JP Morgan snaps up MR tanker pair from Top Ships

JP Morgan snaps up MR tanker pair from Top Ships

JP Morgan Global Maritime, the shipowning unit of US investment bank JP Morgan, has acquired two 2018-built MR tankers from Greek owner Top Ships.

Shipbroking house Advanced Shipping & Trading reported that JP Morgan has bought the two 49,700 dwt Hyundai Vinashin-built sister ships Eco Holmby Hills and Eco Palm Desert for a price of $35m each.

The deal will mark JP Morgan’s entry into the tanker sector. It had previously been focused on bulk carriers and cleared out its bulker fleet over the past couple of years.

The company currently only has two 174,000 cu m LNG carriers under construction at Hyundai Heavy Industries.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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