Maersk to acquire insolvent competitors
A.P. Moller-Maersk CEO Nils Smedegaard Andersen has told the German magazine WirtschaftsWoche that the group could be taking-over insolvent competitors and acquiring re-sale vessels.
According to Andersen, it would be the cheapest way to expand during current market conditions.
A.P. Moller-Maersk is also investing in vessels for the African and South American markets as it seeks to spend some 6.5 billion euros ($9.28 billion) this year, Reuters reported.
According to Andersen, part of the money will be spent on new and existing harbours.
Andersen also said that while the group is considering selling its passenger and car ferry business, it will be holding on to its box carrier operations – Maersk Line.
According to Andersen, it would be the cheapest way to expand during current market conditions.
A.P. Moller-Maersk is also investing in vessels for the African and South American markets as it seeks to spend some 6.5 billion euros ($9.28 billion) this year, Reuters reported.
According to Andersen, part of the money will be spent on new and existing harbours.
Andersen also said that while the group is considering selling its passenger and car ferry business, it will be holding on to its box carrier operations – Maersk Line.