Maersk Tankers defends sale of VLGCs

Immediately prior to a historic recovery of the market, Maersk Tankers decided to sell its gigantic gas tankers. Maersk was given a favorable price, the company’s CEO stresses.

Shortly before a historic recovery of the market, Maersk chose to sell its huge gas tankers. The company might regret that decision today, as it is set to miss out on a veritable shipping boom that could have earned it about USD 90 million, the Danish business daily Børsen writes.

Last year, Maersk Tankers got rid of 10 VLGCs, of which five were fully-owned. Since then, the value of those ships have increased by USD 91 million, while average rates for transporting liquid gas have gone up by just shy of 70%.

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