Maersk gradually withdraws from Russia after selling two logistics centers

The move to completely transfer management of two logistics sites in Russia to IG Finance Development Limited almost marks the end of Maersk's business activities in the country.

The group said the sale of its domestic warehouse facility in Novorossiisk with 1,500 containers (TEU) capacity and a cold storage facility in St. Petersburg received regulatory approval from the European Union and Russia.

Mr. Karsten Kildahl, Commercial Director of Maersk said that the unit is happy to find new owners for its two logistics operations locations in Russia. They also made the decision to divest all of the group's assets in this country shortly after.

Maersk said that IG Finance Development agreed with Arosa, a large food importer in Russia, on a plan to fully operate these logistics locations after officially taking over.

In addition, a representative of the group also shared with Reuters that Maersk still needs to sell four Svitzer-branded tugs to stop all of their business in Russia completely.

Container ship Vaga Maersk docked at the port of Saint Petersburg, Russia, on April 18, 2022

Last August, Maersk sold a 30.75% stake in the port operator Global Ports Investments (GLPRq.L) to one of Russia's largest container operators - Delo Group.

In February 2023, this group also expanded its scale in the Chinese market when building a new logistics center in Shanghai. The unit held a groundbreaking ceremony for this $150 million center on February 14.

Once put into operation, this center is expected to provide partners and customers in China with a variety of integrated logistics services, including international export, cross-border e-commerce, and order distribution within and abroad...

In addition, the group also plans to invest in a larger smart and green integrated logistics center. The scale of operations expands to the whole Asia - Pacific at Yantian Comprehensive Bonded Zone, exploiting more market potential.