Maersk sells off Russian port assets

Danish shipping giant is now completely out of Russian market after divesting its 30 percent share in Global Ports

Aug 30, 2022

Ever since Russia invaded Ukraine earlier this year, Maersk has been looking to divest its assets in the Russian market.

Now that strategy has come to fruition, with the Danish shipping firm announcing that it has divested its Russian port assets.

Maersk has revealed that it has sold off its 30.75 percent stake in Global Ports to Russian-owned Delo Group.

“We are pleased that we have now concluded this transaction according to the plan and with our long-standing partner Delo, enabling us orderly exit from GPI in line with our decision to discontinue activities in Russia,” said Keith Svendsen, the CEO of APM Terminals.

Sailing away into the sunset
Maersk, which was edged off the world’s largest shipping firm pedestal earlier this year, temporarily suspended all shipments to Russia in March – aside from essentials such as food, medicine and humanitarian deliveries.

Now, that initial step has taken on a more permanent appearance.

“With the divestment of its shares in GPI, APMT will no longer be involved in any entities operating in Russia or own any assets in the country,” wrote Maersk.

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