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Date added: 21/10/2016 Maersk to Consider Splitting Its Operations?

Maersk to Consider Splitting Its Operations?

Image Courtesy: MaerskImage Courtesy: Maersk

Danish shipping and energy conglomerate Maersk Group is considering a number of strategic and structural options, one of which might be splitting up the group’s operations, according to Bloomberg.

The company’s business units are self-running, therefore the group is looking where to go next, Chairman of the Board of Directors, Michael Pram Rasmussen, told Bloomberg.

Maersk Group’s Board of Directors will now review whether to continue operating with five distinct businesses together or whether it should split.

The Maersk Group is made up of five core businesses which include Maersk Line, APM Terminals, Maersk Oil, Maersk Drilling and APM Shipping Services.

The announcement follows Maersk’s latest shift in management as the group appointed Søren Skou as new Chief Executive Officer of A.P. Møller – Mærsk A/S, replacing Nils S. Andersen, effective July 1, 2016.

Skou has been a member of the Executive Board of A.P. Møller – Mærsk since 2006, and in 2012, he was appointed CEO of Maersk Line.

For now, Skou will continue to hold his position of Maersk Line CEO in addition to his new role.

Following the announcement, Maersk Group’s shares surged by 12 percent.

World Maritime News Staff

Date added: 21/10/2016 Nigeria Cuts Oil Prices, Sees ‘Huge Cargo Overhang’ in Market

Date added: 20/10/2016 Maersk Line Makes a Comeback to Iran

Maersk Line Makes a Comeback to Iran

Danish shipping giant Maersk Line has restored its services to and from Iran, after a five-year absence from this Middle East country.

The company said it offers nine mainline services with weekly departures on all major trade lanes to/from Jebel Ali, with a direct feeder to Bandar Abbas.

For imports from Iran, there are three weekly services connecting the Middle East and Europe which include ME1, ME2 and ME3, the Horn of Africa service linking the Middle East and the Horn of Africa and the Masika Express service between the Middle East and East Africa. In addition, the company offers the Mesawa service connecting the Middle East and West Africa/South Africa as well as the Horn of Africa service that links the Middle East and the Far East.

For exports to Iran, Maersk Line offers three additional services, AE1, AE11 and AE15, that link the Middle East and the Far East.

The latest country included in the Maersk Line organization is part of the UAE cluster comprising of UAE, Oman, Qatar and Iran.

“After a period of relative isolation, access to this new market will present significant growth opportunities for Maersk Line in a market that today represents approximately 700,000 FFE but is expected to grow significantly in the coming years.” Marcus Connolly, Head of Sales, UAE Cluster, Maersk Line, said.

Image Courtesy: Maersk Line

Image Courtesy: Maersk Line

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