Maersk Tankers Acquires Penfield Marine to Expand Crude Oil and Product Tanker Business

Maersk Tankers, based in Copenhagen, has recently acquired Penfield Marine, a commercial management company, to expand its crude oil and product tanker business and offer a wider range of services. The combined company will manage approximately 240 vessels, including those owned by affiliated companies, and will operate worldwide through various pools. Penfield Marine, founded in 2012, serves a diverse clientele and will benefit from the acquisition by joining an unrivaled tanker pooling company with long-term growth prospects.

The acquisition allows Maersk Tankers to extend its decarbonization offering to pool partners and adds value to customers, pool partners, and employees. The combined company will operate under the Maersk Tankers name and brand, with headquarters remaining in Copenhagen. The CEO of Penfield Marine, Tim Brennan, will join the management team as Chief Commercial Officer, and the financial details of the acquisition, completed on January 2, 2024, were not disclosed. Maersk Tankers CEO Tina Revsbech looks forward to welcoming Penfield’s customers and partners to the new company and expanding its performance optimization and decarbonization services to a broader segment of customers and pool partners.

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