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Maersk Tankers declares MR options at Sungdong

Maersk Tankers has declared option for two MR product newbuildings at Sungdong Shipbuilding and Marine Engineering bringing its tally at the yard to six.

Marcus Hand, Editor

February 10, 2014

1 Min Read
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The declared options add to four MR newbuildings ordered at Sungdong last November and all six vessels are expected to be delivered in 2016 and 2017.

“We believe that the product segments have a reasonable chance of returning to attractive rates in the coming years and in order to stay relevant and attractive in these markets, we need to gradually renew our fleet to maintain a suitable average age,” said Morten Engelstoft, ceo of Maersk Tankers.

In September last year Klaus Rud Sejling, coo of Mearsk Tankers, urged restraint from owners in ordering MR product tankers due to the dangers of severe oversuppluy.

Maersk Tankers is looking to refocus its business with a greater emphasis the product tanker sector. In January it announced it would be selling its VLCC fleet to Euronav for $980m, while in May 2013 it sold its VLGC fleet to BW Group.

About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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