The Maersk Group announced today it has taken the decision to separate the transport and logistics company from the oil and oil-related businesses of the Group.
According to a statement issued on the Group’s website, this will enable Maersk Oil to focus on the optimisation of its “strong position in the Danish, British and Norwegian parts of the North Sea”.
“The industries in which we are operating are very different, and both face very different underlying fundamental and competitive environments. Separating our transport and logistic businesses and our oil and oil-related businesses into two independent divisions will enable both to focus on their respective markets,” Maersk’s Chairman of the Board, Michael Pram Rasmussen, said.
Maersk Splits into Two Separate Businesses
Therefore, A. P. Moller – Maersk A/S will be reorganised into two independent divisions: an integrated transport and 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 our oil and oil-related businesses”, the company informed.
Maersk Group headquarters in Copenhagen
As well as this, the company hopes the move will help increase flexibility and assure “the agility to pursue individual strategic solutions for the oil and oil-related businesses”.
“While we are rooted in shipping and energy, we must never become static in a dynamic world. We therefore welcome the new strategy and structure announced by the A.P. Møller – Mærsk A/S.,” Group CEO of A. P. Møller – Mærsk A/S, Søren Skou, said.
Maersk Limits Investment in Offshore Services
Transport & Logistics will consist of Maersk Line, APM Terminals, Damco, Svitzer and Maersk Container Industry based on a one company structure with multiple brands, while the energy division will consist of Maersk Oil, Maersk Drilling, Maersk Supply Service and Maersk Tankers.
Maersk Oil is to focus on fewer locations to gain scale, particularly in the North Sea, strengthening its portfolio through acquisitions or mergers.
Maersk Drilling, Maersk Supply Services and Maersk Tankers will continue to optimise their position with the existing fleet and order book, with “limited” investment in the Group’s offshore service businesses and Maersk Tankers.