Maersk Product Tankers seals sale and leaseback of four MRs

Maersk Product Tankers seals sale and leaseback of four MRs

Maersk Product Tankers has entered into a sale and leaseback agreement with China’s ICBC for four MR tankers.

The first vessel has already been delivered to ICBC, and the others will be delivered before the end of June. Maersk Product Tankers will charter the four vessels, all built in 2015 and 2016, for a period of 10 years and has purchase options on the vessels throughout the charter.

Morten Mosegaard, CFO at Maersk Product Tankers, commented: “The agreement will increase financial flexibility and strengthen the financial position of Maersk Product Tankers.

“The sale and leaseback agreement releases significant capital, which gives us additional optionality to act if the right opportunity materialises. This will create further value for our customers, partners and owners.”

Maersk Product Tankers is owned by A.P. Møller Holding and Mitsui & Co and has a fleet of over 80 vessels.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

Related Posts

1 Comment

  1. Avatar
    Dm
    May 18, 2019 at 1:56 am

    Maersk Tankers is in deep trouble. They have cut salaries for all junior officers and now they want to sell their second-newest ships? Embarrassing and disgraceful attitude for a company so big. No one should have faith in it.