Maersk Tankers exits handygas segment
Hanne B. Sørensen, CEO Maersk Tankers, said Navigator Gas presented them with a great business proposition. Maersk Tankers said Tuesday it is to exit the Handygas segment, and will sell all 11 of its vessels to UK-based Navigator Gas.
The price of the transaction was not disclosed, but Maersk Tankers said it would allow it to focus on fewer tanker segments and release capital for future investments.
Hanne B. Sørensen, CEO Maersk Tankers, said "Navigator Gas presented us with a great business proposition that supports our aim to simplify and release capital for future investments.
"Navigator Gas is an experienced and well-renowned player and I am confident that they will deliver the same first-rate service to our customers as we have."
The deal will increase Navigator Gas' fleet to 23 20,500-22,500 semi-refrigerated and fully refrigerated gas carriers.
A.P. Moller-Maersk Group, who earlier this month said it increased its third-quarter profits by 151 percent year-over-year, has said it is to shift its focus away from shipping and toward its oil, terminals, and drilling businesses.