Maersk Tankers' managed fleet grows to 240 vessels with Penfield acquisition

The combined company will manage around 240 vessels, including approximately 45 vessels owned by affiliated companies. Maersk has declined to reveal the value or terms of the deal, which closed on 2 January 2024. 

In a statement on the acquisition, the companies said that they will continue to operate as normal, "with no changes to regional presence" as they undertake the process of integrating the respective businesses’ employees, pool partners and customers.

The combined company will operate under the Maersk Tankers name and brand and will be headquartered in Copenhagen, Denmark. Tina Revsbech will be the CEO. Penfield’s website lists a total managed fleet of 76 vessels across Panamax, Aframax and Suezmax vessel classes. 

Penfield’s Tim Brennan will join the combined company’s management team as chief commercial officer (CCO), while founding Penfield partner Eric Haughn will retain his current role as chief operating officer (COO). 

"Together, Maersk Tankers and Penfield Marine will leverage their complementary capabilities to offer a variety of solutions meeting the increasing demand on shipowners to deliver attractive returns and cut emissions. Cargo customers will get access to a broader service range to cover their transportation needs within more segments," the companies said.

Maersk Tankers’ CEO, Tina Revsbech, said “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."

Maersk Tankers has recently been steadily expanding its footprint in vessel management and branching out into the gas carriers segment, launching a voyage management standalone service handling 12 gas carriers for two owners and later signing a deal with Japanese LPG distributor and trader Astomos to be voyage manager for five very large gas carriers, with the potential to add further vessels.

Maersk Tankers also placed an order for as many as 10 very large ammonia carriers in early December 2023.