Maersk Product Tankers completes sale of 14 vessels in an agreement with CDBL

Dec 10 2020


Maersk Product Tankers has entered an agreement with China Development Bank Financial Leasing Co., Ltd (CDBL) for the sale of 14 product tankers at a total value of USD 422m.

Under the terms of the deal, nine of the vessels will be bareboat chartered back to Maersk Product Tankers. All 14 vessels will remain under the commercial and technical management of Maersk Tankers.
 
 
“The sale that we are announcing today is an important step in our strategy of continually adjusting Maersk Product Tankers’ fleet composition and size to generate attractive financial returns for our owners,” says Claus Gronborg, Chief Investment Officer at Maersk Tankers. “We are pleased that CDBL has entrusted Maersk Tankers to undertake the management of the vessels, and we will harness Maersk Tankers’ digital, commercial and technical expertise to deliver attractive financial returns to CDBL while lowering the vessels’ CO2 footprint.”
 
 
Maersk Tankers is today managing more than 220 vessels and is looking to grow further. The growth benefits both pool partners and cargo customers. With more ships available, the company can offer greater flexibility to customers in transporting their cargoes. This also helps optimise the utilisation of the fleet, which can contribute to lower CO2 emissions and higher earnings for pool partners.
 
 
The 14 vessels will be delivered to CDBL during the coming months.
 
 



Related News

$15.2m Investment in a Chemical Tanker

(Jan 14 2021)

The Board of Tufton Oceanic Assets Limited is pleased to announce that the Company has acquired a stainless steel Chemical Tanker for $15.2m.



New Fortress Energy to acquire Golar LNG Partners LP

(Jan 14 2021)

Golar LNG Partners LP announced that it has entered into an agreement and plan of merger with New Fortress Energy Inc.



Performance Shipping Inc. announces delivery of its fifth Aframax tanker, M/T P. Yanbu

(Dec 17 2020)

Performance Shipping Inc., (the “Company”), a global shipping company specializing in the ownership of tankers, announced that in Manila, Philippines, it has taken delivery of the M/T P. Yanbu (formerly “Kalamas”), a 2011-built 105,400 dwt Aframax ta...



KNOT Offshore Partners LP announces acquisition of Tove Knutsen

(Dec 17 2020)

KNOT Offshore Partners LP (the “Partnership”) announced that its wholly owned subsidiary, KNOT Shuttle Tankers AS, has agreed to acquire KNOT Shuttle Tankers 34 AS, the company that owns the shuttle tanker, Tove Knutsen, from Knutsen NYK Offshore Tan...



WL Ross & Co. announces agreement to sell its equity interest in Navigator Holdings to BW Group

(Dec 17 2020)

WL Ross & Co. LLC ("WL Ross") announced that it has agreed to sell, on behalf of funds managed by WL Ross, their approximately 39.1% equity interest in Navigator Holdings Ltd. ("Navigator Holding") to BW Group Limited ("BW Group") at a price of $9.00...



Nov-Dec 2020

Shipping post COVID - practicality of decarbonisation - Hafnia and vessel performance