Chemical tanker operator Team Tankers International will acquire all outstanding shares in Laurin Shipping and Anglo-Atlantic Steamship Company.
Both companies being bought in the US$206 million transaction are engaged in the medium range (MR) tanker sector. The deal will be completed on April 6.
Team Tankers' Chief Executive Officer Hans Feringa said the deal includes newbuild MR Tosca, the purchase of Laurin Shipping and the purchase of Anglo-Atlantic, a ship-owning company with six owned, three bareboat chartered and six time-chartered MRs.
There is also an expected purchase in May of three MRs currently bareboat chartered by Anglo-Atlantic.