AP Moller-Maersk has completed a seven-year strategic shift away from energy services by agreeing a sale of Maersk Supply Service (MSS).

The offshore support vessel company will go to Maersk parent AP Moller Holding in a deal worth $685m, reflecting a multiple to 2022 Ebitda of 27.4 times.

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VesselsValue assesses the 36-ship fleet on the water as worth $1bn.

Maersk adopted its new strategy of focusing on integrated logistics and container shipping in 2016, selling off Maersk Tankers, Maersk Oil & Gas and Maersk Drilling by 2019.