Malaysia’s MISC has announced that American Eagle Tankers (AET) has completed the acquisition of a 50% stake in Paramount Tankers from Victor Restis-controlled Golden Energy Tanker Holdings.
Paramount Tankers was a joint venture between the two companies established in 2010, that owns and operates six aframax vessels.
AET is paying $59.3m for the stake.
Captain Rajalingam Subramaniam, president and CEO of AET, commenting when the deal was first announced in April said: “Acquiring the Paramount JV in its entirety allows us to own and operate all six vessels on our own. We are the commercial managers for the vessels and have commenced taking over the technical management.”
“The vessels are of a high-quality design and built to our lightering specifications and can trade worldwide to serve our global client needs,” Subramaniam continued.
