AP Moller-Maersk is not going to invest significantly in shipping business over the next five years.
Instead, the group will focus its investment on the offshore drilling rig and port sectors.
Group CEO Nils Andersen told The Financial Times, “We will move away from the shipping side of things and go towards the higher profit generators and more stable businesses.”
“Over the next five years, we are not going to invest significant amounts in Maersk Line. We have sufficient capacity to grow in line with the market.”
Maersk Line, the group's container shipping unit, has struggled with profitability amid global economic slowdown and an oversupply of boxships.
Published : November 20, 2012
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