Maersk Tankers Acquires Penfield Marine To Form Large-Scale Tanker Company

Maersk Tankers reportedly acquired the US pool operator Penfield Marine for an unrevealed sum, making a crude and product tanker major that will manage about 240 vessels. The combined firm will operate under Maersk Tankers and Brand and will have headquarters in Copenhagen, with Tina Revsbech at its helm. In 2012, Penfield Marine was founded by Eric Haughn and Tim Brennan. It operates approximately 80 tankers in the Panamax/LR1, Aframax/LR2, and Suezmax pools today.

The firm’s CEO, Brennan, will join the management team at Maersk Tankers as the chief commercial officer, whereas Eric Haughn will retain the current role as the chief operating officer. Talking about the same deal, the chief executive of Maersk Tankers, Revsbech, mentioned: Over the years, Penfield Marine has built a strong position and lasting presence in the industry and is an ideal match for Maersk Tankers.

The combined commercial and operational expertise will permit the company to grow its presence as a retail manager and extend the service offerings with improved performance optimization and decarbonization to a broader segment of customers and pool partners. Penfield Marine’s Brennan added that he and Eric have found the most appropriate home for Penfield.

Joining Maersk Tankers allows Penfield to be part of an exceptional tanker pooling business with long-term growth prospects. It permits extending Maersk Tankers’ offerings to the pool partners within the decarbonization. The complementary businesses will help deliver diversified services and substantial values for pool partners, customers, and employees.

Penfield has offices in London, Connecticut, and Singapore. Maersk Tankers said that the operations would continue with zero changes to regional presence to facilitate integration for pool partners, employees, and customers.

Reference: Maersk

Maersk Tankers Acquires Penfield Marine To Form Large-Scale Tanker Company appeared first on Marine Insight – The Maritime Industry Guide

Source: Maritime Shipping News