Logistics Giant Maersk Is Completely Out of Russia

Kyra Gardner
Kyra Gardner Business
3 Min Read

Yesterday (Feb. 20), the Copenhagen-based shipping and logistics corporation Maersk stated that it has “entered into a deal to dispose of its logistics locations in St. Petersburg and Novorossiysk to IG Financial Development Ltd.”

Cypriot IG Finance Development Company to Carry out Maersk’s Operations

The decision to sell the two sites—one a container depot and the other a warehouse—was taken “as a result of the company’s decision made in March 2022 to stop operations in Russia,” according to Maersk. All regulatory permissions for the transaction have been obtained, and the sale became effective on February 17.

IG Finance, a Cyprus-based business, has agreed to run the locations in St. Petersburg and Novorossiysk with the Russian food importer Arosa.

The Novorossiysk inland depot has 28,750 square meters in size and can hold 1,500 twenty-foot-equivalent containers. The depot specializes in commercial cargo handlings, such as grain from railway wagons and marine containers. St. Petersburg also has 23,500 square meters of refrigerated and frozen storage.

logistics giant maersk is completely out of russia

In answer to the question of what would happen to the 50 workers at Maersk’s two Russian facilities, Maersk management stated that these people will be offered roles in new ventures.

“During the divestiture process, we felt a significant obligation to the remaining 50 workers at the two locations, and we are pleased that they will be given employment as part of the new arrangement,” said Karsten Kildahl, Maersk’s chief commercial officer.

Maersk Gradually Withdrawn from the Russian Market

Maersk stated that it will stop all new ocean, air, and intercontinental train bookings to and from Russia and Belarus, except groceries and medical and humanitarian goods (bar dual-use items). It also agreed to cease buying Russian oil for its ships in February 2022.

Maerks strengthened restrictions even more in March 2022, prohibiting all new bookings to and from Russia and Belarus. After discovering that the Black Sea area between Ukraine and Russia has been formally proclaimed a “war zone,” the firm said that any vessels stopping at Novorossiysk would face an increase in insurance premiums effective immediately.

After completing its last cargo trip, Maersk stopped calling at any Russian or Belarussian ports a month later. The corporation had 20,000 empty containers in Russia that it planned to reclaim.

Maersk sold a 30.75% share in Russian port operator Global Ports Investments to Russia’s largest container operator Delo Group in August last year.


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Kyra, an international journalist with a passion for economics and technology. She has worked for several top media outlets, including Financial Times, covering global finance and emerging tech trends. Kyra has reported on a wide range of topics, from the impact of artificial intelligence on job markets to the economic implications of climate change. Her in-depth analysis and insightful reporting have won her numerous awards and accolades. Kyra's curiosity and desire to understand complex economic and technological issues make her a respected and sought-after journalist in her field. As a skilled media coach and public speaker, Gardner also has experience in strategic planning and management.
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