shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » Going Bankrupt? US$704 Million Bank Loan Hunts Maersk Group

Going Bankrupt? US$704 Million Bank Loan Hunts Maersk Group

by Joshua
December 21, 2009
in Uncategorized

AP Moller-Maersk has again gone  to the markets to raise money to repay money owing to banks.
The Danish shipping giant raised USD704 million in two bond issues, it has been revealed. The issue will be listed on the Luxembourg Stock Exchange and was placed by Danske Bank, Nordea and Skandinaviska Enskilda Banken.
The money will be used to repay long-term debt to banks and for general corporate purposes, with the banking facilities thus remaining open as liquidity buffers, said AP Moller-Maersk.
In September the Danish company raised USD1.6 billion from a share sale to institutional investors in the UK, Scandinavia and the US and this was followed by a USD1.15-bn issue the following month. At that time AP Moller-Maersk spoke of using the money raised to fund acquisitions.
Chief executive Nils Andersen recently stated that AP Moller-Maersk would move away from buying containerships into oil and gas, container terminals and retailing.
Maersk, which operates the world’s biggest fleet of container ships, is bracing for its first annual loss in a corporate history spanning 105 years. This has been brought about by losses at both the container shipping division and the tanker business.
The group’s new investment strategy was revealed by chief executive Nils Andersen. The non-core businesses that will receive preferential treatment are oil and gas, container terminals and, quite surprisingly, retailing.

 


Related Posts

ONE To Acquire Three U.S. West Coast Container Terminals

ONE To Acquire Three U.S. West Coast Container Terminals

December 29, 2022
Shippers’ Council Collaborates With Institute On Training

Shippers’ Council Collaborates With Institute On Training

September 23, 2022
Dala Dry Port Has Potential To Service Cargo Needs Of Nigeria, Niger Republic –FG

Dala Dry Port Has Potential To Service Cargo Needs Of Nigeria, Niger Republic –FG

August 6, 2022
VESSELS EXPECTED AT LAGOS PORT AS AT TUESDAY 10, MAY 2022

VESSELS EXPECTED AT LAGOS PORT AS AT TUESDAY 10, MAY 2022

May 10, 2022

Discussion about this post

Latest News

FG To Establish Free Trade Zone In Ekiti -NEPZA Boss

January 27, 2023

ANLCA, Congratulates Newly Promoted Customs Officers, Charges Them To Add Value

NRC, Police Reiterate Commitment To Secure Nigeria’s Railways

Transportation Ministry Inaugurates Committee For Ondo, Benin Sea Ports

UK Cuts Tariffs On Nigerian Exports

Nigeria To Net $500m Revenues From Cashew Exports In 2023 — Minister

Lekki Port: Ensure Only Genuine Trade Partners Operate, Shipper Urges Govt.

Reps Urge Security Agencies To Arrest Oil Marketers Responsible For Fuel Scarcity

8 School Children Killed After Boat Capsizes In Ghana

Freighter Sinks Off South Korea, Several Crew Members Still Missing

CVFF: NIMASA Issues Lending Institutions Ultimatum On Procedures For Disbursement 

Lekki Deep Seaport, One Of Major Legacies Of PMB’s Administration – Sambo

kindly like our Facebook page

Health

Unhealthy Environment Causes 12.6m Deaths Worldwide, WHO Says
Health

Unhealthy Environment Causes 12.6m Deaths Worldwide, WHO Says

December 19, 2022

The World Health Organisation has said that the number of people estimated to have died as a result of living...

Health Benefits And Side Effects Of Bitter Leaf

Health Benefits And Side Effects Of Bitter Leaf

December 12, 2022
More Women May Die During Childbirth In West Africa — Report

More Women May Die During Childbirth In West Africa — Report

December 12, 2022
The Many Wonderful Uses Of Onions

The Many Wonderful Uses Of Onions

December 5, 2022
Nigeria Yet To Achieve 70% COVID-19 Immunisation Coverage, Says NPHCDA

Nigeria Yet To Achieve 70% COVID-19 Immunisation Coverage, Says NPHCDA

December 5, 2022
COVID-19 Cases Increasing, Continue With Preventive Measures — UITH-ARD Warns

COVID-19 Cases Increasing, Continue With Preventive Measures — UITH-ARD Warns

December 5, 2022
Panic As Monkeypox Spreads To 32 States, Cases Now 604

Panic As Monkeypox Spreads To 32 States, Cases Now 604

November 28, 2022
Over 1bn Youths Risk Hearing Loss From Headphones, Loud Music — Study

Over 1bn Youths Risk Hearing Loss From Headphones, Loud Music — Study

November 28, 2022
Consuming Undercooked Meat May Lead To Tuberculosis — Epidemiologist

Consuming Undercooked Meat May Lead To Tuberculosis — Epidemiologist

November 28, 2022
Infertility Red Flags Men, Women Should Not Ignore – Experts

Infertility Red Flags Men, Women Should Not Ignore – Experts

November 28, 2022

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition