maersk belfast tanker

File Photo: Image courtesy Maersk Tankers

Maersk Tankers Sells 14 Product Tankers for $422 Million

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December 8, 2020

Maersk Product Tankers has announced an agreement for the sale of 14 product tankers, a portion of which will be bareboat chartered back to the company.

The agreement on the sale was reached with China Development Bank Financial Leasing Co., which will purchase the vessels at a total cost of $422 million.

Nine of the vessels will be bareboat chartered back to Maersk Product Tankers and all 14 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 currently managing more than 220 vessels and the company says it is still looking to grow.

“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,” Maersk Tankers said in statement.

The 14 are expected to be delivered to CDBL in the coming months. Maersk Tankers did not specify which vessels were included in the sale.

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