COPENHAGEN Dec 13 The acquisition of German
shipping company Hamburg Süd will replace some 60 percent of
revenue lost when A.P. Moller-Maersk spins off its
energy division, the head of the Danish company said on Tuesday.
Maersk announced a major restructuring in September in which
the family-owned group plans to focus on transport and logistics
and separate its energy operations.
The energy division, which includes exploration and
production, tankers and drilling, made up a quarter of Maersk's
revenue last year, around $9.8 billion.
In comparison, Hamburg Süd had revenue of around $6 billion,
Maersk said in a presentation at its capital markets day on
"We intend to replace that lost turnover quickly through
organic and inorganic growth," Chief Executive Soren Skou said
at the presentation, noting that Hamburg Süd's revenue last year
totalled some 15 percent of Maersk's total revenue.
Two weeks ago, the company announced its first full takeover
in more than a decade when it said it would buy German shipping
rival Hamburg Süd for an undisclosed sum.
The deal is one of a series in a container shipping industry
hit buy low freight rates and oversupply.
(Reporting by Jacob Gronholt-Pedersen; Editing by Keith Weir)