Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Lauritzen sells 10 product tankers to Hafnia

Lauritzen sells 10 product tankers to Hafnia
J Lauritzen has sold its ten wholly-owned product tankers to Hafnia Tankers, as part of their exit from the sector.

The sales will boost Lauritzen's cash reserves by $125m, with $10m to be invested in Hafnia.

Speaking to Seatrade Global, Jan Kastrup-Nielsen, president & ceo of J Lauritzen, commented on the future of its eight time-chartered and six managed vessels, "Some of the time charters are short term and will run their course, some of the others are a little longer and we are not sure what will happen with those yet. The managed vessels will change manager, but as to where is for the owners to decide."

Of the ten vessels, nine were built between 2010 and 2013 and are between 50,000 and 52,300 dwt, with the 2004-built, 45,967 dwt Freja Atlantic completing the fleet.

In its first half earnings release in August, the company announced its gradual exit from the product sector as one of a number of measures aimed at trimming its balance sheet.

TAGS: Hafnia