Maersk Supply Service to Divest up to 20 Vessels

Image Courtesy: Maersk Supply Service

Maersk Supply Service, a part of Danish shipping and offshore energy conglomerate Maersk Group, is divesting up to 20 vessels over the coming 18 months and reducing its crew pool by 400 offshore positions.

The company said that the divestment plan is a response to vessels in lay-up, limited trading opportunities and the global over-supply of offshore supply vessels in the industry.

“One of Maersk Supply Service’s prime objectives is to attempt to restore the supply demand balance in the offshore supply market. This is why the vast majority of the divested vessels will be recycled or modified by their new owners to compete outside their present segments,” CEO of Maersk Supply Service, Jørn Madsen, said.

Maersk Supply Service will flag its four Stingray new-buildings to the Isle of Man registry. A commercial hub will be established in the United Kingdom consolidating ownership and operation of the company’s project vessels. This includes the Stingray vessels and five existing project vessels that will also be flagged to the Isle of Man registry.

As a consequence of the fleet reduction and the flagging of existing project vessels to the Isle of Man registry, around 400 crew members will be made redundant as a “necessary step to safeguard the future” of Maersk Supply Service, Madsen added.

The redundancy process is expected to be finalised by the end of September 2016.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Apr 2018 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

Singapore Maritime Technology Conference and Exhibition (SMTC) 2018

The 3rd Singapore Maritime Technology Conference and Exhibition (SMTC) 2018 is organized by the Maritime and Port Authority of Singapore…

read more >

Singapore Maritime Week 2018

Singapore Maritime Week (SMW), organised annually by Maritime and Port Authority of Singapore (MPA) and attracts…

read more >

8th Dredging & Land Reclamation World Summit 2018

The 8th Dredging and Land Reclamation Summit 2018 will gather the decision makers from Authorities and Operators responsible for ports…

read more >

Shipping 360

This course is ideal for those who have recently joined the maritime sector and those who need to have a better understanding…

read more >