Join our crew and become one of the 109,374 members that receive our newsletter.

Maersk Hakata

Maersk Flips Four More to Euronav While Exiting Crude Sector

Rob Almeida
Total Views: 21
July 10, 2014

Maersk Hakata, image courtesy Maersk Tankers

Frustrated with unprofitability, Maersk Tankers announced today they are buying their six remaining bareboat chartered crude tankers and immediately selling four them to Euronav.  This deal is an addition to the 15 Euronav bought from Maersk in early January.

Morten H. Engelstoft, CEO of Maersk Tankers notes in an emailed statement today, “We have decided to pursue an exit of these unprofitable charters by purchasing the vessels from their current owners with the intention to subsequently resell them at an appropriate time.  The transaction will contribute to a good upside to our bottom line in 2014 and continues our strategy to become a pure product tanker company.”

The four vessels were built in Japan with an average age of 3 years.  Three of the vessels will be delivered to Euronav in 2014 and the last will be delivered in 2Q 2015.

Unlock Exclusive Insights Today!

Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.

Sign Up
Back to Main
polygon icon polygon icon

Why Join the gCaptain Club?

Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.

Sign Up
close

JOIN OUR CREW

Maritime and offshore news trusted by our 109,374 members delivered daily straight to your inbox.