Connecticut’s MT Maritime Management and a US arm of Denmark’s AP Moller-Maersk have sold off a quartet of 20-year-old MR tankers at prices that show continued strength amid a flurry of deals.

Brokers in the US and Greece said MT Maritime has sold a trio of chemical and product tankers built at South Korea’s Hyundai Mipo Dockyard at prices that show less than $1m in value loss, despite a decade in the fleet of the US owner and operator.

The 46,800-dwt MTM Manila, MTM Mumbai and MTM Yangon (all built 2003) were sold for $14.8m each.

That comes roughly 10 years after MT Maritime purchased the vessels for $15.5m each in an en-bloc deal.

The company did not immediately respond to TradeWinds’ request for comment.

The buyer has not been disclosed, but some brokers said Chinese interests are behind the deal.

The epoxy-coated tankers can carry cargoes that fit under the IMO II and III chemical-handling standards.

Meanwhile, brokers said Maersk’s US-flag arm has sold the 47,000-dwt Maersk Michigan (built 2003) for $14.5m. Maersk Line Ltd operates the epoxy-coated product carrier, built at Japan’s Onomichi Dockyard, in US-flag trades but not under the US Jones Act.

Maersk does not comment on market transactions, but a source with knowledge of the deal said the sale comes at the age limit for US Navy charters. It is considered likely that the Maersk Michigan will exit the US flag.

The vessel also has a special survey due in July, according to US shipbrokers.

TradeWinds reported on Tuesday that sale-and-purchase markets are awash with MR product tanker deals amid high demand from buyers and strong asset prices.

VesselsValue estimates for the Maersk and MT Maritime tankers show values for ships of these characteristics have slipped since December, when the MTM Manila peaked at $15.3m.

But before November, its value had not been above $14.5m since 2016.

The last MR2 tankers built in 2003 in South Korea fetched just $13m in February, although they had dry-dockings due.

Harry Papachristou
contributed to this story