Nasdaq CopenhagenIFRS · USD

MAERSK TANKERS A/S

MAERSK TANKERS A/S is a Denmark-based shipping company focused on operating and managing a fleet of tankers used to transport refined petroleum products and industrial chemicals. Its business spans vessel operations, technical and commercial management, and related shipping services for the global seaborne energy and chemicals markets.

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Revenue295m USD
−16.4 %y/y
Operating profit (EBIT)11.9m USD
−75.3 %y/y
EBIT margin4.0%
−9.6 ppy/y
Net income6.8m USD
−82.7 %y/y

Fiscal year 2025 · change from previous year

Development 2024–2025

0100200300400m USD2024: 353 m USD2024: EBIT 48 m USD20242025: 295 m USD2025: EBIT 12 m USD202529512
RevenueOperating profit (EBIT)
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Business

Share of revenue
Product tanker services45 %

Transportation of refined petroleum products such as gasoline, diesel, naphtha and jet fuel.

Chemical tanker services25 %

Transportation of industrial chemicals and, in some trades, edible oils and related liquid cargoes.

Fleet management20 %

Commercial and technical management of tanker vessels, including deployment and operations support.

Other shipping services10 %

Ancillary income tied to vessel-related services, contracts, and shipping operations.

Customers

The company serves charterers that need ocean transport for refined products, chemicals, and other liquid bulk cargoes. Customers are typically oil majors, trading houses, chemical producers, and industrial shippers that require flexible tanker capacity across global trade routes.

Oil and fuel charterers

Buy tanker capacity to move refined petroleum products between refineries, terminals and distribution hubs.

Chemical producers

Charter chemical tankers for industrial and specialty liquids that need segregated and flexible transport.

Commodity trading houses

Use the fleet for spot and contract shipping tied to arbitrage and global product flows.

Industrial and food-grade cargo shippers

Ship edible oils and similar liquids that can be carried on product/chemical tankers.

Strategy

The company’s strategic position is built around operating a flexible tanker fleet that can serve both product and chemical cargo markets. Its priorities typically center on vessel deployment, fleet utilization, commercial discipline and maintaining operational capability across volatile shipping routes.

Optimize fleet deploymentShort term

Tanker earnings depend on placing ships on the most attractive routes and cargoes.

Preserve operational capabilityMedium term

Reliable vessel performance and technical management are central to customer trust and fleet availability.

Maintain flexibility across cargo typesLong term

A vessel mix that can serve multiple liquid cargo markets broadens chartering opportunities.

Geography

Maersk Tankers operates globally, reflecting the international nature of tanker trade routes and cargo flows. Its business is exposed to shipping activity across major refining, consumption and export regions, with vessels deployed where product and chemical demand creates voyage opportunities.

Risks

The business is exposed to tanker freight cycles, fuel-price swings, and changes in global oil and chemical trade patterns because revenue depends on vessel deployment and market demand. It also faces operating, regulatory and environmental risks tied to ship safety, emissions rules, charterparty performance and the capital-intensive nature of the fleet.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Freight market volatility1Environmental and safety regulation2Global trade and commodity demand shifts3Operational disruption and marine incidents4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Freight market volatilityImpact: HighLikelihood: High

    Tanker earnings are linked to spot and contract shipping demand, which can change quickly with trade flows.

    Exposure: Fleet deployment and charter income

  2. Environmental and safety regulationImpact: HighLikelihood: High

    Shipping is subject to emissions, vessel safety and port-state controls that can increase costs or restrict operations.

    Exposure: Fleet compliance and operating costs

  3. Global trade and commodity demand shiftsImpact: HighLikelihood: Medium

    Reduced refining activity or weaker chemical demand can lower voyage opportunities and cargo volumes.

    Exposure: Product and chemical tanker demand

  4. Operational disruption and marine incidentsImpact: MediumLikelihood: Medium

    Accidents, off-hire periods or technical issues can interrupt service and create repair or liability costs.

    Exposure: Vessel uptime and insurance claims

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Accounting

Judgemental items
Revenue recognition

Shipping revenue may be recognized based on voyage completion, charter terms or service delivery, affecting timing and comparability.

Derivatives

Hedging instruments can introduce mark-to-market gains or losses and affect reported profit and equity.

Leases

Vessel and equipment leases create right-of-use assets and liabilities that change leverage presentation.

Provisions and contingencies

Claims, disputes, and operational obligations can require judgment on recognition and measurement.

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Last updated: 24/10/2026

MAERSK TANKERS A/S (XCSE) – Financial Analysis & Key Metrics – Clarifo