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.