Changed ownership of Swift Tankers
Logistics Insight Asia - Industry News, 17/6/2008
A.P. Moller - Maersk has agreed to acquire Teekay Corporation’s 50% share in Swift Tankers Management A/S. This includes taking over Teekay Corporation’s portfolio of 13 intermediate vessels – all of which are time chartered from a number of owners – and thereby taking over Teekay Corporation’s activities in the Intermediates market. A.P. Moller - Maersk consequently becomes sole owner of Swift Tankers.
Swift Tankers operates 24 intermediate (10-20,000 DWT) product and chemical tankers, from its primary location in Copenhagen as well as a subsidiary office in Stavanger, Norway.
The transaction, which is subject to regulatory approvals, will be effective as of 1st July 2008.
For more information on Swift Tankers, please visit www.swifttankers.com.
Teekay Corporation, www.teekay.com
A.P. Moller – Maersk, www.maersk.com
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