Maersk Tankers adds 83 ships to pools as it seals Penfield Marine deal

Maersk Tankers has confirmed its purchase of US pool operator Penfield Marine in a deal that creates one of the world’s largest tanker operations.

Under the deal, confirmed on Monday and previously reported by TradeWinds, the combined pool will manage some 240 vessels. Financial terms were not disclosed.

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Maersk Tankers said the extra 83 Penfield-managed vessels will mesh with its existing fleet, adding new tanker sectors and strengthening the pool operator in new areas of the world.

Connecticut-based Penfield will add ships including suezmax and aframax crude carriers to the pools.

The acquisition, completed on 2 January, is the biggest deal struck by Copenhagen-based Maersk Tankers since Tina Revsbech took over as CEO last September.

Her appointment followed a series of management moves at Maersk Tankers as its tanker pool was cut in number, largely because of structural changes in the industry following Russia’s invasion of Ukraine.

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.”

TradeWinds first reported the deal in November after the privately run Penfield had sought a buyer for its operations.

The outfit was led by former Heidmar executives Tim Brennan and Eric Haughn. The new combined outfit will operate under the Maersk Tankers name, based in Copenhagen.

Brennan, the Penfield CEO, will join the Maersk Tankers management team as chief commercial officer.

“Joining Maersk Tankers offers Penfield the opportunity to be part of an unmatched tanker pooling business with excellent long-term growth prospects,” he said.