Maersk Tankers acquires and re sells four VLCCs to Euronav


Following the divestment of its 15 owned VLCCs in January 2014, Maersk Tankers remain active in the crude segment only through six bareboat chartered vessels.

Morten H. Engelstoft, CEO Maersk Tankers, said: “We have decided to pursue an exit of these unprofitable charters by purchasing the vessels from their current owners with the intention to subsequently resell them at an appropriate time.”

Maersk Tankers has now reached an agreement to acquire four of the six vessels from the current owners at an attractive price. At the same time we are pleased to announce that we have entered into an agreement to sell the four vessels to Euronav.

“This transaction will contribute a good upside to our bottom line in 2014 and continues our strategy to become a pure product tanker company,” said Morten H. Engelstoft.

The four vessels are Japanese built VLCC vessels (H-class) with an average age of three years. Three of the vessels will be delivered to Euronav in 2014 and the last vessel will be delivered in the second quarter of 2015.