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Maersk Tankers takes over Penfield Marine to create large-scale crude and product tanker company

Maersk Tankers has completed the acquisition of Penfield Marine, creating a large-scale crude and product tanker company offering pool partners and cargo customers a wider range of services.

The newly merged entity will manage approximately 240 vessels, including around 45 vessels owned by affiliated companies.

The transaction was completed on 2 January but the two parties have not disclosed any financial details.

Together, Maersk Tankers and Penfield Marine will leverage their complementary capabilities to offer a variety of solutions meeting the growing demand on ship owners to deliver attractive returns and cut emissions. Additionally, cargo customers will get access to a broader service range to cover their transportation needs within more segments, according to a statement.

"Penfield Marine has over the years built a solid position and presence in the industry and is a perfect match to Maersk Tankers. Our combined commercial and operational expertise will allow us to grow our presence as a commercial manager and extend our service offerings within performance optimisation and decarbonisation to a broader segment of customers and pool partners. We look forward to welcoming Penfield’s customers, partners and our new colleagues to Maersk Tankers," stated Tina Revsbech, CEO of Maersk Tankers.

Penfield and Maersk Tankers will maintain ongoing operations without alterations to their regional presence, ensuring a smooth integration process for employees, pool partners and customers.

The merged entity will operate under the name and brand of Maersk Tankers, with its headquarters located in Copenhagen, Denmark. Tina Revsbech will serve as Chief Executive Officer (CEO), Tim Brennan will be the Chief Commercial Officer (CCO) and Eric Haughn will become the Chief Operating Officer (COO) of the company.

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