr Chen, '90 days is too short. Production, shipping - we can't wait a single minute.' A.P. Moller-Maersk, a major container liner that's also one of the largest on the trans-Pacific route, added capacity again after seeing an increase in bookings when the truce was announced, a spokesman said. Even with the boost in activity from earlier weeks, the overall level of shipments remains in-line with this time in 2024. That shows many retailers are either not ordering to the same extent, waiting for more certainty, or maybe have already stocked up earlier this year. Liners were also bringing unused capacity already on these routes back online, with the share of voided sailings down to 13 per cent as of May 26, compared to 25 per cent a week before, data from HSBC and Flexport show. A flurry of trade figures from across Asia this week show the chaos that Mr Trump's policies have wrought this year. In South Korea, the value of exports fell 2.4 per cent in the first 20 days of May from the prior year, with outbound shipments to the US down about 15 per cent. Japanese exports rose only 2 per cent in April – the weakest growth in seven months, data out on May 21 showed. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
Yahoo
09-05-2025
- Business
- Yahoo
Maersk: US-China trade war will swing world container demand
A.P. Moller-Maersk, the world's second-largest ocean carrier, said global container demand this year hinges on the outcome of U.S.-China trade negotiations. The parent of Maersk ( on Thursday revised its full-year volume outlook from a decline of 1% to a gain of as much as 4%. It previously had forecast an increase of 4%. 'Three months ago when we gave our guidance, the 145% tariffs on China was not what we thought was going to happen,' Maersk Chief Executive Vincent Clerc said in an earnings call. 'We don't know how this is going to play out.' Maersk saw revenue grow 7.8% to $13.3 billion in the first quarter, ending March 31, while pretax earnings increased to $1.3 billion from $177 million a year company said results came on solid profitability in ocean shipping, operational improvements in its logistics unit and higher volumes in its terminals business. Maersk maintained its financial guidance, despite 'increased uncertainty' and more cautious container volume growth outlook. Maersk has no immediate plans to resume regular services to the Red Sea, Clerc said, after conflicting statements regarding a ceasefire between Yemen's Houthi rebels and the United States. Trade between the United States and China, particularly in containerized consumer goods that have fueled recent record import flows through U.S. ports, is at a standstill amid a war of reciprocal comments came on the same day that President Donald Trump said the U.S. is open to reducing China tariffs from 145% to 80% — still a high levy, but one that is likely to help restore some normalcy between the trading partners. Find more articles by Stuart Chirls expects no changes from US port fees US container imports see one of strongest Aprils ever Houthis deny Trump's claim of Red Sea ceasefire West Coast politicians, port executives protest 'reckless' tariffsThe post Maersk: US-China trade war will swing world container demand appeared first on FreightWaves. Sign in to access your portfolio
