28-12-2017

Maersk: Upholding a leading position in the tanker industry

A.P. Møller Holding completed the acquisition of Maersk Tankers in October. The CEO of Maersk Tankers, Christian M. Ingerslev, reflects on how the company will uphold its leading position in the tanker industry.

Since Maersk Tankers was founded in 1928, its name and values have been an integral part of the company; according to the CEO Christian M. Ingerslev, they will be the foundation of the company’s future growth.

“We have an 89-year history built on core values, which has ensured Maersk Tankers is one of the leading product tanker companies in the industry. We will build on this position under the new ownership by A.P. Møller Holding to the benefit of our customers, partners, employees and new owner,” says Ingerslev, speaking in his office overlooking Copenhagen harbour.

Maersk Tankers is one of the largest product tanker companies in the world, transporting refined oil products globally and employing 3,100 people. The company operates approximately 160 product tanker vessels across five segments: Intermediate, Handy, Medium Range, Long-Range 2 and Aframax. “We facilitate the global trade of energy, supporting our customers in getting access to markets and through this, help societies to develop,” says Ingerslev.

The digital tanker company

Under the new ownership, Maersk Tankers will get increased access to the external market to attract capital from investors interested in the product tanker industry, and it will continue to operate under the Maersk brand.

New corporate structure for Maersk Tankers

As of 10 October 2017, Maersk Tankers A/S has been acquired by A.P. Møller Holding. The company structure will change to a Management Company, focusing on developing and promoting the commercial and technical platform, and an Asset Company focusing on optimising the long-term shareholder value of the fleet.

A.P. Møller Holding has established an ownership consortium for the Maersk Tankers’ fleet with the leading global trading company Mitsui & Co. Ltd. A.P. Møller Holding is the majority and controlling shareholder.
Christian M. Ingerslev, Ceo of Maersk Tankers

Image: Maersk Tankers

    We have the market position, name, employees and strategy to ensure the company’s continued development. We will use this to deliver industry-leading commercial performance, establish strategic partnerships through existing and new service offerings and remain cost leaders, generating value for investors.

The company is increasingly using digital solutions to enable its strategy, which includes the establishment of a dedicated digital function and a strategic partnership with the Boston-based hedge
fund CargoMetrics. The digital drive is, for example, set to take advantage of the significant price volatility that exists in the industry by using data and models to predict where the customers’ demands are, and position the vessels accordingly.

“We are challenging the paradigm of the industry by combining the capabilities and experience of our employees with digital solutions,” says Ingerslev. “Becoming a digital tanker company will continue
to take us forward, generating new businesses and revenue streams.”

Source: Maersk Tankers

 

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