Maersk Tankers sells its VLGC segment to BW Group

Maersk Tankers exits its VLGC segment by selling the fleet to the BW Group. The BW Group buys Maersk Tankers five owned vessels and takes over the five existing time charter commitments. The divestment is part of Maersk Tankers strategy to focus on fewer segments.
Hanne B. Sørensen, CEO Maersk Tankers: “This transaction supports our strategy to focus on fewer segments. I am confident that BW will deliver the same first-rate service to our customers as we have.”
Andreas Sohmen-Pao, CEO BW Group, says: “Maersk Tankers has a fleet of high quality vessels and BW is pleased to be acquiring this fleet. With this purchase, we will be able to deliver even more flexible service to our customers, providing ready access to vessels in all regions at all times.”
Maersk Tankers and BW Group will ensure a smooth transition of the vessels. The sale is subject to approval by competition authorities. The parties have agreed not to disclose the terms and conditions of the sale.
Maersk Tankers employs more than 4000 people offshore and onshore. The company now operates in the crude and product segments and manages a fleet of more than 200 vessels.
The BW Group operates a fleet of 93 owned, part-owned or controlled vessels in the tanker, gas and offshore segments.
Source: Maersk Tankers