Denmark: Maersk Leases Two Vessels from Cido Shipping

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Denmark: Maersk Leases Two Vessels from Cido Shipping


Maersk Tankers, the tanker shipping unit of Danish shipping and oil group A.P. Moller-Maersk (MAERSKb.CO), said on Monday it would lease two vessels from Korean shipping management company Cido Shipping.

The two very-large crude carriers (VLCC) would be taken on long-term bare boat and would be delivered from Universal Shipyard in Japan in November and December 2011, Maersk Tankers said.

When taking vessels on long term bare boat, the company leases the vessels without crew.

“It is Maersk Tankers’ ambition to grow in the VLCC segment and become industry leaders, without adding to capacity,” said Head of Crude Claus Gronborg. “Securing existing high quality and fuel efficient vessels when the timing is right is a part of the plan.”

Gronborg also said cooperation with other owners through pooling of vessels or other forms of partnerships was of interest to the company.

By Mette Fraende(Reuters)

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