More North America for Maersk
A.P. Moller-Maersk will buy USA-based Pilot Freight Services from ATL Partners, a sector-focused private equity firm in New York and British Columbia Investment Management Corporation (BCI) in Canada. The transaction will cost USD 1.68 billion.
After Performance Team (PT) (B2B warehousing and distribution) and Visible SCM (e-commerce warehousing and parcel distribution), Pilot is the next step in Maersk's expansion in North America. Pilot is a logistics solutions provider, specialising in the big and bulky freight segment in North America for B2C and B2B distribution models.
The company operates a North American facilities-based transportation network of 87 stations and hubs, using mainly 3PL for trucking. The scope encompasses full truckload (FTL) and less-than-truckload (LTL) for both B2C and B2B distribution including heavy and bulky shipments with white glove service with a focus on expedited and time definite services. The combined Pilot and Maersk scale will offer customers app. 150 facilities in USA, including distribution centres, hubs and stations.
Maersk added that it expects to report a 2022 profit of about USD 24 billion, measured as underlying earnings before interest, tax, depreciation and amortisation: "The global container market will expand by 2% to 4% this year and will be subject to high uncertainties related to the current congestion, network disruptions and demand patterns."
The company was last month surpassed by Mediterranean Shipping Co. as the world’s largest shipping line in terms of capacity but remains the biggest owner of container ships. (sh)