Alphaliner: Maersk Could Sell APM Terminals and Damco
Image Courtesy: APM TerminalsDanish shipping major Maersk Line’s container shipping related units, APM Terminals (APMT) and Damco, could be spun-off or divested entirely, following the company’s strategic and structural review, according to Alphaliner.
The move could be made as the company faces “tough divestment choices” after posting an operating loss of USD 111 million and a net loss of USD 151 million for its container shipping business in the second quarter of 2016.
The ocean carrier’s losses have dragged down overall net profits of the A.P. Møller-Maersk Group to only USD 118 million for the quarter, compared to USD 1.1 million in the same quarter last year.
Alphaliner added that the appointment of Søren Skou as the group CEO in June, and his concurrent role as CEO of Maersk Line, suggested that container shipping would remain central to the group’s new strategy.
Maersk expects to disclose details of the review at the end of September, at which point it would decide on whether it “should stay as it is, or whether it should be split up.”
