Maersk Tankers Signs $300 Million Newbuild Contract with Samsung

Maersk Tankers, a unit of Copenhagen-based Maersk Group, mentioned Friday it has signed a $300 million newbuilding contract with Samsung Heavy Industries Ningbo shipyard in China calling for 9 medium-range tankers.

The firm mentioned the funding is “a clear indication of Maersk Tankers commitment to remain at the very top of the product tanker industry.”

The 9 tankers will every have a capability of 49,940 DWT and are due for supply in 2017 and 2018.

The contract was signed at Maersk Tankers’ workplace in Copenhagen by Claus Grønborg, VP and Head of Business Development of Maersk Tankers and a consultant from Samsung’s London Office.

Commenting on the order, Grønborg mentioned he sees it as subsequent step within the renewal of Maersk Tankers fleet. “The vessels will support our Taking Lead strategy in the Product segment and maintain our strong focus on cost effectiveness. The renewal of our fleet will help us to stay environmentally efficient, competitive and better equipped to meet our customers demands”, he says.

Maersk Tankers’ fleet as of September 2015 consists of 80 owned vessels and 20 chartered vessels. The firm additionally has 17 newbuild medium-range vessels on order to be delivered earlier than the tip of 2018, consisting of 8 MR tankers from SungDong, South Korea to be delivered in 2015-2016 and the 9 tankers introduced Friday.