Maersk Spins Off Its Drilling Business, Signalling the End of the Oil & Gas Era
No-moat Maersk’s full-year results were a real dog’s dinner, with the sale of Maersk Oil and Maersk Tankers, the addition of Hamburg Sud, and the announced spin-off of Maersk Drilling all clouding what was an expectedly mediocre set of numbers. However, warnings around trade wars and a slowing European economy culminated in EBITDA guidance of around $5 billion for 2019. While we might adjust some our near-term forecasts, we do not expect to make material changes to our longer-term expectations. ...A.P. Moeller Maersk is an international shipping company. Co.'s operating segments are: Container shipping and related activities which include global container services, inland transportation, manufacturing and repair of containers and container depots, and logistics and forwarding activities; APM terminals; Tankers, offshore and other shipping activities which include tanker shipping of crude oil, oil products and gas, offshore drilling activities and operation of land rigs, supply vessel activities with anchor handling and platform supply vessels, ferry services and door-to-door transportation in Northern Europe; Oil and gas activities; Retail activity; and Shipyards and other activities.
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