SHARE
COPY LINK

MÆRSK

Russia seizes tugboats from Danish shipper Maersk

Russia has seized four tugboats belonging to a subsidiary of Danish shipping giant Maersk in Russia's far east, according to the group, which ceased operations in the country after Moscow's invasion of Ukraine.

Russia seizes tugboats from Danish shipper Maersk
Russia has seized four tugboats belonging to a subsidiary of Danish shipping giant Maersk. Illustration file photo: Jon Nazca/Reuters/Ritzau Scanpix

“On April 25th we were informed a local court has ordered the tugboats cannot leave Russia and also transferred custody of the tugboats to a third party,”
Maersk said in a statement on Wednesday.

The four vessels, owned by Maersk unit Svitzer, were operating on a long-term contract for the Sakhalin-2 oil and gas project in Russia’s far east.

Maersk tried unsuccessfully to divest the operation for a year before abandoning its efforts in mid-April and suspending its services.

But port authorities ordered the local crews and tugboats to continue to operate, before seizing the vessels, Maersk said.

“Since then, all (of) Svitzer’s employees in Russia have resigned, and Svitzer is no longer operating the four tugs,” Maersk said, describing the
situation as “untenable”.

“Efforts to resolve the matter are ongoing.”

In June, the Kremlin handed control of Sakhalin-2, in which Japanese companies hold stakes, to a Russian group.

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.

LEGO

Denmark’s Lego stacks up profit as it gains market share

Lego, the world's largest toy maker, said on Wednesday that its net profit grew 16 percent in the first half of the year as it gained ground in a slowing market.

Denmark's Lego stacks up profit as it gains market share

The Danish company said its first-half sales rose 13 percent to 31 billion kroner ($4.6 billion) while net profit rose to 6 billion kroner.

“This growth has been driven by the Lego Group taking a higher share,” chief executive Niels Christiansen said in an interview with AFP.

The group, best known for its plastic bricks and whose name is a contraction of “play well” in Danish (“Leg godt”), launched around 300 new products during the first half, while continuing to see higher revenue from franchises such as Star Wars and Harry Potter.

The company also recently announced that it was forming a partnership with Nike to develop products and content together.

Sales rose the strongest in Europe and North America, but were slower in China.

“We will continue to build the Lego brand in China, to open stores. The potential is there,” Christiansen said.

The company is controlled by the descendants of its founder and is not quoted on the stock market.

SHOW COMMENTS