Marenave sells its last product tankers

Germany’s Marenave, which is going through extensive restructuring, has sold its last product tankers.

The Mare Atlantic and Mare Pacific, both built in Japan in 2001, fetched $6.8m per unit when sold to Dubai’s Kasco Group.

Last month Marenave sold a car carrier in its ongoing fleet disposal plan.

The company signed agreements with the majority of its banks at the end of March. The agreements include the sale of the entire Marenave fleet, although plans are then afoot to build a whole new fleet from scratch.

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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