Maersk Tankers has sold its fleet of 15 very large crude carriers to Euronav, a Belgian tanker operator, for $980 million, allowing parent company A.P. Moller-Maersk to focus on its core businesses.
The sale of the tankers, which have an average age of only four years, will enable the Danish company to concentrate investments on its four core businesses, which were announced in 2012: Maersk Line, APM Terminals, Maersk Oil and Maersk Drilling. Maersk Tankers has been put into a fifth standalone division, which includes other non-core units, including Svitzer tugs and logistics and freight forwarding firm Damco.
Maersk Tankers reported a $271 million loss in the first nine months of 2013, compared with Maersk Line’s $1.2 billion profit in the same period.