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19 March 2018 The on-line newspaper devoted to the world of transports 02:08 GMT+1

March 1, 2018

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Team Tankers International buys the companies Laurin Shipping and Anglo Steampship

The transactions will have a total value of about 206 million dollars

Team Tankers International, society been born on ashes of the shipowning group Norwegian Eitzen place in liquidation in 2012, has tightened agreements in order to buy the entire capital stock of the companies Laurin Shipping and Anglo enclosed Steampship Company their branches. The total value of the transactions will pile to about 206 million dollars.

Team Tankers International (former Eitzen Chemical), that he is founded in 2014 with center to the Bermudas and that has between the main shareholders financials institution J.P. Morgan Securities, Barclays Capital and Euroclear Bank, has a fleet of 36 ships to chimichiere of ability comprised between 8.000 and 46.000 gross capacities in tons constructed between 1998 and 2011, of which 29 of property. With the new acquisitions the consistency of the fleet of Team Tankers will go up to 52 ships.

Currently the Swede Laurin Shipping has a fleet of 15 to chimichiere of 47.000-50.000 gross capacities in tons about constructed between 2002 and 2016, while Anglo Steampship, that it has center in the Isle of Man, has a fleet of 16 to chimichiere of about 53.000 gross capacities in tons constructed between 2002 and 2016, of which is of property.

The transactions, besides the acquisition of Laurin Shipping and Anglo Steampship, will include the six ships of property of Anglo let alone three units of the company rented to bare boat and others six rented to time, the acquisition (already capacity to term) of the chimichiera Tosca of Anglo, that it is constructed in 2004, and the acquisition previewed for the next May of three ships currently rented to bare boat from Anglo with the relative options for their acquisition.

Announcing today the next transactions, the managing director of Team Tankers, Hans Feringa, he has remembered that the society has communicated at the market the necessity of a consolidation in the field of the ships to chimichiere, consolidation - he has specified - towards which the acquisition of Laurin Shipping and Anglo Steampship constitutes the first step. Feringa has specified that Team Tankers has estimated that the current level of the prices of the assets in the picture of the economic cycle of the shipping more constituted a reason than valid for these investments.

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