Comment / EXCLUSIVE Market Insight: First casualty – ex-AP Møller Mærsk JV goes bust

Relieved?

Now, maybe you remember this story from ShippingWatch in September last year: “Maersk-owned Svitzer and its partner Crowley Maritime Corporation have decided to sell salvage and marine company Ardent.”

With hindsight, what a great decision that was.

“Ardent has gone bankrupt,” was the short message from sources familiar with the situation on Wednesday. “The news isn’t public, but staff have been informed.”

As other reports emerged at the end of 2019, “which were misleading in terms of deal structure”, sources indicate that what was labelled as ...