A.P. Møller - Mærsk

M&A Activity • Jul 10, 2014

                              ANNOUNCEMENT

A.P. Møller - Mærsk A/S – Long-term vessel sharing agreement with MSC

Following the abandonment of the P3 Network announced on 17 June 2014 A.P.
Møller - Mærsk A/S (Maersk Line) has pursued new ways of improving the network
efficiency and profitability. Today, Maersk Line has entered into a long-term
(10 years) vessel sharing agreement (the VSA) with MSC Mediterranean Shipping
Company S. A. on the Asia-Europe, Transatlantic and Transpacific trades.

The VSA will include 185 vessels with an estimated capacity of 2.1 mill. TEU on
21 strings. Maersk Line is expected to contribute around 55% of the total
capacity and Maersk Line’s 20 triple E-vessels are planned to be deployed under
the VSA. The Parties will keep their independent commercial relationships to
customers and suppliers and will separately perform the marine operation of
their vessels. There will be no joint ownership of the vessels.

To coordinate and/or monitor the day to day operation of the network the
Parties will form certain functional committees including a co-located
coordination committee. The representatives in each committee will remain
employees of the respective Parties.

The VSA is expected to improve the network efficiency and allow for lower slot
costs through improved utilisation of vessel capacity and economies of scale
which will also be to the benefit of the customers.

Subject to approval from relevant authorities the VSA is expected to start
early 2015.

Copenhagen, 10 July 2014

Contact persons:

Head of Investor Relations, Henrik Lund, tel. +45 3363 3106

Head of Media Relations, Louise Münter, tel. +45 3363 1912

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