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Maersk Tankers books huge impairment on vessels

The Maersk Group's product tanker carrier, Maersk Tankers, lost more than USD 483 million in the second quarter, a deficit that pulls the group into the red. Port unit APM Terminals also booked impairments related to several ports.

Photo: Maersk Tankers

A towering impairment of USD 464 million, attributed to lower asset values, knocked Maersk Tankers off its feet in the second quarter, slapping the product tanker carrier with a net deficit of USD 483 million, shows the Maersk interim report Wednesday.

Not including the massive impairment at the tanker carrier, which pulled the group overall into the red, Maersk Tankers booked a deficit of USD 17 million, citing weak rates in the product tanker market, against a profit of USD 26 million in the same period last year.

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