ShippingWatch

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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
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

SDK Freja anticipates steep earnings drop following record year

Logistics company SDK Freja, which delivered record financials with great advancement on top and bottom lines, takes a more gloomy view of the current fiscal year due to several ”external factors.” However, the growth target remains the same, CEO tells ShippingWatch.

LNG carriers concerned about increasing ship prices

The price on new LNG vessels has soared vigorously, and for Flex LNG this has meant a withdrawal from the market for new ships. Such was the statement by Flex LNG’s chief exec at Marine Money in New York, where he also announced new long-term charter agreements.

Maersk ships delayed up to three weeks on US east coast

Bottlenecks at major container ports on the US east coast have entailed that Maersk vessels are affected by delays of up to three weeks. It’s a combination of congestion, many ships, and a lack of container space, Maersk says.

Further reading

Related articles

Latest news

See all jobs