Maersk Tankers Exits Handygas With Vessel Sale

(Press Release)
Tuesday, November 20, 2012

Maersk Tankers exits its Handygas segment by selling all 11 vessels to Navigator Gas. The divestment allows Maersk Tankers to focus on fewer segments and releases capital for future investments.

Hanne B. Sørensen, CEO Maersk Tankers, said: "Navigator Gas presented us with a great business proposition that supports our aim to simplify and release capital for future investments. Navigator Gas is an experienced and well-renowned player and I am confident that they will deliver the same first-rate service to our customers as we have."

David J Butters, Chairman, President and CEO of Navigator, said:  "We are pleased to be able to acquire Maersk Tankers modern fleet of handy sized vessels and based on our shared views of maintaining the highest operating standards, we are certain that we can continue to deliver excellent service to all stakeholders within our industry."

The sale affects around 300 seafarers on the Handygas vessels. It is expected that all seafarers will be transferred to other vessels in the Maersk Tankers fleet or be offered employment by Navigator Gas. Maersk Tankers is working closely with Navigator Gas to ensure a smooth transition of the vessels andto support the employees in the period of change.

Maersk Tankers will fulfill all existing contractual commitments and the vessels will be delivered individually to Navigator Gas during the period January 31  through the fourth quarter of 2013.

The Navigator Gas fleet will be comprised of 23 modern 20,500-22,500 semi-refrigerated and fully refrigerated gas carriers after completion of the transaction and, in addition, have four semi refrigerated, ethylene-capable vessels under construction.
 

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Sapurakencana Wins 3 Petronas Oil blocks

SapuraKencana Petroleum Berhad today announced that it has entered into Sale and Purchase Agreements to acquire the entire interest of PETRONAS in 3 blocks offshore

Time-out for Kwanza Drilling

Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola.

President Pryor Retires from ExxonMobil Chemicals

Stephen D. Pryor, president, ExxonMobil Chemical Company and vice president of Exxon Mobil Corporation, has elected to retire on January 1, 2015, after more than 44 years of service.

Offshore

Sapurakencana Wins 3 Petronas Oil blocks

SapuraKencana Petroleum Berhad today announced that it has entered into Sale and Purchase Agreements to acquire the entire interest of PETRONAS in 3 blocks offshore

7 Rescued from Sinking Freighter Near Haiti

Seven crewmembers were rescued after their 100-foot coastal freighter began taking on water and sank approximately 45 miles north off of Cap Haitien, Haiti, Friday.

Time-out for Kwanza Drilling

Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola.

Tanker Trends

HMAS Success Deploys to Middle East

After months of preparation, HMAS Success departed Garden Island in Sydney today for a six-month deployment to the Middle East Region to provide logistic support

Rosneft Ships First Oil From Chayvo Field

Rosneft commenced shipment of crude oil extracted at the Northern Tip of Chayvo license off the coast of Sakhalin, with the first tanker carrying Sokol-grade crude leaving port on November 21.

Venezuela Ships First Crude Mixed with Algerian Oil to China

Venezuela is sending its first shipment of crude mixed with Algerian light oil to China, according to state oil company PDVSA and traders.   Venezuela recently

Ship Sales

Monjasa Buys Tanker from Eships

The Monjasa Group has purchased a tanker, M/T Eships Bainunah, from Abu Dhabi based Eships, the company announced today. The Turkish-built (2005), IMO-II, 8,

ICAP Shipping in Merger Talks

Shipping market prospects picking up after record downturn; shipbroker M&A deals have gathered pace this year. ICAP's shipping business is in merger talks with rival shipbroker Howe Robinson,

Energy

Sapurakencana Wins 3 Petronas Oil blocks

SapuraKencana Petroleum Berhad today announced that it has entered into Sale and Purchase Agreements to acquire the entire interest of PETRONAS in 3 blocks offshore

Kemp Succeeds Semple at Wood Group

Wood Group announced following changes to its senior management team. Alan Semple, chief financial officer (CFO) has advised the board that he intends to

Baker Hughes to Present at Wells Fargo's 2014 Energy Symposium

Baker Hughes Incorporated announced today that the Company's Vice President and Chief Strategy Officer, Derek Mathieson, will present at Wells Fargo's 2014 Energy Symposium on Wednesday,

 
 
Maritime Security Naval Architecture Navigation Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2090 sec (5 req/sec)