World's Largest Sea Carrier Decides To Liquidate Its Russian Business

The company occupies about 15% of the total market.

Danish logistics company A.P. Moller-Maersk Group has resumed the liquidation procedure for its Russian subsidiary Maersk LLC, RBC writes with a reference to Fedresurs.

In 2022, after the start of the Russian invasion of Ukraine and the imposition of sanctions, Maersk announced the cessation of business in the Russian Federation. Over the past two years, the company stopped accepting cargo at Russian ports and sold the Delo group of companies a stake in the port holding company Global Ports, warehouses in St. Petersburg and Novorossiysk and more than 800 refrigerated containers to the Polar Star company.

In the same year, Maersk began the liquidation procedure of its subsidiaries — Maersk Solutions LLC and Maersk LLC. Both companies stopped liquidation procedures in 2023 and resumed work, and at the end of February 2024, Maersk LLC made an additional contribution to the company’s property in the amount of 20 million rubles, RBC clarifies.

The reports of Russian subsidiaries for last year say that they did not conduct operational activities and did not receive revenue, and the services of Maersk Solutions may not be in demand due to the imposed sanctions. They noted that Russian organizations, when choosing suppliers, will be determined in favor of “friendly countries.”

A.P. Moller-Maersk Group is one of the world's largest players in the container shipping industry. The company occupies about 15% of the total market.