Expand / Collapse search
Watch TV
Menu

This material may not be published, broadcast, rewritten, or redistributed. ©2024 FOX News Network, LLC. All rights reserved. Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. Mutual Fund and ETF data provided by Refinitiv Lipper.

Europe

AP Moller-Maersk splits its shipping, energy operations

Associated Press
Published | Updated
  • 79709765-
    Image 1 of 3

    FILE - In this Jan. 31, 2014, file photo of A.P. Moller-Maersk containers on a ship in the Panama Canal. Denmark’s A.P. Moller-Maersk A/S is splitting its container shipping and energy operations into two independent entities as part of a major shakeup. The Copenhagen-based group said Thursday Sept. 22, 2016 that the transport and logistics division will include its shipping, terminal and container businesses, while the energy division will handle oil drilling and production as well as the tanker business. (Thomas Borberg/Polfoto via AP,file) (The Associated Press)

  • 765205d4-
    Image 2 of 3

    FILE - In this Oct. 23, 2013, file photo of A.P. Moller-Maersk's oil rig in the North Sea named Halfdan. Denmark’s A.P. Moller-Maersk A/S is splitting its container shipping and energy operations into two independent entities as part of a major shakeup. (Claus Bonnerup/Polfoto via AP,file) (The Associated Press)

  • de24da86-
    Image 3 of 3

    FILE - In this Oct. 23, 2013, file photo of A.P. Moller-Maersk's oil rig in the North Sea named Halfdan. Denmark’s A.P. Moller-Maersk A/S is splitting its container shipping and energy operations into two independent entities as part of a major shakeup. The Copenhagen-based group said Thursday the transport and logistics division will include its shipping, terminal and container businesses, while the energy division will handle oil drilling and production as well as the tanker business. (Claus Bonnerup/Polfoto via AP,file) (The Associated Press)

COPENHAGEN, Denmark – Denmark's A.P. Moller-Maersk A/S is splitting its container shipping and energy operations into two independent entities as part of a major shakeup.

The Copenhagen-based group said Thursday the transport and logistics division will include its shipping, terminal and container businesses, while the energy division will handle oil drilling and production as well as the tanker business.

A.P. Moller-Maersk also raised the possibility of separating its oil units from the group through joint ventures, mergers or listings. It said the main growth focus of the group going forward would be "delivering best in class transportation and logistics services."

The move comes just months after Soeren Skou replaced Nils Smedegaard Andersen as CEO in July.

The group has seen profits and revenue plummet due to low oil prices and freight rates.