Maersk Completes Oil and Gas Spin Off as Drilling Unit Lists in Copenhagen

COPENHAGEN, April 4 (Reuters) - A.P. Moller-Maersk spun off its oil and gas drilling unit and listed it separately on the Copenhagen stock exchange on Thursday, where it was traded slightly below the book value it had in Maersk's own accounts. The demerger is a part of the Danish shipping group's 2016 plan to refocus its efforts into transport and logistics, a plan that has … [Read more...]

Maersk’s Vice CEO Stepping Down After Energy Exit

A.P. Moller – Maersk's Vice CEO and the CEO of its Energy division, Claus V. Hemmingsen, will be stepping down from the roles following the separation of Maersk Tankers, Maersk Oil and Maersk Drilling as part of the Danish conglomerate's strategic transformation to focus on container logistics. The Energy division will close down latest by the end of June 2019, and Claus … [Read more...]

Maersk Ditches Offshore Services Sale in Blow to Simplification

COPENHAGEN, March 29 (Reuters) - A.P. Moller-Maersk said on Friday it had abandoned plans to sell its offshore services business, blaming tough market conditions for the blow to the Danish conglomerate's attempts to focus entirely on its transport and logistics business. "This disturbs the tale they started to tell in 2016. Supply service does not fit their business at all," … [Read more...]

Maersk Announces Latest Step in Business Integration Strategy

Danish shipping giant Maersk has announced plans to integrate its Damco Supply Chain Services unit and Maersk Line’s Ocean Product service, which will be combined and sold as Maersk products and services. In addition, Maersk will also combine its three regional carrier brands, MCC Transport, Sealand and Seago Line, under a single company that will go to market as “SeaLand – … [Read more...]

Maersk’s Offloading of Drilling Unit is Latest Move to Exit Energy

By Christian Wienberg (Bloomberg) -- A.P. Moller-Maersk A/S has decided to list its drilling unit separately, marking its latest step toward a complete exit from the energy industry. Copenhagen-based Maersk, which owns the world’s biggest shipping operations and is working on turning itself into a pure transport company, said on Friday that the decision will take … [Read more...]