Denmark: Maersk Tankers Signs Deal with GE Shipping to Buy Thre Newbuild VLCCs

Maersk Tankers, the tanker arm of the A.P. Moller – Maersk Group, has signed a deal with Great Eastern Shipping Company Ltd, India’s largest private sector shipping company, to buy 3 newbuilding VLCCs with delivery first half 2012.

“We have ambitions to grow in the VLCC segment, but without adding to an already large orderbook. At this point we believe that second hand and resale deals offer superior value compared to building and we will continue to search for further growth opportunities,” says Head of Crude, Claus Gronborg.

The deal, brokered by Clarksons, involves three newbuildings, each of 318,000 dwt from HYUNDAI H.I. the first of which will be delivered in January 2012, the other two follow in March and April same year. Upon delivery the three newbuildings will join Maersk Tankers’ fleet of 15 VLCCs and 2 newbuildings, placing Maersk Tankers in the top 5 of independent VLCC owners.

Apart from being present in the VLCC market, Maersk Tankers operates the world’s largest product tanker fleet and is also present in the gas carrier market. The total operated fleet amounts to 255 with 23 newbuildings. Maersk Tankers is well recognized for its strong focus on safety and sustainability and was the first tanker company to publish an annual Sustainability Action Plan, an effort for which the company was awarded two BP HSSE Awards in 2011.

Maersk Tankers was established in 1928 and employs an international staff of 4,500

people at shore and at sea.

[mappress]

Source: Maersk, April 18, 2011; Image: HHI