Maersk Tankers has snapped up a fleet of seven handysize product tankers from Malaysian shipowner AET, paying $93.5m in an enbloc sale.
Both parties confirmed the deal for seven 38,000-dwt product and chemical carriers which were built by South Korean yard STX Offshore & Shipbuilding in 2009 and 2010. The vessels are IMO chemical-handling type 2 and 3 units.
Neither company would disclose the price for the transaction.
A spokesperson for AET said the ships will be delivered between now and the first quarter of 2020.
Denmark-based Maersk Tankers said it will operate the vessels in its Handy pool.
Hans Ulrik Norgaard, head of chartering for intermediate and handysize vessels at Maersk Tankers, said the AET ships will help the company sustain its strong commercial position and drive market outperformance.
“The specific design and age profile of the vessels fits very well into our Digital Active Position Taking efforts, as they can be deployed in any market, any grade and to any customer," Norgaard said.
Commenting on the sale, AET's spokesperson said: “The decision to scale back the chemical fleet is in line with AET’s strategic portfolio review. The organisation continues to maintain its product business through its LR2 and MR fleet."
Brokers said the vessels were floated on the market for sale mid-year.
'Not straightforward animals'
They commented that the ships are quite specialised, with 18 MarineLine coated tanks that enable them to carry a wide range of products and chemicals.
"They are not straightforward animals and so not everyone's cup of tea," one commented.
The specialist nature of the vessels makes them difficult to value as there are few deals with ships of this type to compare.
It's a good deal for Maersk, But when is anything not a good deal for Maersk
S&P broker
One shipbroker cited the recent sale of the 37,857-dwt oil and chemical carrier Alpine Hibiscus (built 2010), which fetched $13.9m, as the nearest reference point.
Maersk Tankers' enbloc price roughly values the AET vessels at $13.4m apiece.
"It's a good deal for Maersk," one S&P broker said. "But when is anything not a good deal for Maersk."
Fleet renewal
Aside from being a buyer, Maersk Tankers also appears to be renewing its fleet.
Brokers said the 37,000-dwt tankers Maersk Erin and Maersk Edgar (both built 2004) have been sold for $9.35m to an undisclosed buyer.
They said this price is in line with expectations for the CSC Jinling Shipyard-built vessels.
Brokers have also said that three other Maersk Tankers vessels have been circulated for sale in recent weeks. They are the 35,200-dwt Rita Maersk and 36,900-dwt Maersk Etienne (both built 2004), and 35,200-dwt Roy Maersk (built 2005).
The 37,961-dwt Bunga Allium (built 2010)
The 37,961-dwt Bunga Angelica (built 2010)
The 37,961-dwt Bunga Angsana (built 2010)
The 38,001-dwt Bunga Aster (built 2010)
The 37,960-dwt Bunga Azelea (built 2010)
The 37,961-dwt Bunga Akasia (built 2009)
The 38,005-dwt Bunga Alamanda (built 2009)
Harry Papachristou contributed to this article.
