A.P. Moller – Maersk Group
The Maersk Group is one of the largest containership companies and is currently operating in around 130 countries, with a workforce of approximately 89,000 employees. While it is primarily a shipping company, it is also heavily involved in the oil and gas industry.
Peter Maersk Moller played an integral role in the transition from sail to steam during the nineteenth century. He was fourteen years old the first time he went to sea as a cabin boy. Peter eventually opened up a steamship business, which his son, A.P. Moller, took over in the late nineteenth century. A.P. Moller expanded the business to the United States in the early twentieth century, and eventually to Japan, the United Kingdom, Thailand, Hong Kong, and Indonesia.
The Maersk group now has an extensive fleet, several of which can transport more than 18,000 containers, or drilling rigs that can drill more than 39,000 feet into the earth. Maersk, as the largest customer on the Suez Canal, recently welcomed the planned expansion. Maersk has been taking advantage of the canal for over 90 years, and the new expansion will allow larger vessels to travel through the canal, benefiting both the Maersk Group and worldwide industries. Additionally, the expansion allows for quicker transit through the canal. Prior to the expansion, the southbound transit route took 18 hours while the northbound transit took 11 hours. After the expansion, both routes only take 11 hours, allowing for quicker transit.
Structure of the Maersk Group
While the Maersk Group may have its roots in the steamship industry, it now has five core businesses. These separate groups include Maersk Oil, Maersk Drilling, Trucking, Maersk Supply, Maersk Tankers, Towing/Emergency Response, APM Terminals, and Maersk Line. Their collective total for 2014 was $47.6 billion, with $5.2 million in profit. Out of every group, Maersk Line employees the most, at approximately 36,000 (nearly half of the total employee count for the Maersk Group).
Maersk is currently listed on the Copenhagen Stock Exchange, with approximately 83,000 shareholders.
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