A.P.

MOLLER - MAERSK GROUP

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The A.P. Moller - Maersk Group is a worldwide conglomerate. We operate in some 130 countries and have a
workforce of some 115,000 employees. In addition to owning one of the world’s largest shipping companies,
we’re involved in a wide range of activities in the energy, logistics, retail and manufacturing industries. More
detailed information about all our business areas is available here.

Our management
The Executive Board handles day-to-day management and is responsible for our financial results and
business growth. The Executive Board consists of Group CEO and Partner Nils Smedegaard Andersen, Trond
Westlie, Jakob Thomasen, Claus V. Hemmingsen, Eivind Kolding and Søren Skou. Read more about our
management team here.

Our values
For more than 100 years, our deeply held values have governed the way we deal with our employees,
customers, and society in general. Our employees may come from every corner of the world, and we may
work in many fields and business areas, yet we all share the same set of basic values. See our values here.

Our heritage
Our Group was founded by Arnold Peter Møller in 1904. Following Arnold Peter Møller’s death in 1965, his
son, Mærsk Mc-Kinney Møller, assumed leadership of the group, which – thanks to initiative, foresight and
enterprise – has grown into a major international business. Read more about our background here.

HISTORY

1877-1909 Foundation

Shipowner A.P. Møller was born in 1876 into a family with many relations to the sea and to shipping. In 1895,
A.P. Møller started as a trainee with two of his father’s business contacts in Newcastle, England. Two years
later he moved to the East Prussian city of Königsberg – today Kaliningrad – and later to St. Petersburg,
working within exports and shipbroking.

In February 1904, A.P. Møller returned to Denmark to take up the post as manager of the chartering
department of C.K. Hansen, one of the major shipping and brokerage firms in Copenhagen of that time.

In April 1904, at the age of 28, A. P. Møller established, together with his father, Captain Peter Mærsk Møller,
A/S Dampskibsselskabet Svendborg (the Steamship Company Svendborg) and bought a second-hand vessel,
which was renamed SVENDBORG. The company had its first office in A.P. Møller’s childhood home “Villa
Anna” in Svendborg.
Shipowner A.P. Møller retained his job with C.K. Hansen while slowly building up the new business.

1910-1919 Own Establishment and New Ventures

The ambitious A.P. Møller, located in Copenhagen, did not always agree with the other board members in
The Steamship Company Svendborg. He therefore wished to form a new steamship company in which he
himself would have the final say and Dampskibsselskabet af 1912, Aktieselskab (the Steamship Company of
1912) was established with a board based in Copenhagen.

In 1913, A.P. Møller terminated his position with C.K. Hansen and established his own firm with offices in
Copenhagen’s venerable Stock Exchange.

During the First World War A.P. Møller managed the Shipping Companies cautiously and with constant care,
and both of them had strengthened their positions at the end of the war.

Mærsk Mc-Kinney Møller

A.P. Møller and his American born wife Chastine had four children. Mærsk Mc-Kinney Møller was born in 1913
and would eventually take over the leadership of the A.P. Moller – Maersk Group from his father.

Odense Steel Shipyard

From 1918 A.P. Møller took a long lease of roughly 15 acres and also bought an adjoining piece of land by
the Odense Canal from the Odence City Council. Here he established by own means a newbuilding shipyard
with two building berths.
The first six newbuildings from the Yard were all steamships, of which the first was delivered on 26 May
1920, but already in 1921 the first motor vessel was delivered. The business was doing well, and a third
building berth was added in 1924-1926. In 1927 the Yard delivered its first tanker.
1920-1929 Liner Shipping and the Tanker Trade

From Tramp Trade to Liner Shipping

Already at the beginning of the 1920s A.P. Møller considered the possibilities of going into the liner business.
The tramp trade, where vessels sailed from port to port depending on the demand, was anticipated to lose
ground to liners in time and, moreover, participation in liner services was in keeping with Mr A.P. Møller’s
policy on investment and risk diversification.

This of course required careful consideration and thorough preparation – and a favourable agreement. Such
an agreement was entered into with the Ford Motor Company, and on 14 July 1928 the m.s. LEISE MÆRSK
left Baltimore on its first voyage between the American east coast via the Panama Canal to the Far East and
back. The cargo consisted of Ford car parts and other general cargo.

Today, Maersk Line is one of the world’s leading liner shipping companies.

The first Tanker Vessels enter the Maersk Fleet

As the industrial society became increasingly dependent on stable oil supplies, the need for tankers
increased. A.P. Møller’s interest in this new business area increased as the company saw the possibility of
not only increasing but also stabilising earnings.
Having concluded a number of time charter deals for several years, the Shipping Companies’ first tankers
were contracted, all of them for delivery in 1928.
Two of the five tankers were built at the Copenhagen Floating Dock and Shipyard (completed by Burmeister
& Wain in Copenhagen) and the last three at Odense Steel Shipyard.
1930-1939 Consolidation of the Business

Mærsk Mc-Kinney Møller

Having graduated from school, Mærsk Mc-Kinney Møller took up trainee positions with various companies
within shipping, brokerage and banking in Denmark, Great Britain, France and Germany. Mærsk Mc-Kinney
Møller returned to his father’s firm in 1938 and became a member of the board of The Steamship Company
Svendborg in 1939.

Consolidation
Compared to its Danish counterparts, the Maersk fleet enjoyed faster growth than any other between the
two great wars, and by 1939 it accounted for about one-fifth of Denmark’s merchant fleet. The expansion
was almost entirely made up of new motor-powered vessels, a large number of which were built at A.P.
Møller’s own shipyard in Odense.
1940-1949 Operation in Wartime

Occupation and Departure

When the German troops invaded Denmark on 9 April 1940, 36 of the Maersk fleet’s vessels, all of them
large tankers and liners, were away from Danish waters and therefore outside A.P. Møller’s control.

The evening before the invasion A.P. Møller’s senior staff met “to go through the entire fleet, every voyage of
every ship, its freight commitment, the charter party and bill of lading, and see what instructions it would be
appropriate to give each individual ship”. The outcome was “PERMANENT SPECIAL INSTRUCTION ONE”,
which was sent out to all vessels.

It was endeavored to carry on the activities of the company from Copenhagen, but due to difficulties with
communication among other things, it was decided that Mærsk Mc-Kinney Møller was to go to the USA to
manage the activities. Emma and Mærsk Mc-Kinney Møller were married on 22 May 1940, and two days later
Mærsk Mc-Kinney Møller was taken on as partner in the Firm of A.P. Møller. Already on 10 June the couple
arrived in New York, and it took more than seven years before they returned to Denmark. In co-operation
with other Danish shipowner representatives in the USA, Mærsk Mc-Kinney Møller attempted to employ the
Danish vessels, until the American Government took command of them in June 1941. After that he was
mainly engaged in preparations for peacetime.

In 1943 Mærsk Mc-Kinney Møller established Interseas Shipping Co., Inc., which shortly after changed its
name to first Moller Shipping Company and later Moller Steamship Company. The company, which in 1946
became agent for Maersk Line in the USA, laid the groundwork for the present Maersk Inc.

First Liner Services after the Second World War

After the cessation of hostilities in 1945, the priority for A.P. Møller was to get their vessels moving again,
before competitors captured the market. The Maersk fleet had been badly hit by many losses during the war,
and the remaining vessels – of which some had still not been returned – were run-down. Furthermore, the
Shipping Board’s demand for duty voyages delayed the resumption of own activities.
Despite these obstacles and a necessary reorganisation of the Maersk Line organisation, A.P. Møller
succeeded, as early as March 1946, in resuming the monthly sailings on the so-called Panama Line from the
American east coast via the Panama Canal to the Far East. CHASTINE MÆRSK made Maersk Line’s first
voyage after the Second World War with departure from New York on 16 March 1946 and called at Manila,
the Philippines and Shanghai, China.

Gradual Takeover of Responsibilities

When the 34-year-old Mærsk Mc-Kinney Møller returned to Denmark in November 1947 after seven years in
the USA, he relieved A.P. Møller of a great deal of work. In his father’s later years he took over an
increasingly large share of the daily management responsibilities in the Shipping Companies and affiliated
companies, and a distribution of the responsibilities was agreed between father and son.
According to the original agreement A.P. Møller maintained the main responsibility for the Shipping
Department (which operated the trampers), Tankers, Newbuildings, Purchase & Sales, appointment of
captains as well as the financial, fiscal and monetary affairs.
Mærsk Mc-Kinney Møller took over the responsibility for the daily supervision of the Ship Inspection, Engine
Inspection, conversions, Chartering Department, insurance affairs, internal audit, Line Department and the
contact to associated companies, among other things.

1950-1959 Expansion

The A.P. Møller and Chastine Mc-Kinney Møller Foundation

The Foundation was established on 26 May 1953 by Mr. A.P. Møller and the present chairman of the board is
his son, Mr. Mærsk Mc-Kinney Møller.
The Foundation aims to support Danish culture and heritage, Danish shipping and medical science. Only
occasionally, grants are made to non-Danish projects. Some examples of major donations from this
Foundation are:

• THE OPERA, Denmark’s new opera house at the Copenhagen waterfront (2004).

• The establishment of The Mærsk Mc-Kinney Møller Institute for Production Technology at the
University of Southern Denmark, Odense (1997).

• The restoration of the 17th century Citadel of Copenhagen (1989 and 1999).

• The establishment of The Maersk Mc-Kinney Møller Centre for Continuing Education at
Churchill College, Cambridge, United Kingdom (1992).

• Several donations to medical science in Denmark and abroad.

The main Shareholder

Upon the death of Mr. A.P. Møller in 1965, the Foundation became the principal shareholder in the two
steamship companies, Aktieselskabet Dampskibsselskabet Svendborg (the Steamship Company Svendborg)
and Dampskibsselskabet af 1912 Aktieselskab (The Steamship Company of 1912) – today A.P. Møller –
Mærsk A/S - with the purpose of keeping the companies on Danish hands.
A new Shipyard
After the Second World War the development of vessels tended towards larger units, especially tankers. The
capacity of the yard facilities in Havnegade at the Odense Canal was limited to vessels of about 45,000 dwt,
and in 1956 the Yard’s managing director outlined a plan for a new yard to be located on a site with potential
for unlimited expansion.
In 1957-1959, at Lindø on the east side of Odense Fjord, two building docks with a capacity of 200,000 dwt
were constructed, together with a fitting-out berth. Among the other buildings was a welding hall which
alone covered an acre and a half. The new yard facilities were inaugurated on 23 November 1959 by Prime
Minister H.C. Hansen, and parallel to this production continued on the old yard in Odense, from which the
last vessel was delivered in 1966. Until 1980, ship’s sections were still manufactured in Havnegade.

Increased Capacity and Innovation

At Lindø the capacity was increased in 1969 with the establishment of a dry dock, in which vessels of up to
650,000 dwt could be constructed. At the same time, a gantry crane was erected, the largest in Europe at
the time. Lindø’s latest newbuildings, including the world’s first double-hulled supertankers and a series of
the world’s largest container vessels, are the result of advanced production technique and the use of high-
tech production equipment. It has been decided to cease shipbuilding at Lindø when the last vessels on
order have been delivered in 2012.
1960-1969 New Activities: Oil, Off-Shore and Retail

A.P. Møller 1876-1965

Shipowner A.P. Møller died in 1965 at the age of 88, and his son Mærsk Mc-Kinney Møller took over the
management of the A.P. Moller Group.
A.P. Møller and the Danish Oil
The story about of A.P. Møller and the Danish oil falls into four phases:

The first phase took place in the years 1960-1963 when A.P. Møller decided to apply for a concession for oil
exploration in Denmark. The formation of Dansk Undergrunds Consortium (DUC), the establishment of Dansk
Boreselskab (the present Mærsk Olie og Gas AS), award of the concession and since then the extension of
the concession area with the Danish North Sea shelf laid the groundwork for the further development.

In the second phase from 1963-1973 the attention was increasingly directed towards the North Sea where
the delimitation of the shelf area was implemented. DUC made its first discovery in the Danish sector of
North Sea, and the Dan Field came onstream in the summer of 1972.

The years with high oil prices, 1973-1985, constitute the third phase where DUC implemented an extensive
development of the production system on the Danish North Sea fields and entered into a major gas sales
agreement with the Danish State which, on the other hand, made extensive cuts in A.P. Møller’s concession.

The fourth phase set in from 1985 when oil prices began to plunge. That triggered off technological
innovation, which has formed the basis of the significant progress for both DUC and its operator Mærsk Olie
og Gas AS since then.

The efforts made by the Partners in DUC since 1962 has had a positive effect on the Danish society. The
activities have prepared the grounds for a new Danish industry, created jobs, made Denmark self-sufficient
in oil and gas, given a positive effect on the balance of payments, resulting in billion revenues in the form of
taxes and royalties to the Danish state.

Besides the North Sea, Mærsk Olie og Gas AS today participates in oil production in Qatar, Algeria and
Kazakhstan. Exploration activities are carried out in the North Sea, North Africa, Central Asia, the Middle East
and South America.

Establishment of Dansk Supermarked

The retail arm of the A.P. Moller – Maersk Group, Dansk Supermarked A/S was established in partnership with
F. Salling A/S.
At the death of Ferdinand Salling in 1953, his son Herman Salling took over the management of F. Salling
A/S. Having finished a trip around the world to gather inspiration and new ideas, he decided to stake on
department stores, stores and supermarkets by chain operation.
In 1960 Jysk Supermarked was established, and the same year the first Føtex store opened. Føtex was a
completely new type of store in Denmark and was based on the vision of being able to purchase foodstuffs,
hardware and textiles under the same roof.
Herman Salling aimed to gain a broad foothold in Denmark, and therefore he began the search for a partner
who would be able to inject additional capital. Having negotiated with several parties, he found the right
partner in 1964: Herman Salling entered into an agreement with A.P. Møller, resulting in the establishment of
Dansk Supermarked A/S.

Work Horses of the Sea

In 1962 A.P. Møller and the Shipping Companies were awarded the concession for exploration for and
recovery of raw materials in the Danish subsoil. Among other things, the following years’ activities required
the establishment of a supply service between onshore and the rigs that carried out the practical exploration
at sea.
As is the case today, the exploration activities were handled by Dansk Undergrunds Consortium (DUC), and
A.P. Møller submitted in line with other shipping companies an offer for the supply services. As A.P. Møller
won the contract, a new business area was added to its activities.
Today, the fleet of supply vessels that serves the offshore oil and gas industry includes more than 60
purpose-built vessels.
1970-1979 Oil Production and Container Vessels

The First Danish Oil came to Denmark

On 4 July 1972 Dansk Undergrunds Consortium (DUC) initiated the first Danish oil production. The event
took place on the Dan Field, 200 km west of Esbjerg. In the presence of Minister of Commerce Erling Jensen
and shipowner Mærsk Mc-Kinney Møller among others, HRH Prince Henrik honoured DUC by opening the taps
that allowed the oil to flow ashore.

In competition with other shipping companies A.P. Møller had won a contract for transport of the crude oil
from Dan, and it was thus the Danish built tanker MARIE MÆRSK which, on 1 August 1972, could bring the
first Danish oil ashore to the Gulf refinery at Stigsnæs.

Nearly 12 years had passed since A.P. Møller in the national interest had undertaken a venture whose
commercial possibilities at first seemed extremely limited. Having overcome many challenges and invested
around half a billion Danish kroner, the Concessionaires and the DUC Partners now received the first small
repayment of their efforts.

Maersk Drilling
The presentation of the new activity in Mærsk Post, the A.P. Moller - Maersk Group’s internal magazine, went
like this:

“This company will hire out drilling rigs to companies engaged in oil exploration.Three drilling rigs – two so-
called semi-submersibles and one jack-up – have been ordered. The two first mentioned will be operated by
Storm Drilling Corporation, Houston – competent people with whom we have a close working relationship –
the third rig will be operated by us in co-operation with our American subsidiaries, and we mainly aim at
employment on the Danish North Sea shelf”.

Today, Maersk Drilling operate an advanced and diversified fleet within drilling, floating production and
storage.

Container Vessels on Maersk Line

The transition to modern container transport called for heavy investment, and after several years’
consideration all major liner shipping companies began to make the first preparations in the middle of the
1960s.

A.P. Møller’s thoughts on an independent container trade were discussed by successive task groups, and in
the spring of 1973 it was decided to place an order for nine fast container vessels for delivery in 1975-1976.
This marked the beginning of one of the largest projects in the history of the A.P. Moller – Maersk Group:
More than DKK 2 billion was soon invested in vessels, terminals, containers, edp, marketing and sale of this
new service.

As the first of the new container vessels, ADRIAN MÆRSK departed from the Maersk Line terminal in Port
Newark, New Jersey, USA on 5 September 1975.

Today, the container business in A.P. Møller - Mærsk A/S consists of the global business units Maersk Line,
Damco and APM Terminals as well as a number of local transport and container repair companies.

Door-to-Door Transport
With containerisation of the liner services in the 1970s, the need for specialised loading (consolidation) of
containers to attain higher utilisation of available container space increased. This stimulated the need for
improved information and documentation flow, which led to the establishment of Damco, originally called
Mercantile and later Maersk Logistics.
During the 1980s, other services were introduced in order to manage supply chains from cargo origin to the
stores. Today, Damco’s services include an LCL programme, preparation of freight papers, airfreight as well
as warehousing and distribution. Advanced information technology is used for managing the supply chain
and keeping customers informed.
1980-1989 Container Vessels from Own Shipyard and Gas Production

A new Generation of Container Vessels

The Maersk Line service between USA and The Far East was containerized in 1975. Now the time had come
to introduce this service on the Europe-line, the internal nickname for the Far East-Europe line. The new
vessels made the voyage between Singapore and Hamburg in only 17 days, which was the fastest transit
time on the market, and to the advantage of our customers, the schedule was prepared for arrivals and
departures on fixed dates and fixed hours.
The new container vessels were the first to be delivered from Odense Steel Shipyard, a part of the A.P. Moller
– Maersk Group, in 1980. The series of nine container vessels was planned to have a capacity of 1,800 TEU,
but the last vessels were enlarged to meet market demand.

Car Carriers in the Maersk Fleet

In October 1980 MAERSK WAVE was delivered, and in January 1981 her sister vessel MAERSK WIND followed.
These vessels were the first “real” car carriers in the Maersk fleet – but the Company already had wide
experience in the transport of cars.

In 1969 A.P. Møller took delivery of two bulk carriers, which functioned as car carriers for a number of years.
In co-operation with the East Asiatic Company a number of voyages were made during the 1970s, where cars
were transported from Japan on special between-decks in the holds of the vessels. The export went to West
Africa, especially Nigeria, from where returned goods, e.g. grain, were loaded.

BELLA MÆRSK and BRIGIT MÆRSK, the two bulk carriers, had, however, the limitation that only passenger
cars could be loaded. In time the transport requirements changed to larger cars, and A.P. Møller wanted to
match the market with the new specially designed car carriers.

Gas Production in the Danish North Sea

More than DKK 10 billion and over eight million working hours distributed on about 20,000 people were
invested in the realisation of the new gas production system, with the Tyra Field as its centre – Denmark’s
largest and probably most distinct industrial complex so far.

Actual gas production commenced on 31 May 1984 when a well was opened on Tyra West and gas flowed
into the facilities so as to allow the systems to be tested and trimmed. On 1 July the filling of the pipeline to
shore began to test DONG’s (Dansk Olie & Naturgas A/S) facilities at Nybro before the commencement of
delivery, which already in 1979 had been agreed to take place on 1 October 1984.

On this day Prime Minister Poul Schlüter honoured Dansk Undergrunds Consortium (DUC) by making the
official opening of deliveries by pressing the start button in the control room on Tyra East. A new era in the
history of Danish energy supply had begun.

A new Member of the A.P. Moller Group

On 1 March 1985 Norfolk Line became a member of the A.P. Moller Group. At the time of the acquisition the
company was mainly engaged in transport between Great Britain and the Netherlands, Germany and
Belgium.
Norfolk Line’s history dates as far back as 1946 when the company began as exporter of agricultural
products from the Netherlands. In 1960 the activities were so wide-ranging that it was decided to establish
own shipping company to transport the company’s cargo. The nature of the activities changed in 1969 when
the company took delivery of its first roll-on/roll-off ferry, DUKE OF HOLLAND, and in the course of four years
an additional two were added. In 1973 the founder sold his company to Unilever from which A.P. Møller
acquired it in 1985.
1990-1999 Safe Transport of Oil in Double-Hulled Tankers

Container Production
Maersk Container Industri AS was established in early 1990 with the purpose of designing, producing and
marketing ISO containers of a superior quality and competitive lifetime cost for the customers.

Maersk Container Industri AS' first container factory was inaugurated in Tinglev 1991, Denmark, initially for
dry containers, and in 1995 the site was expanded with a new building for the manufacturing of reefer
containers of a unique design.
Today, production has been moved to two Maersk Container Industri container factories in Qingdao and
Dongguan, China.

A new Generation of Tankers

The world’s first double-hulled supertanker was named on 1 December 1992 at the Lindø Yard. This event
marked the setting of new standards within the shipping industry by A.P. Møller and Lloyd’s Register of
Shipping.
The vessel was the first in a series of six with a new double-hulled construction developed to ensure the best
possible protection against pollution in case of grounding or collision. ELEO MÆRSK was designed to
transport more than 300,000 tons of crude oil at a time.
ELEO MÆRSK was sold in 2004.

New Day-to-Day Manager of the A.P. Moller Group

30 June 1993 was a red-letter day in the history of the A.P. Moller Group. This day was Mærsk Mc-Kinney
Møller’s last day as day-to-day manager after more than 60 years in A.P. Møller; the last 28 years as day-to-
day manager and Chairman of the two Shipping Companies.
Mærsk Mc-Kinney Møller remained Chairman of the Foundations, Shipping Companies and Odense Steel
Shipyard Ltd. Jess Søderberg took over the daily management of the A.P. Moller Group, assisted by Partners
Ib Kruse and Per Jørgensen.

Danish Oil Production in the Middle East

In 1992, Maersk Oil entered into a partnership agreement with Qatar Petroleum on behalf of the Government
of Qatar on recovery and production of oil. According to the agreement Maersk Oil was to evaluate the
possibility of establishing commerical oil production off Qatar.
The drilling of appraisal wells in the Al Shaheen Field, of which two had set a world record in horizontal
drilling at the time, was completed in 1994. The same year oil production from the fields was initiated.
During the period 1996-99, Maersk Oil drilled several wells in the Al Shaheen Field and thus increased the
world record with horizontal wells to 20,900 feet (6.4 km). Since, the Al Shaheen Field has been further
developed.

World Record Container Vessels

From the Group’s shipyard at Lindø, Maersk Line received two series of records breaking container vessels in
1996 and 1997. REGINA MÆRSK had a capacity 6,000 twenty-foot containers and SOVEREIGN MÆRSK
delivered a year later had a capacity of 6,600 TEU. Both were so-called post-panamax vessels, meaning that
their size did not allow them to sail through the Panama Canal.

Two large Acquisitions to Maersk Line

In 1999, Maersk Line significantly increased its market presence by acquiring first Safmarine Container Lines
and later the international container business of Sea-Land Service Inc.
All parts of both businesses were integrated with the A.P. Moller group companies, where it naturally
belonged, commercially and geographically.
2000-2009 New Leadership and Increased Growth

Merger to Form A.P. Møller – Mærsk A/S

In 2003, the original shipping companies, Svendborg and 1912, were merged to form A.P. Møller – Mærsk
A/S, with the objective of obtaining a more manageable organisational structure.

Mærsk Mc-Kinney Møller retired

Mærsk Mc-Kinney Møller retired as Chairman of the Board of A.P. Møller - Mærsk A/S on 15 December 2003
and simultaneously retired from the Board.

Michael Pram Rasmussen was elected as new Chairman of the Board of Directors of A.P. Møller - Mærsk A/S
with effect as of that same date.

Mr. Møller remained Chairman of The A.P. Møller and Chastine Mc-Kinney Møller Foundation and Chairman of
Odense Steel Shipyard Ltd., and remained a partner of Firmaet A.P. Møller.

World Record Breaking Drilling Rig

Maersk Drilling took delivery of MÆRSK INNOVATOR, the world’s largest and most advanced jack-up drilling
rig.
The new jack-up drilling rig lives up to its name ’innovator’. MÆRSK INNOVATOR is thus unique in many
ways. Compared to a traditional jack-up, the first thing you will notice is that the lay-out of the deck has been
changed. The accommodation unit is divided into two sections, which are folded around the front leg as a
large V. This releases space on the deck which, with its 2,500 m², is twice as large as on a traditional rig.

With its 205 m long legs, MÆRSK INNOVATOR can operate all year at water depths of up to 150 metres in the
North Sea and other areas with a corresponding harsh environment. This was over 25 metres more than the
existing record for jack-up rigs held by another Maersk rig, MÆRSK GALLANT.

Maersk Line growing by Acquisition

On 11 August 2005 the A.P. Moller - Maersk Group took over all activities in Royal P&O Nedlloyd N.V., which
was the result of a merger between British P&O Containers and Dutch Nedlloyd Lines in 1996 and a number
of subsequent acquisitions.

Maersk Oil Increases Production by Acquisition

With effect from 1 July 2005 A.P. Møller - Mærsk A/S’s subsidiary, Mærsk Olie og Gas AS (Maersk Oil) acquired
the majority of Kerr-McGee’s UK oil and gas interests.
As part of the acquisition Maersk Oil took over a staff of more than 500.
Maersk Oil acquired interests in ten producing fields, five of which as operator. The total share of production
was some 60,000 barrels oil equivalent per day. In addition, a number of smaller oil and gas discoveries as
well as an exploration portfolio were acquired.
Our Values
Our values are a set of fundamental shared beliefs. They are closely linked to
our founder, Mr Arnold Peter Møller, and his son, Mr Mærsk Mc-Kinney Møller,
and they form our guiding principles for behaviour, decisions and interaction.
Guiding everything we do, our values apply to all our employees – whether in
Beijing, Kazakhstan, Honduras or elsewhere – and they play a critical role in
how we work and in our continued success.
Our values are:
Constant Care
Take care of today, actively prepare for tomorrow
Humbleness
Listen, learn, share, and give space to others
Uprightness
Our word is our bond
Our Employees
The right environment for the right people
Our Name
The sum of our values: passionately striving higher

Management
Nils S. Andersen
Partner and Group CEO, A.P. Moller - Maersk
Partner since: 2007
Joined A.P. Moller - Maersk: 2007
Born: 1958

Nils S. Andersen joined A.P. Moller - Maersk in 2007 when he took over as the fourth Group
CEO and Partner. Up till then, he had been on the Board of Directors (since 2005).

Before joining A.P. Moller - Maersk, Nils S. Andersen held the position of CEO of Carlsberg
A/S (since 2001). Before that he held a number of senior positions both internationally and in
Denmark.

Nils S. Andersen graduated with a MSc in Economics from Aarhus University in 1982.

Nils S. Andersen is a member of ERT European Round Table of Industrialists (since 2001), Co-
Chairman of EU-Russia Industrialists’ Round Table (IRT) (since 2007).
Jakob Thomasen
CEO of Maersk Oil
Member of the Executive Board since: August 2009
Joined A.P. Møller: 1988
Born: 1962

Jakob Thomasen joined Maersk Oil in 1988 as a Geologist at the company’s headquarters in
Copenhagen. In 1996, he was promoted Senior Geologist and later the same year he was
stationed in Qatar as a Department Manager. In 2000 Jakob Thomasen was called back to
Copenhagen to head a North Sea technical centre within Petroleum Engineering.
Jakob Thomasen returned to Qatar in 2004 as Managing Director where he was instrumental in
the success of the large scale development of the Al Shaheen oil field. In the beginning of 2009,
following organisational changes in Maersk Oil, Jakob Thomasen was repositioned in the
Copenhagen office as Head of Exploration and New Business.
In August 2009 Jakob Thomasen was appointed CEO of Maersk Oil.

Prior to his employment with Maersk Oil, Jakob Thomasen worked with the Geological Survey
of Denmark and Greenland.

Jakob Thomasen has a Master’s degree in Geology and has participated in courses in finance and
accounting. His educational background was further expanded in 1997 when he completed the
General Management for Specialists programme at Cranfield in the UK and again in 2002 when
he attended courses in Managing Corporate Resources at IMD.
Claus V. Hemmingsen
Partner and CEO of Maersk Drilling and Maersk FPSOs
Partner since: July 2007
Joined A.P. Møller: 1981
Born: 1962

Claus V. Hemmingsen is Partner, member of the Group’s Executive Board and CEO of Maersk
Drilling. In addition, Claus V. Hemmingsen has overall responsibility for Maersk FPSOs,
Maersk LNG, Maersk Supply Service and SVITZER A/S.

Claus V. Hemmingsen joined the A.P. Moller - Maersk Group in 1981 as a shipping trainee, and
after having completed his shipping education he joined Maersk Drilling’s Human Resource
Department.

After being stationed in Hong Kong for Maersk Line (1992-1997) and in Singapore (1997-2000),
Claus V. Hemmingsen returned to Hong Kong in 2000 where he as Managing Director had the
overall responsibility for A.P. Moller - Maersk’s activities in the Hong Kong SAR.

In 2003, Claus V. Hemmingsen returned to the head office in Copenhagen as Senior Vice
President responsible for the container activities’ Global Service Delivery, including Global
Shared Service Centres. He simultaneously held responsibility for APM Terminals until June
2004, before taking over responsibility for Maersk Drilling and Maersk Supply Service in 2005
and for SVITZER A/S in 2008.

Claus V. Hemmingsen has supplemented his education with management courses at London
Business School and Cornell University and finalized an Executive MBA (honours) at IMD in
November 2007.
Eivind Kolding
Partner and CEO of the Container Business
Partner since: July 2006
Joined A.P. Møller: 1989
Born: 1959

Eivind Kolding was appointed partner of the firm A.P. Moller 1 July, 2006, and same time CEO
of the Container Business of the A.P. Moller - Maersk Group. He is member of the Group’s
Executive Board.
Before this he was, since 1998, Chief Financial Officer of the A.P. Moller - Maersk Group.
He joined the company in 1989 as lawyer in Corporate Secretariat, Copenhagen, and was later
appointed Senior Vice President and head of the Secretariat. In 1996 he became Managing
Director of Maersk Hong Kong Ltd., where he stayed for 2 years.
Eivind Kolding graduated as MA, Law in 1983 from Copenhagen University and was as a
lawyer admitted to the bar in 1986.
Eivind Kolding is also vice-chairman of the Board of Danske Bank.
Søren Skou
Partner and CEO of Maersk Tankers
Partner since: July 2007
Joined A.P. Møller: 1983
Born: 1964

Søren Skou is Partner and member of the Group’s Executive Board and has since 2001 been
CEO of Maersk Tankers in Copenhagen, which includes A.P. Moller - Maersk’s activities within
crude oil-, product- and gas tankers. In addition Søren Skou has the overall responsibility for the
Group’s Ro/Ro activities in Norfolkline and share in Höegh Autoliners as well as the logistics
and forwarding business Damco.
Furthermore, Søren Skou has the overall responsibility of Maersk Ship Management, Maersk Oil
Trading and Maersk Procurement.

Søren Skou joined the company as a shipping trainee and has been stationed in the USA and
China and has supplemented his education with a Graduate Diploma in Commerce (HD) from
Copenhagen Business School and has an MBA (honours) from IMD.
Trond Ø Westlie
Group CFO, A.P. Moller - Maersk
Joined A.P. Moller - Maersk: 2010
Born: 1961

Trond Ø. Westlie joined A.P. Moller - Maersk in 2010 as Group CFO and member of the
Executive Board.
Trond Ø. Westlie came from a position as Executive Vice President and Chief Financial Officer
of the Telenor Group. Previously, he was Group Executive Vice President and Chief Financial
Officer of Aker Kvaerner ASA from 2002-2004, and Executive Vice President and CFO of Aker
Maritime ASA from 2000 to 2002.

Trond Ø. Westlie qualified as a State Authorised Public Auditor from Norges Handelshoyskole
(the Norwegian School of Economics and Business Administration) and has served on numerous
corporate boards.

Trond Ø. Westlie is a member of the Board of the Acergy S.A. and of the Mesta Konsern as.

Business areas
Container shipping &
Related

Maersk Line
Damco
Maersk Container
Industry
Safmarine
MCC Transport

Tankers, Offshore &

Related

Maersk Tankers
Maersk Drilling
Maersk FPSOs
Maersk Supply Service
Maersk LNG

Terminal activities

APM Terminals

Oil & Gas activities

Maersk Oil

Retail & Other

Dansk Supermarked
Odense Steel Shipyard
Svitzer

Technology

Maersk Fluid
Technology
Maersk Maritime
Technology

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Headquarters
A.P. Møller - Mærsk
A/S
Esplanaden 50
1098 Copenhagen K
Denmark
Tel +45 3363 3363
Fax +45 3363 4108

MAERSK LINE

Company facts and information

Maersk Line is the core liner shipping activity of the A.P. Moller – Maersk Group, and the
leading container shipping company in the world. The Maersk Line fleet comprises more than
500 vessels and a number of containers corresponding to more than 1,900,000 TEU (Twenty foot
Equivalent Unit – a container 20 feet long). This ensures a reliable and comprehensive coverage
worldwide.

What is container shipping?

Containerisation is a global system of intermodal cargo transport using standardised containers,
which can be loaded and sealed intact onto container ships, railroad cars, planes and trucks. Prior
to the introduction of containers, cargo handling for sea transportation was both time consuming
and expensive. Containers have changed that fundamentally. Transport is now safer and more
affordable than ever before.

World trade would not be the same without the modern container, invented in 1956. Today, it
carries more than 90 percent of all goods in world trade. Every commodity and type of goods can
be loaded and carried in ‘the box’, as the container is often referred to. As a result, modern
container shipping has changed the way we transport goods around the world and has played a
key role in globalisation.

• A single 20-foot container can hold about 48,000 bananas. So, in theory, a
PS-vessel such as the EMMA MAERSK can transport approximately 528 million
bananas in a single voyage - enough to give every person in Europe or North
America a banana for breakfast.
 • If all Maersk Line containers were placed one after the other, they would
reach about 19,000 km. This is more than the distance from Copenhagen,
Denmark to Perth, Australia, via Cape Town, South Africa or almost half of the
earth's circumference or almost three times the earth's radius.
• If all the Maersk Line containers were stacked on top of each other they
would reach approximately 2,500 kilometres high, equivalent to stacking
8,550 Eiffel Towers on top of each other.
• At any one point in time, Maersk Line is transporting cargo worth
approximately three percent of the world's GNP (world GNP in 2005: USD
36,356,240,000,000).
• In 2009, Maersk Line vessels will make around 35,000 port calls - equivalent to
approximately four port calls per hour or one call every 15 minutes.
Maersk Line at a glance
Organisation

• Employees: about 16,900 and 7,600 Seafarers.

• Number of representations: about 325 offices
• Located in: more than 125 countries
Financial information

Maersk Line is a division of the A.P. Moller – Maersk Group.

Annual report 2008

Container shipping and
related activities
(USD million)

Net revenue Net result

2008 2007 2008 2007

28,666 25,821 205 106

Interim report 2008

Container shipping and
related activities
(USD million)
1st half year

Net revenue Net result

2008 2007 2008 2007

14,038 12,179 73 -219

For the latest financial reports and more information visit A.P. Moller – Maersk Group’s website
maersk.com.

See financial information here

» Financial information

Our vessels

• PS-type vessel capacity: about 11,000 TEU

• G-type vessel capacity: about 7,000 TEU
• S-type vessel capacity: about 6,600 TEU
• M-type vessel capacity: about 6,500 TEU
• K-type vessel capacity: about 6,000 TEU
• PS-type reefer capacity: about 1,000 plugs
• S and K-type reefer capacity: about 700 plugs
• A PS-class vessel such as the EMMA MÆRSK can carry 11,000 full 20-foot
containers. That equals a train 71 kilometres long.
• The anchor of a PS-class vessel such as the EMMA MÆRSK weighs 29 tonnes,
equivalent to five adult African elephants.
• The main engine of a PS-class vessel such as the EMMA MÆRSK produces
109,000 horsepower, equal to that of 1,156 family cars.
• Combined, the accommodation and bridge of a PS-class vessel are as high as
a twelve-storey building.
• PS-class vessels are equipped with a waste heat recovery system, saving up
to ten percent of main engine power. That is equal to the average annual
electrical consumption of 5,000 European households.