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Maersk establishes new core business unit

Starting January 2014, the Maersk Group will establish a new core business unit with its own CEO, involving the companies Maersk Supply, Maersk Tankers, Svitzer, and Damco. The move expands the number of core units from four to five. (updated)

From 2014 there will no longer be just four core business units at A.P. Moeller-Maersk; there will be five, as a new core business unit will be established in January 2014 under the name "Services & Other Shipping." The new unit will have its own CEO and will include Maersk Supply Service, Maersk Tankers, Svitzer, and Damco, with a combined target of achieving a USD 0.5 billion NOPAT by 2016, according to the Group's 2nd quarter interim report 2013.

The goal is for the new business unit to be self-funded, with the possibility of reallocating resources among the four businesses. Going forward, investments in Maersk Supply Service will increase while investments in Maersk Tankers will remain limited until the market improves. On a conference call Friday, CEO Nils Smedegaard Andersen said that Maersk Tankers will focus on product tank going forward.

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