Sealand, P&ONL names to go in bigger Maersk Line operation
Having bought the P&O Nedlloyd container business, A.P. Moller-Maersk said today it will no longer use the name “Sealand” nor 'P&O Nedlloyd' from next February, as it reverts to the name “Maersk Line” for its enlarged container shipping business.
Maersk Logistics will also absorb the activities of P&O Nedlloyd Logistics, whose name will disappear.
Maersk acquired Sea-Land Service in 1999, when it decided to market the combined activities under a joint name to try to retain the former American shipping line’s image and customers. The Danish group will keep the P&O Nedlloyd name only for a few months.
The Danish group said P&O Nedlloyd and Maersk Sealand “will continue to operate as separate shipping lines” until February.
Maersk faces a major task integrating the Maersk Sealand-P&O Nedlloyd businesses into a single container shipping arm and merging P&O Nedlloyd Logistics into Maersk Logistics.
“The full integration will be completed in stages and is expected to be completed by the end of 2006,” Maersk said.
The Danish group is expected today to complete the acquisition of Royal P&O Nedlloyd, the parent company of P&O Nedlloyd.
“All conditions to the offer have been fulfilled and payment for the tendered shares will be made today,” Maersk said.
Philip Green will resign as chief executive officer of Royal P&O Nedlloyd, to be replaced by Eric Sisco, managing director of Maersk Espa'a S.A. and area manager of Maersk’s Iberia and Morocco area.
However, Maersk said Green “will assist and work with A. P. Moller-Maersk A/S for a period during the integration.”
Maersk confirmed P&O Nedlloyd will soon give notice of withdrawal to several consortia and conferences.
The completion of the takeover also marks the disappearance of the last major British-owned and Dutch-owned container shipping lines, about six years after the United States saw APL and Sea-Land being acquired by Asian and Danish groups.