Maersk earmarks billions for investments over the next two years

A.P. Møller-Maersk plans to invest between USD 4.5 and 5.5 billion in 2021 and 2022. Maersk's financial reserves for acquisitions, share buybacks and investments are, however, much greater, assesses investment bank. Skou denies expanding the fleet.

Photo: PR / Maersk

Maersk has time and time again announced that it is scouting for relevant acquisition targets, and the group now names a figure for what it expects to invest over the coming years.

In 2021 and 2022, Maersk expects its total capex spending to range somewhere between USD 4.5 and 5.5 billion, reveals the group's interim report for the third quarter.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Employee at Bunker Holding subsidiary charged for alleged corruption

A trader at KPI Oceanconnect, a subsidiary of Bunker Holding, has been charged with alleged corruption totaling at least USD 191,250 as rewards for nominating Straits for the supply of bunker fuel to KPI's customers. The employee has been suspended and his contract terminated, the company informs ShippingWatch.

Freight rates for furniture eat up almost entire profit

The price of shipping a 40-foot container with assembled furniture from Asia to the US West Coast is currently so high that freight rates make up almost 100 percent of the furniture's retail value, according to Sea-Intelligence.

Wallem Group appoints new CEO

Wallem Group appoints interim CEO since January 2021 as the new chief executive officer of the ship management company.

Further reading

Related articles

Trial banner

Latest news

See all jobs