A.P. Møller - Mærsk A/S and Teekay Shipping Corporation announced an agreement to form Swift Tankers, a Pool of Intermediate Product Tankers. The management company, named Swift Tankers Ltd (Swift Tankers), will provide safe and flexible solutions to customers by offering a large, homogenous fleet of double hull, ice class Product Tankers of 10,000 to 20,000 dwt. Swift Tankers will undertake all daily commercial and operational tasks, including fixing vessels, voyage execution, post-fixture operations, and demurrage and claims procedures. Swift Tankers will be managed and staffed jointly by employees from A.P. Moller - Maersk and Teekay.