Danish shipping giant AP Møller-Maersk plans to diversify investments. Maersk CEO Nils Smedegaard Andersen told Denmark's Berlingske Tidende newspaper that the company would turn away from shipping and focus on higher yield oil and terminals.
Large scale investment in Maersk Line over the last 20 years has meant that the company’s containership fleet is one of the world’s largest, but with falling profits in that division, the company planned to invest in places where the return was better.
"Maersk Line has given bad yields. Our focus will be oil and terminals, among others," said Mr Andersen. "Our oil business and terminals continue to grow significantly faster than the market."
Mr Anderson also said that even when global economies stabilised, the group would not order more containerships, but charter them instead to increase flexibility.
Maersk Line has 70 container ships on order with a total capacity of 365,338TEU, which equals 17.9 percent of its existing fleet, according to AXS-Alphaliner.
Large scale investment in Maersk Line over the last 20 years has meant that the company’s containership fleet is one of the world’s largest, but with falling profits in that division, the company planned to invest in places where the return was better.
"Maersk Line has given bad yields. Our focus will be oil and terminals, among others," said Mr Andersen. "Our oil business and terminals continue to grow significantly faster than the market."
Mr Anderson also said that even when global economies stabilised, the group would not order more containerships, but charter them instead to increase flexibility.
Maersk Line has 70 container ships on order with a total capacity of 365,338TEU, which equals 17.9 percent of its existing fleet, according to AXS-Alphaliner.