Maersk strives for efficiency within fleet structure

The Maersk Company today announces that as part of A.P. Moller – Maersk’s drive for global efficiency there will be transfer of vessels within UK ownership and registration.

The ownership or flag of a vessel does not determine the crew composition and it should be stressed that these changes will not have any effect on the employment of UK seafarers. There is no intention to increase the number of volunteers for redundancy above the 113 already being sought (as per the announcement of 2/10/09).

Terry Cornick – Managing Director, Maersk Company Shipping Division – comments: “These changes are intended to simplify our administrative structure and it’s still business as usual for our fleet and ships personnel as these changes will not affect the employment of UK seafarers.”

The Group is determined to pursue all possible savings to ensure long-term competitiveness within the deep sea and offshore shipping businesses and this move is part of a wider drive to simplify the fleet ownership structure within the Group. Flagging and ownership of vessels is continuously monitored in order to optimise operational possibilities in the global market in which A.P. Moller - Maersk operate.

The shipping industry is facing a challenging period and it is necessary to look at a wide range of options to simplify our business and reduce costs. A simplified fleet structure will reduce spending on ownership administrative fees and will lead to a more agile organisation, able to respond better to market fluctuations and the ongoing global economic crisis.

Maersk Line is the world’s largest container line and part of the A.P. Moller – Maersk Group, based in Copenhagen, Denmark. The Maersk Company Ltd is a UK based subsidiary of the Group. For the first six months of 2009 the Group’s container activities, including Maersk Line, had a loss of USD 958 million.