EuropeFinance and InsuranceTankers

Energyfund Sweden cuts its tanker exposure

Energyfund Sweden and Ridgebury Tankers have sold their jointly held suezmax tanker Ridgebury Pallas to India’s Seven Islands Shipping. No price was revealed for this tanker transaction between parties that know each other well.

During the last six months, Energyfund Sweden has also divested the aframax tanker Pallas Orust and the suezmax tanker Bastia. Pallas Orust was sold to Soechi Lines and Bastia, which was jointly owned with Euronav, Tufton and Ridgebury, was also sold to Seven Islands Shipping.

Co-ownership of the suezmax tanker Bari is now the last tanker on Energyfund Sweden ́s books as investments in wind power ramp up.

“I am very pleased with the timing and returns for these three asset plays and look forward to future projects in the energy logistics and tanker industry with our partners around the globe,” commented CEO Fredrik Johansson.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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