Letter from the Chair and the CEO

Our Purpose, improving life for all by integrating the world, is the reason we strive to deliver a more connected, agile and decarbonised future for global logistics. It’s what gets our colleagues up every morning.

Underlying our Purpose are our long-held values, and while our values remain constant, we refreshed and revitalised them in 2022 to ensure their continued relevance in the context of a changing world. One of the clearest examples of our values in action was in our response to the tragic war in Ukraine.

Values in action: Our response to the war in Ukraine

Keeping our colleagues safe has been our first priority in the conflict. We managed to evacuate all colleagues and their families who wanted to leave conflict zones in Ukraine — 148 people in total.

After deciding to leave the Russian market and divesting our operations and assets, we also did our upmost to take care of our Russian colleagues.

Finally, we have worked closely with UN partners and global humanitarian organisations to provide extensive aid and relief to millions of displaced people in Ukraine through our logistics bases in Poland and Romania. Our humanitarian efforts are evolving as the conflict continues.

Strong results and stronger customer partnerships

Our record 2022 results across ocean, logistics and terminals have been accentuated by extraordinary market conditions, supply chain disruptions and congestion. These multifaceted challenges have led many of our customers to rethink and redesign their supply chains — some for the first time in years.

Our transformation efforts to become the integrator of global logistics positioned us well to support our customers through these periods of volatility. As supply chain management moves up our customers’ strategic agenda, A.P. Moller - Maersk has earned a seat at the table for more long-term planning focused on connected end-to-end solutions.

Our commitment to our customers has led to record-high NPS results in 2022, which is part of an ongoing story of continuous improvement since the start of the pandemic in Q1 2020. We have also seen a 21% organic revenue growth in logistics and customers who are affirming our strategy by growing their ocean business with us.

As we enter 2023, we are strongly positioned to solve our customers’ current supply chain needs, as well as their future needs for even more resilient, transparent and climate-neutral supply chains.

Supporting the digital transformation

Extensive parts of the logistics industry have fallen behind the technology revolution of the last decade. Our aim is to contribute with technology solutions that allow us to digitise, integrate and decarbonise global supply chains.

To achieve that, we are connecting physical assets with the digital world, leveraging the power of digital platforms, IoT and data. Our vision is to use this rich data set to provide end-to-end visibility across global supply chains that allow our customers to make the best possible decisions for their businesses. Specifically, we are striving to not only provide insights into our customers’ supply chains, but also offer recommendations and actions for how supply chains can and should be optimised in the future.

However, to truly reshape our industry, we will need continued collaboration and standardisation across all parties involved throughout supply chains.

Making this the decade of climate action

In 2022, we accelerated our net zero greenhouse gas (GHG) emission targets to 2040 from 2050.

The main challenge in decarbonising global shipping remains the availability of lower GHG emissions energy and fuels* in sufficient quantities at competitive prices.

To address that, A.P. Moller - Maersk ordered a new series of dual-fuel container ships with engines that are capable of being powered by methanol fuel. We also entered into strategic partnerships with nine companies in 2022 with the intent of sourcing at least 750,000 tonnes of lower GHG emissions fuel* per year by the end of 2025.

*Maersk defines "reduced/lower GHG emissions fuels" as fuels with at least 65% reductions in GHG emissions on a lifecycle basis compared to fossil of 94 g CO2e/MJ.

Thank you for the continued support

We are honoured to work alongside all our colleagues around the world. Their truly remarkable efforts have kept trade moving sustainably under very challenging conditions.

We would also like to thank the Board of Directors and the executive leadership team for the support and many contributions throughout the year. In particular, we express our gratitude to Søren Skou, who retired as CEO of A.P. Moller - Maersk in December 2022. During his tenure as CEO, Søren was instrumental in redefining A.P. Moller - Maersk as a customer-centric end-to-end logistics provider and a leader in sustainable transportation solutions. A thorough succession planning process ensured that the CEO role was transitioned successfully to Vincent Clerc by January 2023.

As we enter the new year, with a challenging macro outlook, we remain highly devoted to finding solutions for our customers. With increasingly complex and fragmented global supply chains, we continue to do our upmost to serve their needs. And we thank them for their trust in our services.