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Maersk is set to be transformed into an integrated container transport and logistics company.
Maersk intends to complete its clearing out process in its subsidiaries by early October. It is a question of integration, capacities and brand orientation, as well as an opportunity to streamline the group in these days of Covid-19.
For once, the Corona epidemic doesn’t have to serve as the excuse. Maersk delivered a result for the second quarter of 2020 that was better than expected; and this in the period in which Europe was most affected by Covid-19. Net profits tripled, from USD 443 to 153 million in the quarter. The fact that the Danish shipping industry leader is nevertheless wielding the axe shows that these plans have been in the top drawer for some time.
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Maersk isn’t beating about the bush with brands previously owned by the South African specialist Safmarine, which was acquired in 1999, and Damco, which has been part of the corporation since 2005, when Maersk acquired P & O Nedlloyd. Both sub-organisations are now set to be fully integrated into Maersk by the end of 2020; the brands will disappear. Estimates have it that more than 3,000 employees will have to leave in these units alone. Vincent Clerc, CEO of the ocean and logistics department at AP Moller-Maersk, is the executor of the measures being taken.
Maersk is set to be transformed into an integrated container transport and logistics company – this is the mantra that CEO Søren Skou, who himself was the head of Damco for many years, has been repeating for the past two years. Read more
Source: ITJ
