Hanne B. Sørensen, chief executive of A.P. Møller-Maersk’s third-party logistics subsidiary, will be replaced by current Maersk Line Head of East West Trades Klaus Rud Sejling, the company said in a statement.
The Shanghai Containerized Freight Index fell 3.5 percent from last Friday to a reading of 707.68, declining for the second straight week as the short-term boost after Hanjin Shipping filed for receivership at the end of August has now faded.
The Japanese ocean carrier has acquired a 25 percent share of EMAS Chiyoda Subsea, a construction firm specializing in offshore and subsea oil and gas facilities, from Singapore’s Ezra Holdings and Japan’s Chiyoda Corporation.
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The now insolvent South Korean ocean carrier released a status update Monday on the 97 vessels it operates, which illustrated that 59 of these vessels are still waiting in open sea.
The Danish conglomerate said one division will focus on transport and logistics, while the other division will focus on energy.
Judge John Sherwood of the U.S. Bankruptcy Court for the District of New Jersey moved to recognize receivership proceedings in South Korea for the now insolvent ocean carrier Hanjin Shipping.