Under the terms of the arrangement, nine of the ships will be chartered back to Maersk Product Tankers bareboat. All 14 vessels will remain under Maersk Tankers' commercial and technical control.

The modern MRs sold were previously owned by AP Moller Holding and Mitsui & Co. of Japan in a Singapore joint venture.

Maersk Tankers' fleet today, which has seen plenty of sales and acquisitions over the past two years, stands at 77 vessels with a further eight on order at DSIC, according to online pricing portal VesselsValue.

“The sale that we are announcing today is an important step in our strategy of continually adjusting Maersk Product Tankers’ fleet composition and size to generate attractive financial returns for our owners,” stated Claus Gronborg, chief investment officer at Maersk.

Maritime Business World