Maersk is looking to offload its FPSO arm
LNG and FPSO arms made a profit of only $12m Maersk is said to be looking to offload its FPSO arm Maersk has been discreetly tapping the market for some months about a possible sale of its FPSO business, TradeWinds' sister publication Upstream said quoting an unnamed source.Talk of its FPSO business being no longer core for Maersk comes barely days after the Danish giant said it may sell its LNG shipping arm.The Danish company said it will go to the market to find a potential buyer for Maersk LNG because it wants to reallocate resources to other parts of the group.Quoting a rival FPSO contractor the newspaper said informal discussions have been held between Maersk and potential buyers.Maersk has been approached by interests that have been keen to look either at individual units in their fleet or the entire division, Upstream reported.Together, the LNG and FPSO arms made a profit of only $12m in the first quarter of 2011 and generated a rate of return of 1.8%, far below that of Maersks upstream and shipping businesses.Late last year Maersk brought in Stig Hoffmeyer as the new chief executive at its LNG and FPSO operations in a bid to turn ...
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