Maersk Tankers has confirmed an order for six LR2 newbuildings with China’s Dalian Shipyard, exercising six of ten options it has at the yard.
“The current market makes the investment attractive because it offers competitive asset prices. The fleet renewal will help to sustain a competitive fleet that is meeting customers’ demands and retain a strong market position in the LR2 segment,” the company said in a statement.
The six vessels will be delivered over a period of two years commencing 2020.
Soren Meyer, chief strategy officer at Maersk Tankers, commented: “Once delivered, the vessels will be under Maersk Tankers’ commercial, technical and corporate management. This increases the scale of the fleet we manage and provides vessel data, contributing to our strategy of delivering industry-leading commercial performance.”
Maersk Tankers was sold by A.P. Møller – Mærsk last year to APMH Invest, a subsidiary of A.P. Moller Holding, the family investment vehicle of the Mollers, for $1.17bn. It has a fleet of 161 product tanker vessels, of which 80 are owned.
I find it ironic, this column and the other on China’s shipyards that are subsidized, being posted on the same day. Are European owners spoon feeding the success of Chinese yards, while contributing to the demise of their own shipbuilding industry?? Most modern big box ships and tankers are shuttling everything from China to Europe, direct trade. Yet most of these ships built in China, with Asian crews. Europe has no concern for the long-term situation this is creating? USA much the same, though our Jones Act does a little to slow the incoming tide at least with regard to domestic coastwise trade. But Europe doesn’t even have that? Awareness is much of the problem, the lack of it. But someday soon, in my lifetime certainly, the world will be at the mercy of Chinese dominance of the actual transport of cargo all around the world, in the most important markets. THEN, you will see command and control of rates at the hands of their gov’t, albeit behind the scenes. There will be no alternative as shipyards and all the skilled workers needed will be gone. Similarly with the operation of the majority of ships at sea, flying third world flags, owned by China, with Asian crews.
What a sad state of affairs. And the industry, our own industry, has nobody to blame but themselves.