TradeLens Blockchain-Enabled Digital Shipping Platform Continues Expansion With Addition of Major Ocean Carriers Hapag-Lloyd and Ocean Network Express

Rapid adoption of TradeLens across the global shipping supply chain continues as Hapag-Lloyd and Singapore-based Ocean Network Express (ONE) Pte. Ltd announced they will join the blockchain-enabled digital shipping platform, jointly developed by A.P. Moller - Maersk (MAERSKb.CO) and IBM (NYSE: IBM).



Hapag-Lloyd and ONE, the world’s fifth and sixth largest carriers respectively, join CMA CGM and MSC Mediterranean Shipping Company, both of which recently announced they are joining TradeLens. With these additions, the scope of the platform now extends to more than half of the world’s ocean container cargo.



“Expanding digital collaboration is critical to the evolution of the container shipping industry,” said Martin Gnass, Managing Director Information Technology at Hapag-Lloyd. “TradeLens has made significant progress in launching a much-needed transformation in the industry, including its partnership model. Now, with five of the world’s six largest carriers committed to the platform, not to mention many other ecosystem participants, we can collectively accelerate that transformation to provide greater trust, transparency and collaboration across supply chains and help promote global trade.”



The addition of these two global carriers will help drive further adoption of TradeLens around the world now that TradeLens customers have access to major carriers in all three leading global vessel sharing alliances on the platform. With an already significant presence in Asia, ONE is further strengthening and expanding its coverage through joint cooperation with TradeLens to help meet the challenging demands of the crucial Asia market.



“We believe this innovative approach based on open standards and open governance can benefit the entire industry while ultimately benefitting our customers who rely on the world’s shipping industry to transport global container volume of more than 120 million TEU across international borders each year,” said Noriaki Yamaga, Managing Director, Corporate & Innovation, Ocean Network Express. “The opportunities to drive greater innovation across the shipping supply chain are enormous and we are excited about the opportunity to provide our leadership and insight to help the platform continue to evolve.”



TradeLens was launched to help modernize the world’s supply chain ecosystems. Many of the processes for transporting and trading goods are costly, in part, due to manual and paper-based systems. Replacing these peer-to-peer and often unreliable information exchanges, the platform enables participants to digitally connect, share information and collaborate across the shipping supply chain ecosystem.



“The addition of more leading carriers to TradeLens will help global supply chain customers expand and explore the benefits of digitization and deliver new opportunities to the increasing number of TradeLens ecosystem participants across the global supply chain. As a neutral industry platform, TradeLens offers supply chain visibility, ease of documentation and the potential of introducing new products on top of the platform. These attributes bring new opportunities for the Maersk transformation towards becoming an end-to-end container logistics company improving the experience and services we offer the customers,” said Vincent Clerc, Chief Commercial Officer, A.P. Moller - Maersk.



Members of TradeLens gain a comprehensive view of their data and can collaborate as cargo moves around the world, helping create a transparent, secured, immutable record of transactions.



The attributes of blockchain technology are ideally suited for large networks of disparate partners. Blockchain establishes a shared, immutable record of all the transactions that take place within a network and enables permissioned parties access to secured data in real time.



“Blockchain for the enterprise is solving previously unsolvable problems,” said Bridget van Kralingen, Senior Vice President, Global Industries, Clients, Platforms & Blockchain, IBM. “Through improved trust, simplicity and improved insight into provenance, blockchain solutions such as TradeLens are delivering proven value across business processes for our clients and their ecosystems. Massive new efficiencies in global trade are now possible and we’re seeing similar effects across the food industry, mining, trade finance, banking and other industries where the value of blockchain is more apparent than ever before."

Hapag-Lloyd and ONE will each operate a blockchain node, participate in consensus to validate transactions, host data, and assume a critical role of acting as Trust Anchors, or validators, for the network. Both companies will be represented on the TradeLens Advisory Board, which will include members across the supply chain to advise on standards for neutrality and openness.

About Hapag-Lloyd

With a fleet of 235 modern container ships and a total transport capacity of 1.7 million TEU, Hapag-Lloyd is one of the world's leading liner shipping companies. The company has around 12,800 employees and 398 offices in 128 countries. Hapag-Lloyd has a container capacity of approximately 2.6 million TEU ? including one of the largest and most modern fleets of reefer containers. A total of 121 liner services worldwide ensure fast and reliable connections between more than 600 ports on all the continents. Hapag-Lloyd is one of the leading operators in the Transatlantic, Middle East, Latin America and Intra-America trades.



About Ocean Network Express (ONE)

Ocean Network Express (ONE) was incepted on July 7, 2017 following the liner service integrations of Kawasaki Kisen Kaisha (“K” LINE), Mitsui O.S.K. Lines (MOL) and Nippon Yusen Kaisha (NYK). The new entity functions from its global headquarters in Singapore, supported by regional headquarters in Hong Kong, Singapore, the United Kingdom, the United States and Brazil. ONE is the world’s sixth largest container carrier with a fleet size of approximately 1.55 million TEU. Operating more than 210 vessels, it offers an expeditious and a reliable international network of over 120 services to 120 countries and beyond. ONE is a member of THE Alliance (THEA), a global ocean carrier consortium.

For more information, please visit www.one-line.com.

About TradeLens

The TradeLens platform has been jointly developed by Maersk and IBM. TradeLens is an open and neutral industry platform underpinned by blockchain technology and supported by major players across the global shipping industry. The platform promotes the efficient, transparent and secure exchange of information in order to foster greater collaboration and trust across the global supply chain.

www.tradelens.com


Maersk introduces Maersk Spot, a new fully online product that simplifies the buying process for customers

Shipping a container has been a complex process for many years. Manual and inefficient, the buying and booking process has been often full of surprises. With the launch of Maersk Spot, Maersk aims to introduce a truly online product that can break the cycle of overbookings and offer a much simpler way to ship a container with load guarantee.

Maersk has expanded its product offering with Maersk Spot. Fully digitally enabled, the new online product provides customers a cargo loading guarantee at a fixed price upfront. With the launch of the new product, Maersk takes further steps towards simplifying the supply chains of its customers by addressing some of the fundamental inefficiencies that exist across the industry.

“It is not uncommon to see overbookings to the tune of 30%, and often this leads to rolling of the customers’ cargoes since there is overbooking to compensate for the high downfall. This creates a lot of uncertainty for our customers,” says Silvia Ding, Global Head of Ocean Products at Maersk. “With Maersk Spot, we provide full visibility of the price and terms that will ensure cargoes get on board. Ultimately allowing customers to move their cargo in a much simpler and more reliable way.”

With Maersk Spot, customers can search and get competitive rates online 24/7. The all-in price is calculated and fixed when the booking is confirmed, which happens instantly. This dynamic online pricing fixed at booking creates one transaction for the customer from quotation to booking confirmation, profoundly simplifying the buying process.

“Maersk Spot radically simplifies the buying experience for our customers. Today’s offline process can be up to 13 individual steps, often involving a lot of communication and paper work from rate sheets to terms and conditions and surcharges, etc. With Maersk Spot, this cumbersome process is reduced to five simple and integrated steps ? all online,” says Ding.

When a booking is confirmed by the customer, Maersk commits to load and grants certainty in operational execution. This is a mutual commitment between the customer and Maersk which ensures that the vicious cycle of overbookings is addressed. In case of booking cancellations, fees apply at the customer’s charge. If cargo is rolled, Maersk compensates the customer. The mutual commitment paired with increased visibility of sailings and certainty of prices has been to date embraced by more than 3,000 unique customers each week, with already over 50,000 Forty-Foot-Equivalent (FFE) units booked in Q2.

One of the customers already using Maersk Spot is The Ramco Cements Limited. The company sends around 120-200 containers from Kattupalli port to Colombo every week, making their bookings one to two weeks in advance to ensure they can deliver to their customers on time with the best deal possible.

“We are quite proactive about our bookings but there were still cases where our shipments were not loaded due to capacity issues which resulted in the loss of trust with some of our customers,” says Ramakrishnan Vivekanandan, General Marketing Manager of The Ramco Cements Limited. “With Maersk Spot, we no longer have the uncertainty of not knowing if we can actually provide our customers with their shipments.”

Maersk Spot is now available on all trades, except in and out of U.S. Currently available as BETA site, the product will be implemented on maersk.com at the beginning of August.


Maersk to offer customers carbon-neutral transpor

A new carbon neutral product - the first of its kind in the industry - is being piloted with select Maersk customers who are highly engaged in sustainable solutions for their supply chain. H&M Group is the first company to trial it as part of the shift towards carbon-neutral transportation.

The biofuel in the pilot project is the same blend of used cooking oil and heavy which has been tested and successfully validated in a trial driven in collaboration with the Dutch Sustainability Growth Coalition (DSGC), and Shell his year. It is certified as a sustainable fuel by the International Sustainability & Carbon Certification (ISCC) body.

"The biofuel trial on board Mette Maersk has proven that decarbonized solutions for shipping can already be utilized today, both technically and operationally. While it is not yet an absolutely final solution it is certainly part of the solution and it can serve as a transition solution to reduce CO2 emissions today. With the launch of this product, Maersk seeks to help our customers with their goal of moving to sustainable supply chains, "explains Søren Toft, Maersk COO.

The biofuel to be utilized is carbon neutral and provides, H&M Group the ability to reduce their transport and logistics emissions towards their aspiration of carbon neutrality, when accounting for only the emissions from the vessel. The Roundtable on Sustainable Biomaterials (RSB) will provide a procedure to ensure carbon savings are accredited to our customers appropriately. When taking a full lifecycle view including also all emissions from upstream production and transportation, the fuel entails savings of 85% compared to bunker fuel.

The goal of such pilot projects is to unlock the potential of sustainable fuels so they become a commercial reality.

"Our high ambition to become climate positive by 2040 requires cooperation and engagement from all parties in the supply chain. We want to use our size to be a force for good and enable scaling innovative solutions, such as the carbon neutral ocean product, for a greener commercial transport," says Helena Helmersson, COO H&M Group.

We will use the biofuel project learnings to support a broader product offering and will continue to co-develop and facilitate the uptake of solutions that will help bring about more cost-efficient carbon-neutral options for the carbon neutral transportation.

Today the shift away from fossil fuels can be expensive for shippers. Ensuring the wide-scale adoption of carbon-neutral solutions therefore requires technical innovation and supportive global policies.

"We believe this is the only commercially viable path to make the required investments our industry requires to reach the carbon neutral target. We are so pleased to see a significant shift in sentiment and involvement from customers, fuel suppliers, equipment manufacturers, and competitors towards sustainable solutions," emphasizes Toft.

Shipping remains the most carbon-efficient means of global transport today, but accounts for 2-3% of global emissions. This number will continue to grow if left unchecked by industry leaders and policy makers.

Maersk will continue to facilitate, test, and develop low-carbon solutions on our journey to 2050.


Major Ocean Carriers CMA CGM and MSC to Join TradeLens Blockchain-Enabled Shipping Platform

Global container carriers CMA CGM and MSC Mediterranean Shipping Company (MSC) today announced they will join TradeLens (www.tradelens.com), a blockchain-enabled digital shipping platform, jointly developed by A.P. Moller - Maersk (MAERSKb.CO) and IBM (NYSE: IBM).

With CMA CGM, MSC, Maersk, and other carriers committed to the platform, data for nearly half of the world's ocean container cargo will be available on TradeLens. The addition of CMA CGM and MSC will provide a significant boost to the TradeLens vision of greater trust, transparency, and collaboration across supply chains to help promote global trade. The companies will promote TradeLens and create complementary services on top of the platform for their customers and partners.

"Digitization is a cornerstone of the CMA CGM Group's strategy to provide an end-to-end offer tailored to our customers' needs. We believe that TradeLens, with its commitment to open standards and open governance, is a key platform to help usher in this digital transformation," said Rajesh Krishnamurthy, Executive Vice President, IT & Transformations, CMA CGM Group. "TradeLens' network is already showing that participants from across the supply chain ecosystem can derive significant value."

"Digital collaboration is a key to the evolution of the container shipping industry. The TradeLens platform has enormous potential to spur the industry to digitize the supply chain and build collaboration around common standards," said André Simha, Chief Digital & Information Officer, MSC. "We think that the TradeLens Advisory Board, as well as standards bodies such as the Digital Container Shipping Association, will help accelerate that effort."

TradeLens enables participants to connect, share information and collaborate across the shipping supply chain ecosystem. Members gain a comprehensive view of their data and can digitally collaborate as cargo moves around the world, helping create a transparent, secured, immutable record of transactions.

The attributes of blockchain technology are ideally suited to large networks of disparate partners. Blockchain establishes a shared, immutable record of all the transactions that take place within a network and enables permissioned parties access to trusted data in real time.

With more than 100 participants on the platform today, TradeLens is already processing over ten million discrete shipping events and thousands of documents each week, providing shippers, carriers, freight forwarders, customs officials, port authorities, inland transportation providers, and others a common view of transactions, which can build trust. A commitment to data ownership rights and permissioned access to data helps ensure privacy and confidentiality while enabling users to collaborate more efficiently with real-time access to shipping data.

"The major advances IBM continues to make in blockchain illustrate that the technology is fostering new business models and playing an important role in how the world works" said Bridget van Kralingen, Senior Vice President, Global Industries, Clients, Platforms & Blockchain, IBM. "More than a hundred participants have put their trust in the TradeLens network and are gaining greater transparency and simplicity in the movement of goods. Together we are advancing a shared aim to modernize the world's trading ecosystems."


CMA CGM and MSC to Play an Important Role in the TradeLens Network

CMA CGM and MSC will operate a blockchain node, participate in consensus to validate transactions, host data, and assume the critical role of acting as Trust Anchors, or validators, for the network. CMA CGM and MSC will be on the TradeLens Advisory Board which will include members across the supply chain to advise on standards for neutrality and openness.

Supporting the Entire Shipping Supply Chain

"While carrier participation is critical, it is important to note that the TradeLens platform relies on participation from across the entire supply chain ecosystem," said Vincent Clerc, Chief Commercial Officer, A.P. Moller - Maersk. "Increasing ease of doing business for our customers and providing visibility across the container journey is at the center of the Maersk strategy. And TradeLens is all about that in its aim to transform the supply chain industry and provide value to all players, from freight forwarders, to ports and terminal operators and inland transportation providers, to customs and other governmental agencies, and ultimately to the customers themselves."

Beneficial cargo owners like Procter and Gamble will benefit from the addition of more carriers onto the platform. "P&G ships a significant volume of ocean containers every year. Whether filled with our products or the materials used in production, understanding the status of our containers helps us manage an efficient supply chain. We are convinced that the industry will benefit from the transparency and accuracy of blockchain solutions and we are pleased to see MSC, CMA CGM, and Maersk all on the TradeLens platform. We have been testing TradeLens for the P&G business and see potential as the solution scales. We look forward to industry-wide adoption to benefit all network members," said Michelle Eggers, Director Global Logistics Purchases, P&G.


A.P. Møller - Mærsk A/S reports solid uplift in earnings and strong cash flow in Q1

A.P. Moller - Maersk has closed the first quarter of 2019 with a 33% increase in earnings before interest, tax, depreciation and amortization (EBITDA) to USD 1.2bn while revenue grew by 2.5% to USD 9.5bn compared to Q1 2018. Operating cash flow improved significantly to USD 1.5bn and free cash flow was USD 3.5bn, including sale of shares in Total S.A.

"We had a good start to 2019. In Q1, revenue grew by 2.5%, operating earnings improved by 33% and cash flow from operations doubled to USD 1.5bn. With a strong free cash flow of USD 3.5bn after the sale of the remaining shares in Total SA., we have significantly strengthened our balance sheet. Net interest-bearing debt has been reduced by USD 2.4bn since Q4 and by USD 7.1bn since Q1 2018," says Søren Skou, CEO of A.P. Moller - Maersk.

Profitability in Ocean increased. EBITDA grew 42% to USD 927m compared to same period last year, mainly driven by a 3.9% increase in average loaded freight rates and an improvement in total operating cost of 2.8%. Revenue increased to USD 6.9bn despite lower volumes which declined 2.2%, impacted by the frontloading seen on the Pacific trades in Q4 2018 and weak demand on Latin America and Oceania trades.

Looking at terminal profitability, the opening of the Moin terminal, Costa Rica and positive underlying volume growth in gateway terminals had a positive impact on terminal profitability in Q1. Terminals & Towage reported an increase in revenue to USD 991m from USD 911m and in EBITDA to USD 267m from USD 244m compared to same quarter last year.

Logistics & Services reported a decrease in revenue in Q1 2019 by 0.5% to USD 1.4bn driven by lower air freight forwarding revenue. EBITDA increased to USD 51m from USD 45m in Q1 2018.

Progress on transformation

The strategic transformation also progressed. In the first quarter, Maersk delivered combined synergies of USD 130m. Cash return on invested capital (CROIC) improved to a positive 6.7% from a negative 5.9%, driven by higher earnings, strong cash conversion and a reduction in invested capital.

"We made good progress on the transformation, where we have completed the separation of the energy businesses, further integrated our organisation and continued to improve our product portfolio. This resulted in a solid cash return on invested capital and delivery of synergies, getting us closer to our target of USD 1bn by end of 2019. Non-Ocean revenue and gross profit in Logistics & Services grew, but needs to accelerate in the coming quarters," says Søren Skou.

Non-Ocean revenue grew by 3.8% in Q1 when adjusted for the closing of production facilities in Maersk Container Industry. Logistics & Services improved gross profit by 2.2%, positively impacted by growth in intermodal and from warehouse facilities.

The return on invested capital (ROIC) improved in Q1 to a positive 1.3% from negative 0.5%. The long-term target of a ROIC above 7.5% is reaffirmed.

Share buy-back, cash distribution and a new dividend policy

As part of the intention to distribute a material part of the value of shares received in Total S.A in connection with the sale of Maersk Oil, the Board of Directors has decided to exercise the authority to buy back shares with a maximum value of DKK 10bn (USD 1.5bn). The program will run from June 2019 and over a period of up to 15 months. After execution of the program, the Board of Directors will evaluate the capital structure and outlook for A.P. Moller - Maersk with the intention to distribute additional cash to shareholders, subject to maintaining investment-grade rating.

Furthermore, the Board of Directors has decided a new dividend policy with an annual payout ratio of 30-50% of underlying net result. The new dividend policy provides A.P. Moller - Maersk with the flexibility to adjust dividends within a range to accommodate investments needed to balance the company and grow non-Ocean disproportionately. In the medium-term the annual payout ratio should be expected to be at the low to mid-point of the range.

Guidance for 2019

Subject to the current risk of further restrictions on global trade and other external factors impacting freight rates, bunker prices and foreign exchange rates, A.P. Moller - Maersk reiterates its guidance of an EBITDA of around USD 5bn, including effects from IFRS 16.

Furthermore, guidance on CAPEX of around USD 2.2bn and a high cash conversion is maintained with an estimated organic market growth in volumes in Ocean of 1-3% for 2019.

"We reaffirm our guidance for the 2019 results. We are still facing considerable uncertainties from weaker macro numbers as well as the risk from trade tensions and implementation of IMO 2020. In Q1, volumes on trans-Pacific trade between Asia and North America have shown signs of decline and new tariffs can potentially reduce expected growth in global container volumes by up to 1 percentage point", Søren Skou says.


A.P. Møller - Mærsk A/S to accelerate growth in Logistics & Services through further integration

APM Terminals Inland Services will be integrated into Maersk Logistics & Services from 1 August 2019, providing customers with seamless access to a wider range of logistics & services offerings. This is a next step for A.P. Moller - Maersk in the implementation of our strategy to offer end-to-end solutions to our customers.

The Inland Services portfolio is a network of inland terminals around the globe consisting of 36 business units with over 100 locations. By bringing together all operations skills and capabilities within logistics, it creates a base for growth and enables Maersk to excel in the execution within Logistics & Services products.

"APM Terminals can fully focus on becoming a world-class port operator, while Maersk, with the integration of Inland Services, will continue to focus on ocean transportation as well as logistics and services product development and delivery,", says Søren Toft, EVP and Chief Operating Officer A.P. Moller - Maersk and continues:

"By structurally adding Inland Services to Maersk, customers will have a seamless access to a wider range of logistics and services offerings. It puts Maersk in an even better position to differentiate its offering and scale the Logistics & Services portfolio to an even broader customer base."

APM Terminals will continue to serve shipping line and landside customers with services on and around the port premises such as traditional storage and terminal handling as well as newly developed services such as fast-gates. While focusing on its core offering, APM Terminals is also continuing to collaborate with Maersk for customers who are looking for end-to-end solutions.

"The even closer collaboration enables both APM Terminals and Maersk to reduce complexity and eliminate service overlaps, so that both brands can focus on their core strengths and provide greater value and a better experience to customers," says Morten Engelstoft, CEO APM Terminals and EVP A.P. Moller - Maersk.

Today, Inland Services offers a vast arrange of services for both shipping line customers and landside customers. For shipping line customers, the offering of Inland Services centres around depot, container equipment maintenance and repair and transportation. For landside customers, Inland Services is supporting these customers by integrating their supply chains locally through services such as transportation solutions, CFS and warehouse, depots and temperature-controlled handling and storage environments.


Maersk becomes the first container shipping company to offer digital Ocean Customs Clearance

Every port in every country puts cargo through many different rules, regulations and laws that complicate a trader's life. Aiming to provide simple and easy-to-use solutions, Maersk has launched Customs Clearance online shipping management platform in seven European countries - Germany, France, Denmark, The Netherlands, Poland, United Kingdom and Spain - with the goal of expanding this offering across the world by the end of 2019.

International trade is subjected to diverse and wide controls and customs regulations that need to be met to ensure that traded goods are entering and exiting legally.

If a delay occurs, the entire plan gets affected. A delay causes increased expenses such as storage costs, fines, and penalties, resulting in additional problems for importers and exporters.

"This new one-stop-shop allows us to timely and efficiently handle export and import declarations for our customers. The solution provides downstream benefits of full governance and compliance, eliminates the need to provide a quote as pricing is displayed online, saving three to five minutes per quote," explains Vincent Clerc, Chief Commercial Officer of A.P. Moller - Maersk.

"In other words, it saves our customers time, money and headaches reducing the number of intermediaries they deal with from three or four to just one as well as paperwork which subsequently reduce the time spent on transactional procedures. Time saved they can then devote to grow their businesses."

A good example of this is Germany where Maersk has piloted this Ocean and Customs Clearance shipping management platform for almost two years.

"It is perfect to book our service request only with one online platform without contacting further operational departments. We prefer local language and we appreciate collaboration between the responsible departments within Maersk. We welcome the possibility to have all Customs House Brokerage documents uploaded on the internet platform (quick plus easy handling). Would be good to have one invoice handling in the future, but okay for now. The Customs House Broker service provided by the relevant departments is excellent" states Robert Weber from Speditionsabteilung at Neenah Gessner GmBH.

This new functionality will cover all types of cargo for all Maersk brands.


Maersk Completion of demerger adopted

The General Meeting of A.P. Møller - Mærsk A/S (APMM) has on APMM’s ongoing annual general meeting approved the Board’s proposal pursuant to agenda item H (2) to complete the demerger of APMM as described in the demerger plan of 4 March 2019.

As announced on 4 March 2019, the demerger will be completed by APMM injecting 100% of the shares of Maersk Drilling Holding A/S, including this company’s subsidiaries as well as certain other assets and liabilities related to APMM’s drilling activities to a new company, The Drilling Company of 1972 A/S (The Drilling Company of 1972), which will be established as part of the demerger.

In continuation of the adoption of item H (2) of the agenda, the General Meeting has also adopted the Board’s other proposals regarding The Drilling Company of 1972 pursuant to items H (3)-(6) of the agenda.


A.P. Møller - Mærsk A/S: Dutch Sustainable Growth Coalition partners with Maersk in world's largest maritime biofuel pilot

Convinced of the urgency to act on climate, a group of Dutch multinationals - FrieslandCampina, Heineken, Philips, DSM, Shell and Unilever - all members of the Dutch Sustainable Growth Coalition (DSGC), will join forces with A.P. Moller - Maersk to take a tangible step towards the decarbonization of ocean shipping.

A pilot, using up to 20% sustainable second-generation biofuels on a large triple-E ocean vessel will sail 25.000 nautical miles from Rotterdam to Shanghai and back on biofuel blends alone, a world's first at this scale, saving 1,5 million kilograms CO2 and 20.000 kilograms of sulphur.

DSGC members and Maersk all agree that tackling harmful emissions related to shipping is urgently needed, and that cross-industry collaboration is required to develop, test and implement new solutions. The DSGC members, many of which are customers to Maersk, played a critical role. They initiated and sponsor the pilot. Shell, acts as the fuel supplier for the pilot, and Maersk plays the role as operating partner.

Sustainably sourced second-generation biofuels are just one possible solution for the decarbonization of ocean shipping. Longer term, breakthroughs in fuel and technical development (i.e. e-fuels) and the investment into commercial supply chains are needed to achieve significant emissions reductions.

"DSGC companies join in action to contribute to the UN SDGs. With this initiative we focus on Climate Action (SDG 13). We have taken the initiative to partner with A.P. Moller - Maersk on this important effort," says Jan Peter Balkenende, Chair of the DSGC. "This pilot testing biofuel on a cross ocean shipping lane, marks an important step. However, many more innovations are urgently needed. These can only be successfully developed, tested and implemented in industry collaborations like this."

Søren Toft, Chief Operating Officer A.P. Moller - Maersk commented: "To reach our net zero CO2 target by 2050, in the next 10 years we need big breakthroughs. Maersk cannot do this alone. That is why this collaboration with DSGC and its members is such an important step in identifying and bringing low carbon solutions to life. It lays the foundation for how cross-industry partners can work together to take steps towards a more sustainable future. We welcome others to join in our efforts, as this journey is just beginning."

Søren Toft added "Biofuels are one of the viable solutions that can be implemented in the short and medium term. Through this pilot, we aim to learn more about using biofuels in general, and to understand the possibilities around increasing its usage in a sustainable and economical way."

Shipping accounts for 90% of transported goods and 3% of total global CO2-emissions, and is set to rise to 15% by 2050 if left unchecked. The CO2 savings of this journey alone equates to the annual CO2 emitted by over 200 households in a year or 12 million kilometers travelled in an average car which is 300 times around the world. The voyage will take place between March and June 2019.

About the biofuel used:
The biofuel used in this pilot is a so called 'second generation' biofuel, produced from waste sources, in this case used cooking oil (UCOME oil). Second generation biofuel means the biofuel comes from waste products. This can be used cooking oil, forest residues, wood chip waste etc. This biofuel is ISCC Certified, meaning that the whole chain is 3rd party certified. The power of biofuel is that it can to a certain extent replace / blended with conventional (fossil) fuels, without having to make big technical adaptations to the engines or require a complete new engine etc.




A.P. Møller - Mærsk A/S announces the completion of the sale of ordinary shares in Total S.A.

Maersk Oil Trading and Investments A/S ("MOTI"), a wholly-owned subsidiary of A.P. Møller - Mærsk A/S, hereby announces that it has sold 17,272,593 existing ordinary shares in Total S.A. ("Total") representing MOTI's entire shareholding in Total, through an accelerated book-building process.

Gross sale proceeds of the offering amount to approximately EUR 884 million, equal to EUR 51.18 for each ordinary share. The sale will be settled on 22 March 2019.

Barclays Bank PLC and Citigroup Global Markets Ltd. acted as Joint Global Coordinators and Bookrunners in connection with the offering.


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