Team Tankers appoints strategic advisors to find new value opportunities

Team Tankers appoints strategic advisors to find new value opportunities

Oslo-listed chemical tanker specialist Team Tankers International has appointed strategic advisors to “support corporate activity, M&A and divestment opportunities” as it looks to maximise the value of the company and its assets.

The company has also launched a $2.5m share repurchase programme, believing that its value is in excess of the current share price. It says the recent sales of a number of vessels were at prices well above prices implied by the share price.

Clarksons Platou Securities has been retained as sole financial advisor and manager for the share repurchase program.

Team Tankers has been a major driver of consolidation in the chemical tankers sector, sealing a $206m deal last year to acquire Laurin Shipping and Anglo-Atlantic Steamship Company, growing its fleet to over 50 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.

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