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Container Shipping & Trade

Container Shipping & Trade

Maersk beefs up its transport and logistics focus

Fri 25 Aug 2017 by Rebecca Moore

Maersk beefs up its transport and logistics focus
Maersk sells Maersk Oil – a first step in transforming AP Møller-Maersk into a purely transport and logistics company

Maersk’s aim to be a “fully fledged” transport and logistics company is well on its way after the sale of Maersk Oil.

AP Møller-Maersk (APM-M) announced on 21 August its sale of Maersk Oil to the French oil and gas major Total SA for a total enterprise value of US$7.45 Bn. APM-M will receive US$4.95Bn in Total shares and Total will take on US$2.5Bn of Maersk Oil’s debt.

Alphaliner commented “Ending the group’s involvement in the energy business, the sale represents a first step in transforming AP Møller into a fully fledged transport and logistics company.”

It said that Maersk Oil is the second biggest division of APM-M after Maersk Line, with 14% of the group’s total revenues.

The transaction is expected to be completed in Q1 2018, subject to regulatory approvals from authorities.

Alphaliner highlighted that the three other business units in APM-M’s energy division – Maersk Drilling, Maersk Tankers and Maersk Supply Service – will be separated from the group by the end of 2018. This is part of APM-M’s aim of focusing on transport and logistics and was announced in its strategic review last year.

 

 

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