The five ships, 26,000 dwt, with stainless steel cargo parts, were constructed in China in 2016 and 2017. The purchase of each vessel is scheduled to close between December 2020 and February 2021. Further terms of the deal have not been disclosed.

"This acquisition is an excellent opportunity for Stolt Tankers to replace ships being retired in the next few years, lowering our fleet age profile with competitively priced ships that can trade in any of our deep-sea lanes.  Newer, fuel-efficient ships help us reduce our carbon footprint while buying existing tonnage means capacity is not added to a market that doesn't need it," stated Stolt Tankers President, Lucas Vos.

Maritime Business World