Maersk Tankers Sells its Entire VLGC Fleet

Press Release
Thursday, May 30, 2013
Maersk Gas Tanker: Photo credit Maersk Tankers

Maersk Tankers exits Very Large Gas Carrier (VLGC) segment by selling its  fleet to the BW Group.

The BW Group buys Maersk Tankers five owned vessels and takes over the five existing time charter commitments, which Maersk Tankers explains is part of its divestment strategy to focus on fewer segments.

Hanne B. Sørensen, CEO Maersk Tankers: “This transaction supports our strategy to focus on fewer segments. I am confident that BW will deliver the same first-rate service to our customers as we have.”

Andreas Sohmen-Pao, CEO BW Group, says: “Maersk Tankers has a fleet of high quality vessels and BW is pleased to be acquiring this fleet. With this purchase, we will be able to deliver even more flexible service to our customers, providing ready access to vessels in all regions at all times.”

Maersk Tankers and BW Group will ensure a smooth transition of the vessels. The sale is subject to approval by competition authorities. The parties have agreed not to disclose the terms and conditions of the sale.

Maersk Tankers employs more than 4000 people offshore and onshore. The company now operates in the crude and product segments and manages a fleet of more than 200 vessels, while the BW Group operates a fleet of 93 owned, part-owned or controlled vessels in the tanker, gas and offshore segments.


 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

ABP orders Two Gottwald cranes

Terex Port Solutions (TPS) has received an order from Associated British Ports (ABP) for two electric Terex Gottwald Model 8 portal harbour cranes in the G HSK 8424 B four-rope grab variant.

POSH Bags Shell FLNG Contract

Singapore’s offshore marine services provider PACC Offshore Services Holdings Ltd. (POSH) has been awarded a contract to support Shell’s Prelude floating liquefied

Baltic Index up for Third Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday, for a third straight session, on rising demand across all vessel segments.

Tanker Trends

VL-exit?

Earlier this week spot returns in the VLCC market touched their lowest level since October 2014, with TCE earnings for Middle East/Japan (TD3) falling close to $20,

RS Rules Conform to the IMO Goal-based Standards

The rules of the Russian Maritime Register of Shipping are in conformity to the International Maritime Organization (IMO)goal-based standards (GBS), the IMO’s Maritime

Asia Tankers-VLCC Rates to Climb Slowly

Around 47 MidEast charters fixed for July loading so far; older tonnage and new vessels a drag on freight rates. Freight rates for very large crude carriers

LNG

Conrad Shipyard Forms LNG Business Unit

Conrad Shipyard has formed a new business unit focused on LNG projects.   Conrad, builder of North America’s first LNG bunker barge scheduled for 2017 delivery,

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

GTT, Endel Team-up to Roll-out Membrane Containment Systems

21 June 2016. GTT and the Endel company1 reaffirmed their collaboration in the area of LNG as a marine fuel, following the recent signature of a Technical Assistance

 
 
Maritime Careers / Shipboard Positions Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | 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: 0.0776 sec (13 req/sec)