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Published September 22, 2016
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.