Maersk Almost Completing Russia Exit After The Sale Of Logistics Sites

A.P. Moller-Maersk shipping and logistics group has already agreed to sell its two logistics sites in Russia to IG Finance Development Limited. The announcement came on February 20 and it almost marks the end of its business activities in the nation.

The group insisted that the sale of its inland depot facility in Novorossiisk, which has a capacity of 1,500 containers (TEU), coupled with a chilled and frozen warehouse in St. Petersburg had acquired regulatory approvals in Russia and the European Union.

Chief Commercial Officer Karsten Kildahl stated:

“We are pleased to have found a new owner of our two logistics sites in Russia and thereby execute on our decision to divest all our assets in the country.”

IG Finance Development, a firm registered in Cyprus, has made a binding agreement with Arosa, a major food importer in Russia, to operate these sites, as mentioned by Maersk.

Maersk still has to sell four tug boats operated by its Svitzer brand, a process that is underway, a spokesperson told reporters. After that, Maersk will not have any business activities in Russia.

In August 2022, Maersk sold a 30.75% stake in Global Ports Investments, a Russian port operator, to Russia’s biggest container operator Delo Group.