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Maersk officially withdrew from Russian container terminal business

Time:2022-08-31 Publisher:Kevin Num:3110

Recently, Maersk announced that it had reached an agreement with its partners and recovered all its investment in the business five months after it withdrew from the operation of the largest container terminal in Russia.

It is understood that Maersk said it would sell its equity in global ports investments, the largest container terminal operator in Russia.

AP Moller Maersk's port business APM terminals (apmt) has agreed to sell its 30.75% stake in GPi to Delo group, a long-term partner.

Maersk mainly operates seven container terminals, freight, bulk cargo and RO ro operations in the Baltic Sea.

According to the data released by Drury some time ago, APM terminals is the second largest port operator in the world, with a capacity of 50.4 million TEU in 2021.

Under the influence of the war between Russia and Ukraine, the business of Russian GPI was seriously damaged. The container throughput decreased by 40% in the second quarter of 2022, and the TEU throughput decreased by 20% to 611000 TEU in the first half of 2022.

After the outbreak of the Russian Ukrainian war six months ago, Maersk, like other shipping companies, has ended its container business in and out of Russia.

With the withdrawal from global ports, Maersk will no longer participate in any entity operating in Russia or have any assets in the country.

In 2012, APM terminals agreed to acquire 30.75% of the shares of global ports from transportation investments holding limited, one of the largest private transport groups in Russia, and the two companies jointly managed global ports.

The company operates six terminals in Russia, including St. Petersburg container terminal, one of the largest container terminals in Russia, and Finland terminal.

While withdrawing from Russia, Maersk continues to look for other opportunities to expand its logistics business.

Maersk also announced yesterday that it had signed a memorandum of understanding with the Malaysian investment development authority to promote investment in Malaysia and build the country into one of the logistics centers in Southeast Asia.

Maersk reported that it will cooperate with Mida to attract high-tech and high impact investments in the fields of automobile, electrical and electronic, machinery and equipment, medical equipment, aerospace, renewable energy and consumer technology for Malaysia.

Maersk has been operating in Malaysia since 1975. By strengthening its logistics strength in Malaysia, Maersk said that it would contribute to the growth and development of Malaysia's supply chain industry.

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