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Maersk Tankers sells 14 MRs for $422m

Maersk Tankers has sold 14 product tankers to CDB Leasing for $422m, the Chinese bank revealed in a release to the Hong Kong Stock Exchange today.

Under the terms of the deal, nine of the vessels will be bareboat chartered back to Maersk Product Tankers. All 14 vessels will remain under the commercial and technical management of Maersk Tankers.

The modern MRs sold were previously operated in a Singapore joint venture between AP Moller Holding and Japan’s Mitsui & Co.

“The sale that we are announcing today is an important step in our strategy of continually adjusting Maersk Product Tankers’ fleet composition and size to generate attractive financial returns for our owners,” said Claus Gronborg, chief investment officer at Maersk Tankers.

According to online pricing portal VesselsValue, Maersk Tankers’s fleet today, which has seen plenty of sales and acquisitions over the past two years, stands at 77 vessels with a further eight on order at DSIC.

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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