Maersk Product Tankers has entered an agreement with China Development Bank Financial Leasing Co., Ltd (CDBL) for the sale of 14 product tankers at a total value of USD 422m.

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 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,” says Claus Gronborg, Chief Investment Officer at Maersk Tankers. “We are pleased that CDBL has entrusted Maersk Tankers to undertake the management of the vessels, and we will harness Maersk Tankers’ digital, commercial and technical expertise to deliver attractive financial returns to CDBL while lowering the vessels’ CO2 footprint.”

Maersk Tankers is today managing more than 220 vessels and is looking to grow further. The growth benefits both pool partners and cargo customers. With more ships available, the company can offer greater flexibility to customers in transporting their cargoes. This also helps optimise the utilisation of the fleet, which can contribute to lower CO2 emissions and higher earnings for pool partners.

The 14 vessels will be delivered to CDBL during the coming months.

Source: Maersk Product Tankers