, Columnist
Maersk Shapes Up and Ships Out
Shipping giant has few options in a world of overcapacity.
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AP Moeller-Maersk is the latest company to do the splits. But the Danish conglomerate isn’t going for a dramatic breakup all in one go, like a certain Hollywood power couple. It’s letting the marriage between its two main business activities -- transport and oil -- fizzle out. While they're officially separating, they'll still live together for a while. That may be best for both parties.
Maersk’s operating environment could scarcely be worse. Its container shipping and ports business is in a sector plagued by overcapacity. Meanwhile, its oil services units cater to an industry that's cutting back on drilling amid a global glut of crude.