Maersk Product Tankers sells 14 ships to CDBL

Denmark-based tanker owner Maersk Product Tankers has entered into an agreement with China Development Bank Financial Leasing (CDBL) for the sale of fourteen product tankers.

As informed, the fleet has been sold to CDBL for a total of $422 million.

Under the terms of the deal, nine of the vessels will be bareboat chartered back to Maersk Product Tankers. All fourteen vessels will remain under the commercial and technical management of Maersk Tankers.

The ships will be delivered to CDBL during the coming months.

“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,” Claus Gronborg, Chief Investment Officer at Maersk Tankers, explained.

“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 Product Tankers is owned by A.P. Møller Holding A/S and Mitsui & CO. Ltd., and has its headquarters in Copenhagen. The services for the vessels owned by Maersk Product Tankers are handled by Maersk Tankers, and include commercial management, technical management and corporate services. Maersk Tankers is today managing more than 220 vessels and intends to further expand its fleet.