Maersk reportedly selling offshore support company

The Esbjerg-based company is worth an estimated 2-3 billion kroner

Mar 26, 2014

Danish shipping giant AP Møller-Maersk is preparing to sell off its offshore support company, Esvagt, which handles safety and support for offshore operations in the Barents Sea and North Sea.

In a letter to Esvagt employees, which Børsen business newspaper has come into possession of, Maersk indicated that it was looking to offload the Esbjerg-based company in the near future.

“Esvagt is not considered a core business, and as the CEO of the Maersk Group has said, we will consider a sale of all non-core businesses if a better owner is found, as is our obligation in according to the shareholder agreement among the owners,” the letter stated according to Børsen.

Profits galore
While Maersk owns 75 percent of Esvagt, the founders of Esvagt are still minority shareholders and reportedly eager to keep the company in Danish-owned hands. Esvagt was founded back in 1981.

Esvagt operates a fleet of 37 emergency and guard ships that primarily ensure safety around oil and gas rigs in the North Sea. According to the latest financial results, company made a 185 million kroner profit and is worth an estimated two to three billion kroner.

Maersk has decided against commenting on the news, Louise Münter, the head of communications for Maersk, informed Børsen.

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Maersk reportedly selling offshore support company

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