Maersk Frankfurt heads for open water as container fire subsides
Maersk Frankfurt, the newbuild box ship that suffered a possible electrical fault and subsequent container ...
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By Alex Lennane
We don’t normally link to sites that require registration, but today we will make an exception for Drewry. If you’re reading The Loadstar, you are likely to be interested in Drewry’s research, and it’s probably worth signing up – given that it’s free. Anyway, today’s note is about AP Møller Maersk and where it is likely to spend the $4bn it plans to make from selling non-core or non-performing assets. Thorough, interesting analysis that could see “cash-strapped adversaries … quaking in their boots”.
Comment on this article
Lou Roll
January 27, 2014 at 4:35 pmDrewry says: “…APM Terminals and Maersk Line are also likely to be big recipients of the cash generated by its recent sale of non-core assets…”.
Maybe, maybe not. Indeed, Maersk Line’s fleet needs can be partly covered by chartering (container lines still have a much higher asset ownership versus leased/chartered ratio than airlines), instead of capital expenditures, whereas the Oil & Gas activities have much higher capital requirements. So, now that the AP Moller-Maerk group has narrowed its focus to a limited number of activities, one may expect to see higher capital expenditures for the oil and gas exploration and production activities, typically in emerging and energy rich countries, whether off or on-shore.