Danish ocean carrier A.P. Møller-Maersk A/S on Wednesday
agreed to buy Sweden's Broström AB in a cash deal worth 3.62
billion Swedish kronor ($568 million). Already the world's largest container carrier, the Copenhagen buyer
is looking to the deal to boost its fleet of owned and long-term
chartered ocean tankers to more than 138 vessels from 76.
Continue reading below
The vessels are used to transport refined oil products such as gasoline and diesel fuel, as well as chemicals including methanol and ethanol, across long distances. The combined company will preside over a 241-strong fleet, including managed product tankers, with combined 2007 sales of $1.23 billion.
The acquisition comes amid growing demand for energy transportation in light of the planned global phase-out for environmental reasons of single-hull tankers by 2010. -
Renee CordesSee full story on TheDeal.com
