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Maersk Tankers: Asset prices are now too high

The Maersk Group's tanker unit is taking a break from its fleet renewal efforts. The prices on new as well as second-hand vessels are now too high, says the carrier's Head of Business Development, Claus Grønborg.

Photo: Maersk Tankers

Maersk Tankers will likely not invest in new ships for its fleet anytime soon. The prices today are too high, says Claus Grønborg, Head of Business Development at Maersk Tankers. The carrier is continuously looking into opportunities for fleet renewal, both through new vessels and second-hand. But the investments must be attractive:

"As part of our Taking Lead Strategy, we have increased our investment in the product tanker business in order to strengthen our fleet. Besides the newbuild order book we have also replaced some of our older vessels with second-hand vessels. We will continue our renewal of the fleet,when we believe that the pricing isat an attractive level again. At the time being the level is too high," he says in a statement relating to the naming of two product tanker vessels in South Korea.

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