During its days as a small part of Danish shipping conglomerate AP Moller-Maersk, Maersk Tankers probably would not have thought of fleet expansion when market conditions weakened.

Container and logistics firms took the spotlight alongside capital investments in the publicly-listed Maersk group, which eventually decided to divest from energy-related businesses three years ago.

But Maersk Tankers has transformed itself into the world’s largest commercial manager of product tankers since being taken private in October 2017 by AP Moller Holding, which is the largest shareholder in Maersk.