Following its decision to exit the tanker trades, Denmark’s J. Lauritzen has sold ten of its relatively new product tankers to compatriot owner Hafnia Tankers. Nine of the ships were built between 2010 and 2013, while one dates back to 2004. All are valued at $300 million ‘en bloc’ on today’s market. Privately-held J. Lauritzen will retain its large fleet of dry bulk carriers, as well as interests in several small LPG carriers and offshore vessels.

Hafnia, of which the main shareholders are Barclays Bank and capital funds Blackstone and Tufton Oceanic, currently operates 19 fully-owned ships and is negotiating with China’s Guangzhou Shipyard for an additional eight product carriers, all to be delivered by 2016. JS


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