A.P. MØLLER HOLDING A/S
ANNUAL ∙ REPORT 2017
MAERSK TANKERS A/S Maersk Tankers delivered an unsatisfactory loss of USD 523m (USD 62m) due to challenging market conditions across most product tanker vessel segments
The use of algorithms in commercial decisionmaking enables the company to optimally position vessels where the customers need them the most and in markets that can yield the highest earnings. Through cost leadership, Maersk Tankers is reducing costs by creating higher efficiencies in systems and processes and improving procurement leverage.
STRATEGY REVIEW
Maersk Tankers is a leading company in the product tanker industry, transporting refined oil products globally. The company operates one of the largest fleets in the industry, comprising 164 vessels, of which 82 vessels are owned, and employs 2,300 people worldwide.
Established in 1928, Maersk Tankers has nine decades of experience and expertise in providing safe, reliable and flexible services to customers, which are oil majors and trading houses.
A.P. Moller Holding holds a 100% ownership stake in Maersk Tankers A/S. Maersk Tankers separated out its shipping assets into Maersk Product Tankers A/S during 2017.
1,625
2013
1,175
1,058
2014
2015
877
874
2016
2017
EBITDA (USDm) By commercially managing vessels, Maersk Tankers provides partners with the opportunity to increase earnings as well as flexible and transparent services while achieving scale and income for Maersk Tankers. The strategy is enabled by digitisation, combining algorithmic trading with commercial expertise to strengthen service offerings, generate new revenue streams and reduce costs. Maersk Tankers’ order book stands at nine MR product tanker vessels to be delivered in 2018—2019 as well as an optional order of 10 LR2s.
ABOUT
REVENUE (USDm)
271
297 199 89
21
2013
2014
2015
2016
2017
UNDERLYING PROFIT (USDm) 139
156 58
-47 -172 2013
2014
2015
2016
2017
FREE CASH FLOW (USDm) The fleet trades in five vessel segments: Intermediate, Handy, Medium-Range (MR), Long-Range 2 (LR2), and Aframax. Maersk Tankers’ strategy is to deliver industryleading commercial performance, cost leadership and be the preferred partner for vessel management.
971
882 106
40
-10 2013
2014
2015
2016
2017
13
