For an undisclosed fee, Maersk Tankers has purchased US pool operator Penfield Marine, creating a key player in the oil and product tanker industry that will oversee roughly 240 vessels. Tina Revsbech will lead the merged company, which will function under Maersk Tankers and Brand and have its offices in Copenhagen. Tim Brennan and Eric Haughn started Penfield Marine in 2012. Currently, it runs about 80 tankers in the Suezmax, Aframax, and Panamax/LR1 pools.
Eric Haughn will continue in his existing position as chief operating officer, while Brennan, the company’s CEO, will become a member of Maersk Tankers’ management team. Speaking on the same transaction, Maersk Tankers CEO Revsbech stated: Penfield Marine is a perfect fit for Maersk Tankers, having established a strong position and enduring presence in the industry over the years.
With enhanced performance optimisation and decarbonisation, the company will be able to provide its services to a wider range of clients and pool partners thanks to the combined knowledge of its commercial and operational departments. Brennan of Penfield Marine continued, “Eric and I have located the ideal residence for Penfield.”
Penfield can now be a member of an outstanding tanker pooling company with opportunities for long-term growth by joining Maersk Tankers. It enables Maersk Tankers to expand its services to the pool members in the decarbonisation process. The complementing companies will work together to provide pool partners, clients, and staff with a wide range of services and significant value.