Photo: Illustration. Image by Maersk Tankers

Maersk Tankers’ fleet sees 20 pct growth in 2020

Denmark-based tanker owner and operator Maersk Tankers has increased its managed fleet by more than 20% so far this year following the latest deal signed with Xihe Holdings (Xihe), the 60% holding company for Singapore’s tanker ship owner Xihe Group of Companies.

Maersk Tankers’ managed fleet now stands at more than 220 vessels.

Illustration. Image by Maersk Tankers

Earlier this month, Maersk Tankers entered into a commercial agreement that sees it take over the running of four product tankers owned by Xihe.

As informed, the new deal is in line with the company’s strategy of building scale through partnerships driven by the use of digitalisation to cut CO2 emissions and boost partner returns.

“We will increase the tradability of the vessels and harness our commercial and digital expertise to boost their performance, providing attractive financial returns to them and our existing pool partners,” Claus Gronborg, Chief Investment Officer at Maersk Tankers, commented.

The first of the four vessels, the MR Ocean Mercury, was already part of the MR Pool in early December. The next three tankers, two MR vessels and a 9,500 dwt vessel, will be joining the fleet over the coming weeks.

The fleet increase benefits both existing pool partners and the pools’ cargo customers, according to Maersk Tankers.

“With more ships available, the pools can offer greater flexibility to customers in transporting their cargoes. This also helps optimise the utilisation of the fleet, which can result in lower CO2 emissions and higher earnings for partners in the company’s pools,” the company said.

Established in 1928, Maersk Tankers remained a part of A.P. Moller – Maersk until becoming an independent company in 2017. It is now owned by A.P. Moller Holding through its subsidiary APMH Invest.