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Maersk Tankers suffers loss of USD 277 million

Huge write-offs of USD 267 million are reported by the Maersk Group’s tanker ship company. The company ends the third quarter with a USD 277 million deficit.

Photo: Maersk Tankers

Maersk Tankers lost no less than USD 277 million in the third quarter of 2012 compared to a corresponding minus of USD 39 million during the same period last year. The cause for the loss is the continued higher bids of tonnage which are now prompting Maersk Tankers to change its medium term market outlook, and which have resulted in write-offs of USD 267 million in the crude oil segment, VLCC, handysize product tankers, and the small product tanker segment.

Primarily due to the write-offs, Maersk Tankers saw a deficit during the period of about USD 277 million compared to the corresponding 2011 Q3 deficit of USD 39 million.

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