A.P. Møller- Mærsk, a shipping and logistics company, completed the spin off of Svitzer, a marine services provider. Financial terms were not disclosed. "Every 3-4 minutes, somewhere in the world a ship relies on Svitzer for safe and reliable towage – be it in a busy harbour port, or essential terminal operation. We know our strength is based on the support of our valued customers and the expertise and professionalism of our people, and this moment is a testament to their contribution in our company's strength today," Kasper Friis Nilaus, Svitzer CEO.