Stena Bulk will bareboat charter three MR product tankers that were sold to a Chinese leasing firm by Stena Group companies for $87m.

The transaction involves two ships that had been sold by sister company Concordia Maritime and a third sold by Stena Bulk.

Concordia reported last month that it had sold the 49,700-dwt Stena Image and Stena Important (both built 2015) to a Chinese leasing company that was not disclosed at the time.

Stena Bulk chief executive Erik Hanell has now confirmed to TradeWinds that its sistership Stena Imperial (built 2015) was included in the deal with China Development Bank Financial Leasing (CBD Leasing).

Hanell said Stena Bulk will take all three ships on bareboat charter after the deal involving Concordia and CDB Leasing.

He confirmed that the transaction is the company's first deal with CBD Leasing.

Brokers reported that the three ships were sold for an en-bloc price of $87m, with a five-year bareboat charter back at $8,250 per day.

Hanell would not confirm the financial details, but Concordia previously reported that its part of the deal had added SEK 45m ($5.15m) in net liquidity.

Concordia said it would use the funds to strengthen its financial position after it had struggled in weak markets.

The sale-and-leaseback deal came after Stena stepped in to solve a liquidity crunch at Concordia in July by agreeing to charter its fleet of 10 62,500-dwt P-Max product tankers for $15,500 per day. That deal was linked with a bank agreement for a new loan of $114m.

As TradeWinds reported on Monday, Clarksons Platou Securities has predicted product tanker owners can expect a "big winter rally" with a strong jump in earnings potential as demand recovers from pandemic setbacks.

The Norwegian investment bank foresees profits from spot deals rising significantly in the coming months, mirroring better results from crude tankers as the energy sector becomes increasingly tight.

Stena Bulk currently operates a fleet of 38 MR product tankers, according to its website, with its next largest sector being 21 suezmaxes.

In July, it revealed long-term charters from Japanese partners on two eco MR tankers being built at Hyundai Mipo Dockyard for delivery in the first half of 2022.

The 50,000-dwt, scrubber-fitted Stena Convoy and Stena Conductor are the first of five newbuildings Stena Bulk will charter in the first half of next year.