Maersk Plans to Buy New Product Tankers

By MarEx 2013-10-15 16:10:00

Danish oil and shipping group A.P. Moller-Maersk is planning to buy new product tanker ships, according to Danish business daily Borsen.

Marketing Director Klaus Rud Sejling from its Maersk Tankers unit said that the unit has to continuously develop its fleet to stay competitive. "Therefore, we are looking at the possibility of replacing certain parts of the fleet," he told Borsen.

He did not give further details, but Borsen, without citing its sources, said Maersk Tankers was planning to buy 10 new long-haul and mid-range product tankers.

Product tankers carry refined oil products such as gasoline, diesel and aviation fuel.

Maersk Tankers operates one of the world's largest fleets of tanker ships, 162 by the end of 2012. Its rivals include Norway's Frontline and U.S. company TeeKay Tankers .