Shipping and oil group AP Moeller Maersk A/S (CPH:MAERSK-B) is splitting into two to maximise the potential of its transport business.
Maersk said it will focus on transport and logistics, while listing or merging the oil business or hiving it off into a joint venture.
Analysts have said the fragmented industry is ripe for mergers and acquisitions and Maersk plans to take part in that, rather than expanding its shipping fleet.
The company also plans to try to cash in on the collapse of South Korean group Hanjin, having received an increase in business enquiries since the carrier sought bankruptcy protection.
It emerged on Thursday that Hanjin has secured a £41.5mln loan from its biggest shareholder, Korean Air Lines, to keep it afloat.
Analysts believe the separation of the shipping business from the oil operations is the right move, given the fall in oil-related business caused by lower crude prices.
The oil and oil-related businesses will be separated from the group either individually or in combination, it said.
Brokers say the move could trigger about US$600mln in savings for the shipping business over the next three years.
Previous chief executive Nils Smedegaard Andersen left in June after other executives disagreed with his opinion that Maersk should keep its conglomerate structure.
Story by ProactiveInvestors