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A.P. Moller-Maersk (OTCPK:AMKBY) (OTCPK:AMKAF) said Monday it agreed to sell its offshore marine service provider Maersk Supply Service to family-owned holding company A.P. Moller Holding for $685M, marking the completion of the company’s plan to divest all energy related activities and fully focus on integrated logistics.
Maersk Supply Service provides services for the offshore energy sector, ranging from anchor handling to redirecting icebergs away from oil platforms, with a fleet of 36 vessels, and installs offshore wind turbines and helps with decommissioning of subsea energy installations that come to the end of their lifespan.
The shipper sought to sell Maersk Supply Service in 2018 but ultimately failed to find buyers.
TotalEnergies bought Maersk Oil in 2017 for $7.45B in shares and debt payments, while Maersk Drilling was spun off for ~$3.6B in 2019.