Sponsored By

Maersk Tankers reports ‘best result in years’Maersk Tankers reports ‘best result in years’

Maersk Tankers has reported what it calls its “a highly satisfying” underlying result of $156m for 2015 - of which $150m came from the product tanker sector - and a return on invested capital (ROIC) of 9.9%.

Bob Jaques, Former Editor

February 11, 2016

1 Min Read
Kalyakan - stock.adobe.com

This compares with an underlying result of $138m in 2014, of which $28m was lost on the product tanker segment, and ROIC of 6.8m, that positive result attributable to Maersk Tankers’ sale of its larger VLCCs in early 2014 to Euronav.

“Maersk Tankers has found it difficult to deliver satisfactory results for several years due to very low rates in the market,” the company said in a results statement. “This meant that, a couple of years ago, Maersk Tankers chose to focus on the product tanker market, through which Maersk Tankers expects to be able to achieve the best earnings in the long-term, for example due to the refineries moving closer to the oil wells.”

The 2015 figures, the “best result in years” was a result of rates in the product tanker segment having started moving up “as early as late 2014”, Maersk added - albeit acknowledging that rates in the VLCC segment began climbing “even earlier”.

Read more about:

Maersk

About the Author

Bob Jaques

Former Editor

Bob Jaques is a former editor of Seatrade Maritime Review magazine and has over 20 years of experience as a maritime journalist and moderator of shipping conferences.

Bob is an English literature graduate from the University of York with a postgraduate Diploma in Management Studies from Birkbeck College, University of London. He worked as an aerospace and media journalist in Geneva before joining Seatrade in the 1990s.

Bob is a past winner of the Seahorse ‘Journalist of the Year’ and ‘Best Feature Article’ Awards.

Get the latest maritime news, analysis and more delivered to your inbox
Join 12,000+ members of the maritime community

You May Also Like