AP Moller-Maersk Decides Not To Sell Maersk Supply Service

In the recent events that have unfolded in the oil industry, Maersk has decided not to sell its supply service business. Although in the past few years, group planned to sell of the supply services as part of focusing on the container business only.

Since group was not able to find a suitable buyer for the maersk supply service, they have planned to keep with them. It will be utilized in various ways as the fleet size is around more than 40 vessels. Steen S. Karstensen, CEO of Maersk Supply Service said that they will be using the supply service in other markets related to the oil and the skilled manpower they have will make it easier to do so.
Maersk have already sold its oil business for a amount which is more than 7 billion dollars and other oil related business have been merged with others. In the year 2018, maersk decided to use supply service vessels for different other area like offshore wind, ocean cleaning and deep-sea mining, and this good planning have resulted in bringing decent amount of profits. May be this is the reason, why they decided not to sell it, considering the reason of not getting a potential buyer for the same.
AP Moller Maersk is a huge group which mainly has operations related to the container business and holds a market share of more than 18%. Container Line Business is their main cash cow. Other parts of the group are container terminal, DAMCO, container building etc. In the year 2018, Maersk group had an revenue of more than 8 billion dollars in total, which was 24 % more than the previous year.

This was all from this article, stay tuned for more updates related to shipping business. Comment below for any kind of suggestions related to shipping and other queries also. Hope you enjoyed reading article.

MG Staff

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