Ridgebury confirms tanker fleet for sale

Ridgebury confirms tanker fleet for sale

Ridgebury Tankers has confirmed that it has put its fleet of suezmax, aframax and MR product tankers up for sale, revealing the move in its third quarter results released today.

As Splash reported last month, the company has formally offered the vessels for sale individually or en bloc, today’s statement saying it has retained American Marine Advisors to “explore the sale of some or all of the vessels owned by Ridgebury” excluding the VLCCs it has recently acquired.

“Ridgebury has not made a determination regarding the potential sale, and there can be no assurance that Ridgebury will decide to sell any vessels,” the statement said.

The vessels for sale comprise Ridgebury’s seven suezmaxes, six MR product tankers and two aframaxes.

RT Holdings generated third quarter revenue of $43.1m and an EBITDA of $32.1m, while Ridgebury Crude posted revenue of $27.4m and an EBITA of $21.2m.

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.

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