Maersk nears to exit Russia after selling 2 logistics sites

Shipping and logistics group AP Moller-Maersk has agreed on Monday sell its two logistics sites in Russia to IG Finance Development Limited, which marks the end the company’s business activities in the country.

The sale of Maersk’s inland depot facility in Novorossiisk, with a capacity of 1,500 containers, and a chilled and frozen warehouse in St. Petersburg had obtained regulatory approvals in the EU and Russia, Moller-Maersk said in a statement.

Chief commercial officer of Maersk Karsten Kildahl has explained that this step came within the firm’s direction towards “divesting” the company’s assets in Russia; while explaining her gladness they found a new owner.

As for the two sold Logistics sites, IG Finance has agreed with Arosa to operate them. The former is a firm registered in Cyprus, while the latter is a food importer in Russia.

The group is awaiting to sell four Svitzer tug boats, and by the end of that process, Maersk will have officially finalised its business in Russia, said a spokesperson to Reuters.

AP Moller-Maersk, which has subsidiaries and offices across 130 countries, was the largest container shipping line and vessel operator globally, until 2022, after being dethroned by the Mediterranean Shipping Company (MSC).