A.P. Moller – Maersk has entered into an agreement, effective February 17, to divest its logistics sites in St. Petersburg and Novorossiysk to Cyprus-registered IG Finance Development Limited. Divesting the two sites is a consequence of the company’s decision made in March 2022 to discontinue activities in Russia, reflecting a collective effort of sanctions by western companies after the unprovoked Russian invasion of Ukraine on February 24, 2022.

“We are pleased to have found a new owner of our two logistics sites in Russia and thereby execute on our decision to divest all our assets in the country,” said Karsten Kildahl, Chief Commercial Officer of Maersk. “Throughout the divestment process, we have as a company felt a strong responsibility towards the remaining 50 employees at the two sites, and we are happy that they will be offered employment as part of the new setup.”

The inland depot in Novorossiysk is a facility of 28,750 m2 with a capacity of 1,500 containers (TEU) and specializes in handling commercial cargo such as grains from railway wagons to sea containers. The chilled and frozen warehouse in St. Petersburg is a 23,500 m2 established in 2020.

The transaction has obtained the needed regulatory approvals in the EU and Russia, and upon acquiring the facilities IG Finance Development Limited has made an agreement with Arosa, a large food importer in Russia, to operate the sites in St. Petersburg and Novorossiysk.

Maersk still needs to sell four tug boats under its Svitzer brand in order to complete a process of total withdrawal of business in Russia. Last May, Maersk discontinued its shipping services with Russia and in August sold its minority stake in Russian port operator Global Ports Investment to a domestic operator.

(Warehouse photo from Maersk)