May 22, 2018 4:18 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Maersk Tankers A/S

Company Overview

Maersk Tankers A/S owns and operates a fleet of product tankers. The company transports energy products, such as refined oil products through its vessel fleet. Its crude tankers are used to transport crude oil from production sites to refineries in Asia, Europe, and the United States; and product tankers are used to transport refined oil products, such as gasoline, diesel, kerosene, jet oil, or fuel oil between North America and Europe. The company’s fleet includes LR2 tankers, handy and medium range tankers, and intermediate tankers. The company was founded in 1928 and is based in Copenhagen, Denmark. As of October 10, 2017, Maersk Tankers A/S operates as a subsidiary of Apmh Invest A/S.

Nicolai Eigtveds Gade 28, 4th

Copenhagen K

Copenhagen,  1402

Denmark

Founded in 1928

Phone:

45 33 63 53 00

Fax:

45 33 63 48 78

Key Executives for Maersk Tankers A/S

Chief Executive Officer
Chief Financial Officer
Managing Director of Handy Tankers
Managing Director of Commercial - LR2 Pool
Head of LR2
Compensation as of Fiscal Year 2017.

Maersk Tankers A/S Key Developments

Maersk Tankers A/S Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2017

Maersk Tankers A/S announced unaudited earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported revenues of $206 million compared to $226 million a year ago. EBITDA was $19 million compared to $61 million a year ago. LBIT was $483 million compared to income of $28 million a year ago. Loss was $483 million compared to income of $28 million a year ago. Underlying loss was $17 million compared to income of $26 million a year ago. Cash flows from operating activities was $16 million compared to $71 million a year ago. For the six months, the company reported revenues of $434 million compared to $471 million a year ago. EBITDA was $62 million compared to $139 million a year ago. LBIT was $473 million compared to income of $75 million a year ago. Loss was $473 million compared to income of $76 million a year ago. Underlying loss was $8 million compared to income of $72 million a year ago. Cash flows from operating activities was $33 million compared to $139 million a year ago. Cash flows used for capital expenditures was $22 million compared to $82 million a year ago.

Maersk Tankers Presents at 10th Annual Capital Link Shipping, Marine Services & Offshore Forum, Sep-12-2017 01:25 PM

Maersk Tankers Presents at 10th Annual Capital Link Shipping, Marine Services & Offshore Forum, Sep-12-2017 01:25 PM. Venue: One Moorgate Place, London, United Kingdom. Speakers: Soren Christian Meyer, VP, Chief Strategy and Transformation Officer.

Maersk Tankers Announces Earnings Results for the First Quarter Ended March 31, 2017

Maersk Tankers announced earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported underlying profit of USD 9 million. The result was positively impacted by a 15% reduction in daily running cost and an increase in the number of vessels Maersk Tankers operates for other vessel owners. However, the result was negatively impacted by challenging markets where freight rates declined by 28%. As a result, Maersk Tankers' average Time Charter Equivalent (TCE) earnings decreased by 22% across product segments compared to first quarter 2016.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
September 20, 2017
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Merger/Acquisition
September 20, 2017
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