Maersk to Grow Market Share via Acquisitions
1 October 2016
Danish shipping giant Maersk Line’s new focus will be on “gaining market share organically” under the new strategic plan unveiled by the Maersk Group on September 22, while keeping its options open in regards to potential opportunistic acquisitions, according to Alphaliner.
With the new focus on organic growth, most of Maersk’s desired market share gains will have to come from taking market share from competitors, although the company said that acquisitions “will be considered if value creating.”
However, the company also stressed that “building new ships is not the way to go,” and new investments would be focused on acquisitions, Alphaliner said.
Under the new strategic plan, Maersk Line will form the core of the Maersk Group’s new Transport and Logistics division that will also include APM Terminals and the logistics services of Damco, together with the harbour towage and salvage business of Svitzer and the container manufacturing activities of Maersk Container Industry (MCI), while theThe group’s oil and gas related businesses will be transferred to a new Energy division.
The new Maersk structure was unveiled following a three-month strategic review that was initiated following the departure of former Group CEO Nils Andersen at the end of June, since replaced by Søren Skou, who also acted as the CEO of Maersk Line.