Seward & Kissel represents Penfield Marine in connection with its acquisition by Maersk Tankers

January 10, 2024

On January 8, 2024, Maersk Tankers announced that it has acquired Penfield Marine to create a large-scale crude and product tanker company offering pool partners and cargo customers a wider range of services. Together, Maersk Tankers and Penfield Marine will leverage their complementary capabilities to offer a variety of solutions meeting the increasing demand on shipowners to deliver attractive returns and cut emissions. Seward & Kissel is pleased to have represented Penfield Marine in connection with this transaction.

Headquartered in Copenhagen, Denmark, Maersk Tankers and affiliated companies operate one of the largest tanker fleets in the world through direct ownership and commercial management solutions for shipowners. Penfield Marine operates tankers around the world in its Panamax/LR1 pool, Aframax/LR2 pool, and Suezmax pool and provides shipping services to a wide array of clients, which includes chartering customers (major oil companies and oil traders), pool members, and shipping investors. The combined company will manage around 240 vessels, including approximately 45 vessels owned by affiliated companies.

Seward & Kissel LLP ( is a leading New York law firm, originally established in 1890, offering legal advice emphasizing business, financial and commercial law and related litigation. The firm’s Business Transactions Group handles middle-market M&A, private equity, venture capital and joint venture transactions involving a wide variety of industries. The firm is ranked as Highly Regarded for Corporate/M&A by Chambers USA and is recommended by The Legal 500 in the middle-market M&A category, stating that Seward & Kissel “advises on market-leading transactions within the industries where the firm has an international reputation, namely investment management and shipping.” The firm’s Capital Markets and Corporate Securities Group represents issuers, investment banks and investors in a broad range of equity and debt capital markets transactions.

The company’s press release describing this transaction can be accessed here.