Tag Archives: Maersk

Weekly Press Review – 28 August 2017

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The sale of Maersk oil and gas assets to Total made headlines this week. Total agreed to buy the oil and gas unit AP Moller-Maersk, paying Maersk with $4.95 billion (R65.03 billion) of its own shares and assuming $2.5bn of the company’s debt.

The board at Grindrod is investigating the possibility of a separate offshore listing process.

According to the press, Mike Hankinson, executive chairman of Grindrod said, “The Grindrod board has for many years reiterated the intention to separate the shipping business from the balance of the group, as it does not believe that the value of the shipping business is fairly reflected in the Grindrod share price.”

The company has said that it has appointed South African and foreign advisers to assist and it is expected that the listing process will be concluded within the first half of next year.

Despite Sasol announcing a 15 percent fall in headline earnings, Sasol shares traded in positive territory this week.

According the press, the stock moved 1.58 percent up in early trade with the shares settling 0,57 percent up at R392.80 at the close of the JSE on Friday.

Sea Harvest, the fishing division of Brimstone, is working towards the purchasing of a freezer ship valued at $15.5 million.

According to the press, Felix Ratheb, executive head of Sea Harvest, says the vessel is a necessity to ensure optimal use of the fleet.

The Department of Agriculture, Forestry and Fisheries (DAFF) says that it is making progress in the fight against abalone poaching after two separate arrests last week and the confiscation of abalone worth approximately R13 million.

According to the press, the department says, “The protection of Marine Living Resources, including abalone, is one of the priorities of the department.”

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Weekly Press Review – 29 May 2017

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A gas explosion led police to a house in Mowbray this week resulting in the seizure of R2.8 million worth of illegal abalone.

According to the press, police spokesperson Noloyiso Rwexana said that the seizure in Montclaire Road in Mowbray had dealt a blow to illegal trade in marine resources.

Neighbours alerted the police to the explosion.

“Police conducted an investigation on the scene and found plastic containers and buckets containing abalone. Protecting our marine resources remains the core of the mandate of the SAPS,” said Rwexana.

The three men arrested at the scene will appear in the Magistrate’s court once they are officially charged.

The blue economy has made headlines once again this week. According to Professor Narnia Bohler-Muller, head of the Human Sciences Research Council (HSRC), South Africa’s blue (ocean) economy is an area of focus for economic growth and development.

Bohler-Muller, who recently attended the 3rd workshop of the Blue Economy Core Group in Mauritius, said that people were starting to talk about the blue economy and that the government was developing a strategy around it, stemming from Operation Phakisa.

Under Operation Phakisa, Oceans Economy, the government aims to grow the ocean economy’s contribution to South Africa’s gross domestic profit to between R129 billion and R177 billion by 2033.

Container shipping company, Maersk, says that the container sector is seeing an uptick in intra-Africa trade due to the fall of most long-standing internal trade barriers.

According to the press, David Williams, chief executive of Maersk Line Africa, said that the most recent progression in this regard was the increasing implementation of the one stop border post concept across the continent.

Weekly Press Review – 22 September 2016

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According to the press this week, residents of the Overberg region had the opportunity to voice their concerns regarding the ongoing perlemoen poaching and the effects that it seems to be having on increased gang violence, drug abuse and prostitution in the area at a committee meeting of the provincial committee of economic opportunity.

Anne Lubbe, head of human resources at Abagold, one of South Africa’s main perlemoen providers said, “Perlemoen is now about many more issues. It is an exit and income for many, but for others the consequences are worse than ever.

Everyone is jumping in the ocean for perlemoen. There is no control over perlemoen poaching. The poachers get the perlemoen, they receive no cash, they get drugs. These drugs have to be sold to make money. School children are used to sell the drugs.”

In response, Col. Jacques Visser of the Hawks in the Western Cape said, “We have successfully pursued 145 cases and arrested more than 400 people. These cases are now in the courts.”

The Department of Agriculture, Forestry and Fisheries, DAFF, was not represented at the committee meeting.

In response to low freight and oil prices, Denmark’s Moller- Maersk will spilt itself and focus on transport and logistics, while simultaneously continuing to seek a way out of energy in a much anticipated revamp aimed at reviving its fortunes.

According to the press the conglomerate will focus on its core businesses: Maersk Line, APM Terminals, Damco, Svitzer and Maersk Container Industry, while also looking for solutions for its smaller energy operations.

The news was received cautiously by investors. “It might be one of the most pain-free solutions relative to other scenarios, but they could have gone even further,” said Nykredit analyst Ricky Rasmussen.

Work on the R1.3 billion mixed use development at the gateway to the V&A Waterfront in Cape Town has made headlines this week.

“The Yacht Club” is being developed by the Amdec Group and will comprise a hotel as well as  modern urban apartment living in two towers on a podium of premium grade office space.

Nicholas Stopforth, managing director of Amdec, said, “The hotel will have a contemporary four-star grading.” He added that the apartments had proven particularly popular with investors, who had enthusiastically welcomed the massive potential they represented for long-term leases, and owner occupiers. About 20 percent of these buyers are based in Gauteng.

Weekly Press Review – 6 March 2015

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Perlemoen arrests have made headlines again this week with another five people being arrested after a raid on a house in Kuilsriver.  Three Chinese nationals and two Zimbabweans were arrested at the scene where wet and dry perlemoen to the value of R3.2 million was discovered.  The five appeared in the Cape Town Magistrate’s Court on Wednesday.

Managing director of Maersk Line South Africa, Jonathan Horn’s comments with regard to South Africa no longer being the only gateway into Africa have also made headlines this week.

At the group’s global results report in Durban, Horn pointed out that ports in both east and west Africa were catching up with South African ports.

“If you look at the emerging markets of West and East Africa, they are slightly smaller, but their growth rates there are increasing significantly and on a much higher level.  South Africa is certainly not the only gateway to Africa anymore,” said Horn.

Also making the news is the strike by Food and Allied Workers Union (Fawu) members at two crayfish packaging companies in Hout Bay and Saldanha.  The strike is due to a dispute over the manner in which worker-related negotiations should be conducted.

The factories are Inkosi Keta Marine in Hout Bay and the Live Fish Tanks on the West Coast. Fawu national fishing sector organiser, Zolani Mbanjwa said, “We, as Fawu, are pushing for collective negotiations with the two companies.  The dispute started when we tried to consolidate the recognition agreement for both companies under one agreement.  But the companies refused to enter into the agreement.”

Keta marine’s labourer relations manager, Frederi Steyn-Visser said the issue had been referred to the CCMA for a resolution.