Denmark’s Torm has added to its fleet again in a $97m deal for three secondhand MR2 tankers.
The Copenhagen-listed company said it has agreed to acquire 2013-built eco vessels for $48.5m in cash and 1.42m shares, equating to another $48.5m.
This gives a price per ship of $32.3m. The seller has not been named.
This week, TradeWinds reported that Danish owner Navigare Capital sold the 51,000-dwt Navigare Pars (built 2012) for $32m as MRs continued to change hands at a rapid rate.
This ship was valued at $29m by VesselsValue, having risen from $20m a year ago.
Torm, which is controlled by Oaktree Capital Management, has a product tanker fleet of 88 ships.
The latest additions were all built at a “tier one” South Korean yard.
Delivery will take place by 31 May.
The cash element of the transaction is expected to be financed through traditional bank loans.
Earlier this year, Torm confirmed the purchase of seven LR1 tankers at a lower price than expected.
This deal nearly doubled its fleet of LR1s at a cost of $233m.
Previous reports pegged the value at closer to the $240m estimation by VesselsValue.
The company confirmed that all the ships were built between 2011 and 2013 at South Korean and Chinese shipyards.
Brokers later reported the sellers were Jo Tankers of Norway and ST Shipping of Singapore, the shipping arm of giant trader Glencore.
Torm offloaded eight older tankers last year, adding only an LR2 built in 2016.