Bloomberg News

Maersk Tankers Says Oil, Gas Fleet Has 13% Employment for 2012

November 09, 2011

Nov. 9 (Bloomberg) -- Maersk Tankers, the oil and gas shipping unit of A.P. Moeller-Maersk A/S, said so far it secured employment for about 13 percent of its fleet’s earning days next year, compared with 24 percent for the remainder of 2011.

Shipowners can lease out their vessels on long term charters, under which they are said to have contract coverage, or they can trade them in the spot market, where earnings normally fluctuate more. Maersk provided the data in its third- quarter earnings statement.

--Editor: John Deane

To contact the reporter on this story: Alaric Nightingale at anightingal1@bloomberg.net

To contact the editor responsible for this story: Stuart Wallace at swallace6@bloomberg.net


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