A.P. Møller Holding A/S to acquire Maersk Tankers A/S
A.P. Møller – Mærsk A/S has agreed to sell Maersk Tankers A/S to APMH Invest A/S, a subsidiary of A.P. Moller Holding A/S, for $1.171m.
Maersk Tankers has been a part of A.P. Moller – Maersk since 1928 and is one of the largest product tanker companies in the world, transporting refined oil products globally and employing 3,100 people. The fleet consists of 161 product tanker vessels, with Maersk Tankers owning 80, across four segments; Intermediate, Handy, Medium Range and Long Range 2. The company will continue trading as ‘Maersk Tankers’, using the A.P. Moller – Maersk seven-pointed star-logo as part of its brand.
CEO of A.P. Moller – Maersk, 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.
“Having determined the future ownership of Maersk Tankers, we have taken yet an important step in our strategy to free up resources and focus future growth in A.P. Moller – Maersk on container shipping, ports and logistics.”
The sale of Maersk Tankers is the second transaction as part of the strategy to separate the oil and oil related activities from A.P. Moller – Maersk. In doing so, finding structural solutions constituting the most optimal development opportunities for the capabilities and assets built in the individual energy companies.
Vice CEO of A.P. Moller – Maersk and CEO of the Energy division, Claus V. Hemmingsen said: “In determining the best future ownership for Maersk Tankers, it has been imperative for us to assure a financially solid owner with industry insight and a long-term view on the inherent cyclical nature of the tanker industry. This will secure that Maersk Tankers can continue to take advantage of market opportunities, as well as uphold the capabilities and the organisation on which Maersk Tankers global leading market position is built.”
A.P. Moller Holding will establish an ownership consortium for the Maersk Tankers’ fleet with the leading global trading company Mitsui & Co. Ltd. and other potential partners, in which A.P. Moller Holding will be majority shareholder.
CEO of Maersk Tankers, Christian M. Ingerslev said: “We look forward to becoming a part of A.P. Moller Holding under which we will continue to strengthen our third-party services and commercial performance, building on our position as digital frontrunner in the industry. This will benefit our customers, partners and owner.”
For more information visit www.maersk.com
24th Sept 2017
