Cargo giant A P Møller–Mærsk will be reorganized into two entities: a Transport & Logistics division and an Energy division. This will ensure focus on driving synergies and developing new products and services in Transport & Logistics, as well as focus on separately developing structured solutions for the oil and oil-related businesses.
The board of directors continues to focus on ensuring a strong capital structure and defined key financial ratio targets in line with an investment grade rating.
Michael Pram Rasmussen, chairman of the board, said, “The industries in which we are operating are very different, and both face very different underlying fundamentals and competitive environments. Separating our transport and logistics businesses and our oil and oil-related businesses into two independent divisions will enable both to focus on their respective markets.”
Transport & Logistics will consist of Maersk Line, APM Terminals, Damco, Svitzer, and Maersk Container Industry based on a one-company structure with multiple brands. The mission of these businesses is to enable and facilitate global supply chains and provide opportunities for customers to trade globally.
Managing and operating the business activities in Transport & Logistics in a more integrated manner will enable profitable growth through stronger collaboration and disciplined capital allocation.
The Energy division will consist of Maersk Oil, Maersk Drilling, Maersk Supply Service, and Maersk Tankers.
Long-term growth in energy demand and sharp reductions in investments in recent years, leading to an expected reduction in oil supply in the coming years, provide opportunities to grow Maersk Oil based on the company’s key technical competencies. Maersk Oil will focus its portfolio in fewer geographies to gain scale in basins, particularly in the North Sea, where it can leverage its capabilities within subsurface modeling, well technology, and efficient operations. Maersk Oil will aim to strengthen its portfolio through acquisitions or mergers.
Maersk Drilling, Maersk Supply Services, and Maersk Tankers will continue to optimize their market position and operation with the existing fleet and order book. Additional investments in offshore service businesses and Maersk Tankers will be limited.
For further information, go to www.maersk.com.