Maersk Product Tankers Completes Sale And Leaseback Agreement
Maersk Product Tankers has entered a sale and leaseback agreement for four MR vessels built in 2015 and 2016 with the Industrial and Commercial Bank of China (ICBC).
“The agreement will increase financial flexibility and strengthen the financial position of Maersk Product Tankers,” says Morten Mosegaard, Chief Financial Officer at Maersk Product Tankers.
Maersk Product Tankers continues to hold a strong balance sheet. The company further has an attractive newbuilding programme, which was contracted in a market where prices were at a low point in their cycle.
“The sale and leaseback agreement releases significant capital, which gives us additional optionality to act if the right opportunity materialises. This will create further value for our customers, partners and owners,” says Mosegaard.
Maersk Product Tankers will bareboat charter-in the vessels for a period of ten years and has continuous purchase options on the vessels. Maersk Tankers continues to undertake commercial and technical management of the vessels.
The first vessel has been delivered to ICBC with the remaining ones to be delivered in the second quarter of 2019.
Reference: maersktankers.com
Disclaimer :
The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Disclaimer :
The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
Do you have info to share with us ? Suggest a correction
About Author
Marine Insight News Network is a premier source for up-to-date, comprehensive, and insightful coverage of the maritime industry. Dedicated to offering the latest news, trends, and analyses in shipping, marine technology, regulations, and global maritime affairs, Marine Insight News Network prides itself on delivering accurate, engaging, and relevant information.
About Author
Marine Insight News Network is a premier source for up-to-date, comprehensive, and insightful coverage of the maritime industry. Dedicated to offering the latest news, trends, and analyses in shipping, marine technology, regulations, and global maritime affairs, Marine Insight News Network prides itself on delivering accurate, engaging, and relevant information.
Latest Shipping News Articles You Would Like:
Subscribe To Our Newsletters
By subscribing, you agree to our Privacy Policy and may receive occasional deal communications; you can unsubscribe anytime.