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 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

General Dynamics Bags $ 50 mi Submarine Contracts

General Dynamics Advanced Information Systems, a business unit of General Dynamics was awarded two contract modifications totaling $50 million to continue supporting

Skangass Builds LNG Terminal in Pori, Finland

With investment support from the Finnish Government of 185 million NOK Skangass has decided to build a new import terminal for LNG. The terminal will be completed in 2016.

Brent Holds Above $97, Eyes Worst Quarter Since 2012

Brent crude futures hovered above $97 a barrel on Tuesday, aided by firm U.S. and Chinese data, but the oil benchmark was on track for its deepest quarterly drop

Offshore

Swire Pacific Acquires 3rd L Class PSV

Shipowner and operator, Swire Pacific Offshore Operations (Pte) Ltd (SPO) celebrated the naming and delivery of its third L Class PSV vessel, Pacific Legend in Kyoto,

Norvestor to Become PG’s Largest Shareholder

Norvestor VI, L.P., a fund advised by Norvestor Equity AS, announced it has signed an agreement to invest in Ing Per Gjerdrum AS including its subsidiaries PG Hydraulics AS and PG Construction AS.

Crowley Receives Heavy-Lift Deck Barge in Singapore

Crowley Maritime Corporation’s solutions group announced today that it has received the first two of potentially four, new heavy-lift, ballastable deck barges (HDBs)

Tanker Trends

Scanjet Bags Multiple Tank Management Orders

SCANJET Group has followed up its breakthrough Tank Management order from Stolt-Nielsen with a series of contracts for its ITAMA Intelligent Tank Management concept including Tankcleaning,

GTT Earns Five AIPs for Multi-gas Membranes

Gaztransport & Technigaz (GTT), designer of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas) announced five

Steel Cut for Yamal LNG Project’s Lead Tanker

A steel-cutting ceremony was held on September 29 for the lead gas tanker ordered by SCF Group for transportation of liquefied natural gas (LNG) under the Yamal LNG project.

Ship Sales

300th Tug Brokered by Marcon Int'l

Marcon International, Inc. of Coupeville, Washington reported the sale of the U.S. flag, twin screw tug “Pacific Patriot” (ex-Pacific King) from Kirby Marine Offshore to U.

G E Shipping Acquires a Supramax Bulk Carrier & Sells "Jag Prachi"

The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a 2006-built Supramax Bulk Carrier of about 52,454 dwt. The company had contracted to buy the ship earlier this month.

Dynagas Partners Announces LNG Carrier Acquisition

Dynagas LNG Partners LP, an owner and operator of LNG carriers, has announced that it has entered into an agreement to purchase from Dynagas Holding Ltd., the partnership's sponsor,

Energy

Swissco Doubles Rig Fleet

SGX Mainboard-listed Swissco Holdings Limited an integrated, international marine services provider, today announced having completed the acquisition of four additional mobile offshore drilling units,

Gazprom Constructs Sports Complex in Stavropol

Stavropol hosted today a groundbreaking ceremony of a versatile sports & recreation complex of Gazprom. The sports & recreation complex will include a 50 meter Olympic swimming pool,

Swire Pacific Acquires 3rd L Class PSV

Shipowner and operator, Swire Pacific Offshore Operations (Pte) Ltd (SPO) celebrated the naming and delivery of its third L Class PSV vessel, Pacific Legend in Kyoto,

 
 
Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators
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: 5.0232 sec (0 req/sec)