New CEO says APM Terminals "well underway" leaving Russia

Maersk’s investment in Russian container terminals via Global Ports connects to major companies, and divesting equity ”must be done properly,” says incoming APM Terminals CEO Keith Svendsen to ShippingWatch. The decision to sell the shares is final, he says.

A Global Ports terminal. | Photo: Global Ports Portchain

A.P. Møller-Maersk has announced the company will get rid of its investment in Global Ports, which operates five Russian container terminals, as a consequence of Russia’s invasion of Ukraine, and Maersk is in full swing withdrawing, says Keith Svendsen, incoming chief executive of Maersk’s port operator, APM Terminals.

”We’ve said we’re going to exit. We’re going to close, which we’re working on at the moment, and we will communicate further when we can,” says Svendsen, currently chief operating officer of APM Terminals, to ShippingWatch.

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