Henriette Hallberg Thygesen
Globally renowned container logistics company, A.P. Moller - Maersk (Maersk) signed an agreement, on Monday, September 27, 2021, to sell its reefer manufacturer, Maersk Container Industry (MCI), to China International Marine Containers Ltd. (CIMC), which is headquartered in Shenzhen, China and listed on the Shenzhen Stock Exchange, and Hong Kong Stock Exchange. Maersk Container Industry (MCI) will become part of a market renowned company in the container equipment industry. CIMC will take over MCI’s entire organisation and assets, which include the reefer factory in Qingdao, China, as well as its R&D and test engineering facilities, located in Tinglev, Denmark. Divestment of Maersk Container Industry We believe that we in CIMC have found a good long-term owner of MCI" “We believe that we in CIMC have found a good long-term owner of MCI. The divestment of MCI is part of A.P. Moller - Maersk’s business transformation, where focus is on being an integrated container transport and logistics company, creating customer value across the entire supply chain,” said Henriette Hallberg Thygesen, the Chief Executive Officer (CEO) of Fleet & Strategic Brands, in A.P. Moller - Maersk. Henriette Hallberg Thygesen adds, “While strengthening the synergies between the core businesses of our global integrator offering, we have reviewed the strategic fit of MCI and decided to find a new home for MCI that can ensure that the company continues to grow its reefer business, through continued development and committed investments from a new owner. We have had a close relationship with CIMC, for more than 30 years and we look forward to continue that partnership.” Major refrigerated containers manufacturer Founded by A.P. Moller - Maersk in 1991, Maersk Container Industry (MCI) has been a part of the company for more than 30 years. Over the years, it has transformed into a business focusing entirely on manufacturing refrigerated containers and in 2020, the company delivered its most profitable result since its foundation. China International Marine Containers Ltd. (CIMC) wants to continue MCI’s trajectory of increasing sales and investing in new product development, and believe that bringing MCI into its group will allow it to do this. Maersk - CIMC partnership I look forward to welcoming MCI, as I am very impressed by the company’s results and innovation" Mai Boliang, the Chairman and Chief Executive Officer (CEO) of China International Marine Containers Ltd. (CIMC), said “By leveraging technology and innovation, we want to create a new growth platform within cold chain. I look forward to welcoming MCI, as I am very impressed by the company’s results and innovation.” Mai Boliang adds, “I am convinced that by combining MCI’s talented people and technologies, with our global refrigeration business, we will create an exciting future together, as a key partner for our customers.” Transaction details Star Cool will remain a key part of the way A.P. Moller - Maersk supports its customers’ cold chain needs, as Maersk will continue its cooperation with MCI in the future. The value of the transaction is USD 987.3 million on a cash and debt free basis (Enterprise Value). The agreement for CIMC to acquire MCI was signed on September 27, 2021, and is subject to regulatory approvals. The transaction is expected to close in or before 2022. Until closing, CIMC and MCI remain two separate companies and continue to run their businesses as usual.
Maersk. has appointed Mohit Bhatia as Senior Vice President and Head of Maersk Global Service Centres (GSC) effective 1st August 2021. Mohit previously held the position of Joint Managing Director, Maersk GSC, with responsibility for Finance before taking over the overall leadership including commercial and operations functions. Experience An industry stalwart, Mohit brings strong expertise of over 30 years in transforming and managing large companies across IT, banking and food & snacking sectors. Mohit is an accomplished Chartered Accountant and finance professional who is skilled in CFO responsibilities, business processes, re-engineering, global delivery, shared services, and business transformations including successful implementations of technology platforms and digital & robotic process automation. Mohit joined Maersk in 2019 and has since then demonstrated his strong strategic mindset, execution focus and leadership capabilities. Authority comment Mohit Bhatia has played a key role in the company andhe will now assume overall responsibility of Maersk GSC“Mohit Bhatia has played a key role in the company from his very first day and I am pleased that he will now assume overall responsibility of Maersk GSC. Along with his functional expertise in finance, Mohit brings a unique experience of leading large-scale transformations at similar capabilities centres which will greatly benefit our GSC-teams who are crucial in driving our ambition of becoming an integrated container logistics company, servicing our customers end-to-end digital products,” said Henriette Hallberg Thygesen, CEO, Fleet & Strategic Brands, A.P. Moller - Maersk. Revolution On his appointment, Mohit commented, “I am honoured to take over the responsibility of Maersk GSC at a time when the logistics sector is undergoing an important transformation. As an industry leader, we are fronting this transformation through a robust technology plan that, together with end-to-end connected processes, will enable us to become truly customer-centric.” GSC, an enabler of Maersk’s transformation The Maersk GSC plays a critical role in delivering customer outcomes and enables decision-making and prioritisation for Maersk based on its end-to-end process view. To enable Maersk’s vision of becoming an integrated container logistics company, Maersk GSC has locked down the following four themes as a part of its priorities: GSC’s direct contribution to customer experience outcomes, and support to Maersk’s overall growth agenda Drive best-in-class efforts to deliver cost and cash leadership for Maersk Drive process readiness to support future technology from a Digital, Platform and Data perspective Build a highly engaged workforce that is future-ready and a culture that supports Maersk’s Strategy About Maersk GSC With strength of more than 12,000 employees, Maersk GSC is spread across India (Bangalore, Chennai, Mumbai, and Pune), China (Chengdu) and the Philippines (Manila), with a small hub in Morocco (Tangier). Established in 1999, Maersk GSC’s competencies have grown in the last few years by being an integrated part of delivering strategic business growth. Maersk GSC teams interact with multiple stakeholders across A.P. Moller – Maersk to enable about 30 million touchpoints per year with over 59,000 customers. Management Maersk GSC delivers a better customer experience with a collaborative way of shaping outcomes Maersk GSC oversees not only the strategic execution of finance and commercial processes but also closely partners with the Technology teams based out of Maersk GSC. The GSC comprises some of the best minds in engineering, digital innovation, finance, commercial, operations, and information technology that develops innovative end-to-end solutions providing a best-in-class customer experience. Rapid transformation Maersk GSC has undergone a rapid transformation over the last few years through a journey undertaken by agile and self-managed teams that adapt and respond fast to the changes. The empowered and collaborative way of shaping outcomes has enabled Maersk GSC to build a framework that delivers a better customer experience while also creating the right environment for its employees to thrive.
A.P. Moller - Maersk. and Hyundai Mipo Dockyards have agreed on a contract for Hyundai Mipo to build a feeder vessel with a dual-engine technology enabling it to sail on either methanol or traditional very low Sulphur fuel. Maersk announced the intention to order the vessel, an industry first, on 17 February 2021. It will fly the Danish flag. Shipping Emissions “This groundbreaking container vessel shows that scalable solutions to properly solve shipping’s emissions challenge are available already today. From 2023 it will give us valuable experience in operating the container vessels of the future while offering a truly carbon neutral product for our many customers who look to us for help to decarbonise their supply chains,” says Henriette Hallberg Thygesen, CEO of Fleet & Strategic Brands, A.P. Moller - Maersk. Feeder vessel highlights Maersk supports the rising number of customers calling for carbon-neutral products The feeder will be 172 meters long and will sail in the network of Sealand Europe, a Maersk subsidiary, on the Baltic shipping route between Northern Europe and the Bay of Bothnia. The methanol propulsion configuration for the vessel will be developed by MAN Energy Solutions and Hyundai Engine and Machinery (main engine) and Himsen (aux engine) in collaboration with Hyundai Mipo and Maersk. The classification society will be the American Bureau of Shipping (ABS). Working with advanced technologies ”Developing this vessel is a significant challenge, but we have already come a long way in our work with the yard and the makers to reach this milestone. While we are pioneering these solutions for our industry, we are working with well-proven technologies and the cost potential from further scaling is becoming very clear to us,” says Ole Graa Jakobsen, Head of Fleet Technology, A.P. Moller - Maersk. Zero carbon targets More than half of Maersk’s largest customers have set – or are in the process of setting – ambitious science-based or zero carbon targets for their supply chains, making the order another important step in the Maersk efforts to support the rising number of customers calling for carbon-neutral products.
The Board of Directors of A.P. Moller - Maersk has decided to appoint Chief Technology & Information Officer (CTIO) Navneet Kapoor to the Executive Board with effect from 1 April 2021. The appointment is both a recognition of the role Technology plays for the transformation of A.P. Moller – Maersk, and the strategic leadership capabilities of Navneet Kapoor. Responsibility Navneet Kapoor leads the efforts to build competitive advantage from technology As CTIO, Navneet Kapoor leads the efforts to build competitive advantage from technology, a central element in the Strategy of the company. The company is in the middle of a multi-dimensional digital transformation that aims to build a new technology platform offering new digital products to our customers supported by standardised and automated processes across the company. Authority comments “Technology today is mission critical for A.P. Moller - Maersk and for our transformation. To succeed, we are investing in modern technology platforms with end-to-end standardised core processes. Navneet Kapoor has done an excellent job in accelerating this agenda since he took on the position as CTIO last year and brings unique and critical perspectives to our business transformation.” says Søren Skou, CEO of A.P. Moller - Maersk. Jim Hagemann Snabe, Chairman of the Board of A.P. Moller - Maersk adds, “We have turned an important corner in the ambitious transformation process that was initiated in 2016 with the aim of creating an integrated logistics company with growth and more stable profitability. A key pillar in our transformation is the use of technology to improve the interaction with our customer and build competitive advantage.” “The role of the CTIO is key to executing this next part of our strategy and having Navneet Kapoor joining the Executive Board is a recognition of the importance and impact of Technology and of his personal capabilities.” Executive Board consist of Søren Skou, CEO of A.P. Moller - Maersk Patrick Jany, CFO of A.P. Moller - Maersk Henriette Hallberg Thygesen, Executive Vice President A.P. Moller - Maersk and CEO of Fleet & Strategic Brands Vincent Clerc, Executive Vice President A.P. Moller - Maersk and CEO of Ocean & Logistics Morten Engelstoft, Executive Vice President A.P. Moller - Maersk and CEO for APM Terminals Navneet Kapoor, Executive Vice President and CTIO of A.P. Moller - Maersk Background of Navneet Kapoor Navneet Kapoor has been with Maersk since 2017 and has held various responsibilities Executive Vice President, Navneet Kapoor (50) has been with A.P. Moller - Maersk since 2017 and has held various responsibilities, including Chief Transformation Officer and Head of Global Shared Service Centres. Since February 2020, he has held the position of Chief Technology & Information Officer. Experience Prior to joining Maersk, Navneet Kapoor was Senior Vice President, Technology at Target Corporation, where he was instrumental in driving the digital transformation of the company, and before that, he also held various leadership roles in General Electric. Education Navneet has a Ph.D. in Chemical Engineering and an M.S. in Electrical Engineering from the University of Minnesota, USA, an MBA from the University of Chicago Booth School of Business, USA, and a B.Tech in Chemical Engineering from IIT Kanpur, India.
With A.P. Moller - Maersk as one of the collaborators, Copenhagen Infrastructure Partners (CIP) has unveiled plans for the establishment of Europe’s largest production facility of green ammonia. A.P. Moller - Maersk is on a quest to find the marine fuels of the future with green ammonia being one of three preferred fuel types. The Power-to-X facility located in Esbjerg on the Danish west coast will convert power from wind turbines to green ammonia. The green ammonia produced at the facility can be utilised by the agricultural sector as green fertilizer and by the shipping industry as a truly sustainable green fuel. Establishment of the facility A.P. Moller - Maersk along with Danish companies Arla, Danish Crown, DLG and DFDS has signed a memorandum of understanding, committing to work towards realising the establishment of the facility as well as supporting the off-take of the green ammonia from the facility once it is ready to be delivered to the market. Reducing shipping emissions Maersk has announced the first carbon-neutral vessel on the water by 2023 – seven years ahead of schedule “There is a very real sense of urgency in curbing shipping’s emissions, and we must develop scalable carbon-neutral fuels. Therefore, we welcome this project as an important development of green ammonia supply in the future,” said Henriette Hallberg Thygesen, CEO of Fleet & Strategic Brands, A.P. Moller – Maersk. “At A.P. Moller - Maersk we have announced that we will have our first carbon-neutral vessel on the water by 2023 – seven years ahead of schedule. This vessel will be running on carbon-neutral methanol. Nevertheless, we consider green ammonia as a promising option for marine fuels and a dual fuel engine for ammonia is under development. We are optimistic that ammonia, along with methanol and alcohol-lignin blends will be powering Maersk-vessels in the future,” adds Henriette Hallberg Thygesen. Project’s potential According to CIP, the project has the potential to reduce CO2 emissions by about 1.5 million tons - equivalent to removing 730,000 cars from the roads permanently. The facility is planned to start producing green ammonia in 2026. Copenhagen Infrastructure Partners (CIP) is the largest dedicated fund manager within greenfield renewable energy infrastructure investments.
Fast-tracked by advances in technology and increasing customer demand for sustainable supply chains, A.P. Moller - Maersk accelerates the efforts to decarbonise marine operations with the launch of the world’s first carbon-neutral liner vessel in 2023 - seven years ahead of the initial 2030-ambition. All future Maersk-owned new buildings will have dual-fuel technology installed, enabling either carbon-neutral operations or operation on standard Very Low Sulphur Fuel Oil (VLSFO). Achievable target Maersk is working on solving the practical, technical and safety challenges inherent in the carbon-neutral fuels “A.P. Moller - Maersk’s ambition is to lead the way in decarbonising global logistics. Our customers expect us to help them decarbonise their global supply chains, and we are embracing the challenge, working on solving the practical, technical and safety challenges inherent in the carbon-neutral fuels we need in the future. Our ambition to have a carbon-neutral fleet by 2050 was a moonshot when we announced it in 2018. Today we see it as a challenging, yet achievable target to reach,” says Søren Skou, CEO, A.P. Moller - Maersk. Maersk commitments on decarbonisation Around half of Maersk’s 200 largest customers have set – or are in the process of setting – ambitious science-based or zero-carbon targets for their supply chains, and the figure is on the rise. Maersk’s methanol feeder vessel will have a capacity of around 2000 TEU and be deployed in one of its intra-regional networks. While the vessel will be able to operate on standard VLSFO, the plan is to operate the vessel on carbon-neutral e-methanol or sustainable bio-methanol from day one. Rapid scaling of carbon-neutral fuels “It will be a significant challenge to source an adequate supply of carbon-neutral methanol within our timeline to pioneer this technology. Our success relies on customers embracing this groundbreaking product and strengthened collaboration with fuel manufacturers, technology partners and developers to ramp up production fast enough.” Maersk continues to explore several carbon-neutral fuel pathways and expects multiple fuel solutions “We believe our aspiration to put the world’s first carbon-neutral liner vessel in operation by 2023 is the best way to kick start the rapid scaling of carbon-neutral fuels we will need,” says Henriette Hallberg Thygesen, CEO of Fleet & Strategic Brands, A.P. Moller - Maersk. Both the methanol-fueled feeder vessel and the decision to install dual fuel engines on future new buildings are part of Maersk’s ongoing fleet replacement. CAPEX implications will be manageable and are included in current guidance. Strengthened collaboration to solve the challenges A carbon-neutral future for shipping requires innovation, test and collaboration across multiple industry partners. Maersk continues to explore several carbon-neutral fuel pathways and expects multiple fuel solutions to existing alongside each other in the future. Methanol (e-methanol and bio-methanol), alcohol-lignin blends and ammonia remain the primary fuel candidates for the future. A key collaboration partner is the Mærsk Mc-Kinney Møller Centre for Zero Carbon Shipping, an independent, non-profit research and development centre, that works across sectors, organisations, research areas and regulators to accelerate the development and implementation of new energy systems and technologies.