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Maersk Tankers sells its VLGC segment

Ship & Offshore, 2013-06-11
Maersk Tankers exits its VLGC (very large gas carrier) segment by selling the fleet to the BW Group, which buys five owned vessels and takes over another five existing time charter commitments.

The divestment is part of Maersk Tankers strategy to focus on fewer segments. The BW Group is one of the world's leading maritime groups in the tanker, gas and offshore segments, operating a fleet of 93 owned, part-owned or controlled vessels.
Hanne B. Sørensen, CEO of Maersk Tankers, said: "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 of BW Group, commented: "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 said they would 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.
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