A.P. Møller - Mærsk A/S, the world's largest container company, said it will start looking for takeover targets outside the shipping industry to meet a growing need from clients, Jakob Stausholm, the company's CFO and head of transformation and strategy, told Bloomberg News in a Feb. 20 interview.
"We're currently very big in the ocean segment, and we'd rather grow in non-ocean, so it may be a good idea to look for M&A targets there," Stausholm said. The Copenhagen-based company currently commands 20% share of the container shipping market.
The CFO, however, declined to identify specific takeover targets in the land-based logistics chain. He added it may take some time before Maersk announces such acquisitions because the company still has to get its transport units work closely together.
He said starting 2018, Maersk will report revenue based on its ocean and non-ocean operations, with the latter to include logistic service activities and port terminals. In 2017, non-ocean revenue made up about 28% of Maersk's sales, said the Bloomberg report.
"It's clear that we are very small in that area," said Stausholm. "We'll see that non-ocean will grow."