Maersk postpones newbuilding of its fleet

Danish owner says further renewal will come when values adjust.

News ID: 64348

Date: 12 April 2016 - 10:46

Maersk Tankers is holding off for prices to fall before continuing its fleet renewal, a leading executive says.
Maersk Tankers on Friday took delivery of the 50,000-dwt Maersk Teesport and Maersk Tianjing from Sungdong Shipyard, part of 10 vessel series at the yard.
Together with nine vessels at Ningbo Shipyard in China, the new ships will help Maersk Tankers replace around 20% of its fleet with newbuildings already ordered.
Claus Gronborg, head of business development at Maersk Tankers, said in a statement: “Besides the newbuild order book we have also replaced some of our older vessels with second-hand vessels.
“We will continue our renewal of the fleet, when we believe that the pricing is at an attractive level again. At the time being the price level is too high.”
Maersk Tankers has a fleet of 156 vessels, including 24 on time charterer and 50 vessels in pools.