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Tuesday, May 17, 2022

Maritime Logistics Professional

March 11, 2022

Maersk to Sell Stake in Russian Port Operator Due to Ukraine War

(Photo: Global Ports Investments)

(Photo: Global Ports Investments)

A.P. Moller-Maersk is looking to divest its 30.75% stake in Russian port operator Global Ports Investments due to Russia's invasion of Ukraine, Maersk's port unit APM Terminals said on Friday.

Global Ports' shareholders include Russian state nuclear company Rosatom and Russian businessman Sergey Shiskarev. The firm is listed on the London Stock Exchange and runs six terminals in Russia and two in Finland.

"We have today informed our joint venture partners and GPI, that we wish to take steps to divest our shares following the invasion of Ukraine and the operational challenges," APM Terminals said in a statement.

Maersk earlier this month temporarily suspended cargo shipments to and from Russia.

(Reporting by Stine Jacobsen and Nikolaj Skydsgaard, Editing by Louise Heavens)