Oslo-listed chemical tanker specialist Team Tankers International has appointed strategic advisors to “support corporate activity, M&A and divestment opportunities” as it looks to maximise the value of the company and its assets.
The company has also launched a $2.5m share repurchase programme, believing that its value is in excess of the current share price. It says the recent sales of a number of vessels were at prices well above prices implied by the share price.
Clarksons Platou Securities has been retained as sole financial advisor and manager for the share repurchase program.
Team Tankers has been a major driver of consolidation in the chemical tankers sector, sealing a $206m deal last year to acquire Laurin Shipping and Anglo-Atlantic Steamship Company, growing its fleet to over 50 vessels.
