Maersk Tankers eyes strong market throughout 2015

Yet another of the world's major tanker players, The Maersk Group's tanker business Maersk Tankers, sees the strong market continuing the rest of the year. The carrier's CEO Morten Engelstoft tells ShippingWatch that he expects the rate level will last.

Photo: Maersk

"We're not running around cheering. What's needed in order to start talking about a healthy market is that the rates stabilize on the long term at the current level, and I doubt that's going to happen, even though it's necessary in order to improve the far too low returns on the business."

Maersk Tankers CEO Morten Engelstoft made the above statement in December last year, and luckily for the Maersk Group's tanker carrier one can now look back and say that he was not entirely right in his prediction. In any case, Engelstoft - who in addition to serving as CEO of the Group's product tanker carrier also heads the so-called fifth core business that covers the carrier -  is somewhat more optimistic today.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

3i buys AMP out of Esvagt

Private equity firm 3i, which owns half of carrier Esvagt, has agreed with the company's second owner, AMP Capital, to take over all of Esvagt for GBP 268 million, making 3i the sole owner. The transaction is expected to close in the first quarter of 2022.

Further reading

Related articles

Latest news

See all jobs