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Free Malaysia Today
10 hours ago
- Business
- Free Malaysia Today
Shipping on high alert in Mideast after US strikes on Iran
Tanker earnings have already soared by nearly 90% since Israel began conducting airstrikes on Iran on June 13. (EPA Images pic) ATHENS : The shipping industry was placed on high alert on Sunday with warnings that Tehran could retaliate against commercial vessels following US airstrikes against Iran's nuclear facilities. Greece, home to more oil-tanker capacity than any other nation, cautioned its ship owners to think again if they're considering entering the Persian Gulf in the wake of US airstrikes. Vessels planning to sail through the Strait of Hormuz, the waterway that sits at the mouth of the region, should 'reassess passage' until the situation normalises, according to a circular seen by Bloomberg that its shipping ministry sent to vessel owners. It advised waiting in nearby safe ports. Naval forces in the area warned that ships, especially US-linked ones, could be at heightened risk. Shipping giant AP Moller – Maersk A/S said it continues to transit Hormuz but is ready to re-evaluate its position based on the information available. The actions of the maritime industry – and its risk tolerance – will be a critical detail in the wake of the strikes because of Iran's proximity to the Strait of Hormuz, a conduit for a fifth of the world's oil and an unavoidable searoute into the Persian Gulf. Athens' warning is the latest sign of pressure on shipping markets as attacks on Iran escalate. Tanker earnings already soared by almost 90% since Israel first started conducting airstrikes on June 13. As one of the world's largest shipowning nations, advice to Greece's vessel owners would have a major impact on commodity transportation markets, especially oil. There's every chance shipowners will ignore the advice because the Persian Gulf is too-important a region for them to avoid and rates can always rise to compensate for the risk of sailing in the region. Operators that do decide to transit Hormuz should adopt the highest security level available and maintain the maximum possible distance from Iranian waters, Greece's ministry added. In Sunday's notice, the Greek ministry cited concern around a possible closure of Hormuz as a reason behind its message. Officials at three Greek tanker companies said they were still assessing the situation. One did indicate he might still allow his tankers to enter the region, while another said their ships would likely stay away. Greek government spokesman Pavlos Marinakis said in a statement that the government, via the shipping ministry, advised Greek-flagged and Greek-owned ships in the area of the Strait of Hormuz to go to safe port until the situation normalises. Bigger risk Naval groups are also warning of greater risk. On Sunday, the joint maritime information centre, a liaison between navies and merchant shipping in the region, said that the Washington's airstrikes mean US-linked ships sailing through the Red Sea and Gulf of Aden face a high risk of attack. Yemen's Houthi rebel group issued fresh threats against American commercial and naval ships earlier in the day. There had been a ceasefire between the US and the Houthis in early May, geared toward limiting the group's attacks on the US navy. US-linked ships should consider re-routing, the JMIC said in its update. Still, it said some US-associated vessels have successfully transited the Strait of Hormuz, 'which is a positive sign for the immediate future.' Separately, the EU's naval force in the region raised its threat assessment for US-linked vessels as a result of the strikes. It now sees a severe threat to ships linked to the US and Israel and a low risk for all other ships. 'This does not exclude the possibility of all merchant vessels being targeted in the future,' it said in an update published by France's MICA Center, which helps co-ordinate global maritime security.
Yahoo
16-05-2025
- Business
- Yahoo
Major Shareholder Announcement
Pursuant to Section 30 of the Danish Capital Markets Act, Svitzer Group A/S, CVR-no. 44 79 14 47, ('Svitzer') hereby announces the receipt of the following major shareholder notifications following the announcement of the final result and completion of APMH Invest A/S' all-cash voluntary recommended purchase offer to acquire all issued shares of Svitzer, excluding Svitzer treasury shares, if any, and shares held by APMH Invest A/S, on the terms set out in the offer document published by APMH Invest A/S on 2 April 2025. On 16 May 2025, APMH Invest A/S has (on behalf of itself and its ultimate owner A.P. Møller og Hustru Chastine Mc-Kinney Møllers Fond til almene Formaal) notified Svitzer that APMH Invest A/S holds a total of 29,462,147 shares and voting rights in Svitzer corresponding to 93.4% of the total share capital and 93.4% of the voting rights in Svitzer. APMH Invest A/S is indirectly wholly owned by A.P. Møller og Hustru Chastine Mc-Kinney Møllers Fond til almene Formaal through A.P. Møller Holding A/S. On 16 May 2025, A.P. Møller og Hustru Chastine McKinney Møllers Familiefond has notified Svitzer that A.P. Møller og Hustru Chastine McKinney Møllers Familiefond no longer holds any shares and voting rights in Svitzer. About Svitzer Svitzer is a leading, global towage and marine services provider. The core business is to assist large seaborne vessels in manoeuvring in and out of ports and terminals to berth and unberth. With around 450 vessels, Svitzer's services play a crucial role as part of critical port infrastructure. Svitzer was founded in 1833 and serves approximately 2,000 customers in more than 140 ports and 40 terminals across 37 countries. Read more on For further information, please contact: Michael Nass Nielsen, Head of Investor Relations and FP&A T: +45 24941654 E: ir@ Attachment Svitzer Group - Major Shareholder announcementError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-05-2025
- Business
- Yahoo
Transactions in connection with share buy-back program
AnnouncementA.P. Møller - Mærsk A/S – Transactions in connection with share buy-back programOn 5 February 2025, A.P. Møller - Mærsk A/S (the 'Company') announced a share buy-back program of up to DKK 14.4bn (around USD 2bn) to be executed over a period of 12 months. The first phase of the share buy-back program will run from 7 February up to 6 August 2025. The shares to be acquired will be limited to a total market value of DKK 7.2bn (around USD 1bn). The share buy-back program will be executed under EU Commission Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052 (the 'Safe Harbour Regulation'). The following transactions have been made under the program in the period Monday 5 May to Friday 9 May, 2025: Number of A shares Average purchase price A shares, DKK Transaction value, A shares, DKK Accumulated, last announcement 48,846 558,555,020 5 May 2025 680 11,760.1765 7,996,920 6 May 2025 650 11,581.7077 7,528,110 7 May 2025 1,000 11,118.8500 11,118,850 8 May 2025 700 11,271.2286 7,889,860 9 May 2025 700 11,327.5286 7,929,270 Total 5 – 9 May 2025 3,730 42,463,010 Accumulated under the program 52,576 601,018,030 Number of B shares Average purchase price B shares, DKK Transaction value, B shares, DKK Accumulated, last announcement (market and the Foundation) 276,576 3,212,943,608 5 May 2025 3,410 11,860.0528 40,442,780 6 May 2025 3,260 11,671.3804 38,048,700 7 May 2025 5,011 11,262.6981 56,437,380 8 May 2025 3,508 11,404.9872 40,008,695 9 May 2025 3,508 11,459.1975 40,198,865 Total 5 – 9 May 2025 18,697 215,136,420 Bought from the Foundation* 2,446 11,506.5376 28,144,991 Accumulated under the program (market and the Foundation) 297,719 3,456,225,019 *) According to a separate agreement, A.P. Møller og Hustru Chastine Mc-Kinney Møllers Familiefond (the Foundation) participates on a pro rata basis to the shares purchased in the share buy-back program. With the transactions stated above, the Company owns a total of 52,576 A shares and 405,215 B shares as treasury shares, corresponding to 2.89% of the share capital. Details of each transaction are included as appendix. Copenhagen, 12 May, 2025 Contact persons: Head of Investor Relations, Stefan Gruber, tel. +45 3363 3484 Head of Media Relations, Jesper Lov, tel. +45 6114 1521 Page 1 of 1Attachments Announcement - Transactions in connection with share buy-back program - week 19 2025 Daily transactions in connection with share buy-back program - week 19 2025Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Free Malaysia Today
08-05-2025
- Business
- Free Malaysia Today
Maersk warns global container volumes could drop due to trade war
Maersk said the demand outlook remains highly uncertain for the rest of the year. (EPA Images pic) COPENHAGEN : Shipping group A.P. Moller-Maersk warned on Thursday that a global trade war and geopolitical uncertainty could trigger a drop in global container volumes this year, although it left its profit outlook unchanged. Trade tariffs imposed by US President Donald Trump have prompted companies worldwide to cut sales targets and major economies to revise down growth prospects, impacting demand for shipping goods at sea. Maersk, viewed as a barometer of world trade, said it now expects global container volumes within a range of down 1% to up 4% this year, compared with the 4% growth estimated at the beginning of the year. 'The outlook for global container demand over the remainder of the year remains highly uncertain, shaped by a rapidly evolving trade policy landscape and increasing recession risks in the US,' Maersk said. Many companies rushed to ship goods to the US at the beginning of the year in anticipation of potential tariffs. But, most economists are calling the Trump tariff gambit a demand shock to the world economy which will sap global activity. Maersk said it expects market growth in the second quarter if customers take advantage of a 90-day pause in the bulk of planned US tariffs to build inventories. 'In the latter part of the year, there is, on the one hand, a growing risk that demand could contract, and on the other the possibility that trade rebounds if tariffs are rolled back,' the company said. Maersk, whose customers include Walmart, Target, and Nike, said last week that it had yet to cancel a single trans-Pacific crossing this year, although it had downsized some vessels. German rival Hapag-Lloyd said in April that its customers had cancelled 30% of shipments to the US from China. Maersk said that policy uncertainty and the threat of a further escalation in the trade war cast a shadow over the US economic outlook. 'If Chinese exporters redirect lost US exports to other markets, a protectionist backlash could follow, risking a broader trade war,' it warned. Maersk still expects earnings before interest, taxes, depreciation and amortisation (Ebitda) this year of between US$6 billion and US$9 billion. Its Ebitda rose 70% year-on-year to US$2.71 billion in the first three months of the year, compared with the US$2.41 billion expected by analysts in a company poll. Maersk shares opened little changed. Red Sea disruption Maersk also said it expects Red Sea disruption to continue throughout the year, despite comments by Trump on Tuesday that the US would stop bombing the Iran-aligned Houthis in Yemen. Maersk and rivals have benefited from longer sailing times and soaring freight rates as ships are rerouted around Africa as Houthi militants have kept up attacks on Red Sea vessels in what they say is in solidarity with Palestinians in Gaza. Trump said the Houthis had agreed to stop attacking US ships, but the group later said the deal did not include sparing Israel, suggesting its shipping attacks would not come to a complete halt. There have been no reports of Houthi attacks on shipping in the Red Sea area since January.
Observer
19-02-2025
- Business
- Observer
Port of Salalah celebrates milestone expansion of 2 million TEU
Muscat: The APM Terminals operated Port of Salalah has invested USD 300 million in expanding and ensuring readiness for the new network under the Gemini-cooperation. The investment includes an upgrade to all six existing berths and an expansion of the yard, and the expansion moves the terminal from a capacity of 4.5 million TEU's to 6.5 million and cements the Port of Salalah's position as a key hub in the region with ideal access to the Middle East, the Indian Subcontinent and East Africa. As part of the expansion project, APM Terminals has invested in a new access road, a new electrical power substation and electrical network upgrade, and reefer expansion of 2000 reefer plugs. Steven Yoogalingam, Port of Salalah Chief Executive Officer states: 'Our investment underscores our deep commitment to Oman and the region. The new capabilities ensure a smooth and seamless operation from Port of Salalah and provides opportunities for local and regional growth and job creation – also with the close link to the Gemini-cooperation, where we are delighted to welcome the network from A P Moller - Maersk and Hapag-Lloyd as part of the hub-system behind the setup.' Capacity at the port will be lifted by new equipment, among other things, 10 new STS cranes with the capability to handle ultra large vessels 26 containers wide. In addition, 12 hybrid rubber tyred gantry (RTG) cranes, two reach stackers, 6 empty container handlers and 30 terminal trucks and trailers have been added to the fleet of landside equipment. Muhanna bin Moosa bin Baqer, Director General of Ports at Ministry of Transport, Communications, and Information Technology in the Sultanate of Oman states: 'This expansion emphasizes our commitment to advancing the Sultanate of Oman's economic objectives and supporting Oman Vision 2040. In collaboration with Salalah Port Company, strategic planning efforts are continuously underway to optimise the port's strategic location and robust infrastructure. Recently, the company allocated $300 million towards upgrading the container terminal, enhancing the port's capacity from 4.5 million to 6.5 million TEUs. This substantial investment aligns with the port's goal to stay ahead of rising maritime traffic, offering a competitive edge.'' In the 2023 Container Ports Performance Index (CPPI), the Port of Salalah was ranked as the second most efficient container port in the world for the 3rd year in a row. The upgrades, combined with the ongoing implementation of Lean practices is expected to raise levels of efficiency further and offer industry leading port stay times. Port of Salalah part of hub-system as backbone of Gemini-network The Port of Salalah is a central component of the Gemini network, serving as one of the primary hubs supporting the infrastructure. February 18, the first call by a Gemini-vessel will be made in Salalah. Steven Yoogalingam, Port of Salalah Chief Executive Officer states: 'The port call marks the beginning of an exciting new chapter in the network's operation, illustrating the strategic importance of Salalah in this global initiative. The Port of Salalah maintains world-class operations is ever-present, with ongoing efforts to overcome challenges and expand our capabilities.' By integrating into the network, the port plays a central role in facilitating global trade and connectivity. The enhancements planned for the Port of Salalah are specifically aligned with the evolving requirements of the Gemini collaboration, ensuring that it remains at the forefront of global shipping operations.
