A.P. Møller – Mærsk, which will use the proceeds from the deal to reduce debt, is divesting the business as part of its strategy to separate the oil and oil related activities.
As per terms of the deal, A.P. Moller Holding will take responsibility for all outstanding capital commitments of Maersk Tankers’ fleet renewal programme.
Maersk Tankers, which has been operating under A.P. Moller – Maersk since 1928, transports refined oil products across the globe.
With around 3,100 employees, the company’s fleet includes 161 product tanker vessels, of which 80 operate across four segments such as intermediate, handy, medium range and long range.
Through using the A.P. Moller – Maersk seven-pointed star-logo, the company will continue to trade as Maersk Tankers.
Subject to merger control approvals, the deal is expected to complete by the end of October this year.
A.P. Moller – Maersk CEO Søren Skou said: “Maersk Tankers has served A.P. Moller – Maersk well for almost a century, building an industry leading position within the product tanker market.
“As former CEO of Maersk Tankers for more than 10 years, I recognise the importance of having an owner with a long-term market view in this industry, and this is why I am pleased that Maersk Tankers can continue to build on its strong name and position under A.P. Moller Holding.”
Image: Maersk Tangier. Photo: courtesy of A.P. Moller – Maersk.
