Xihe Holdings and its subsidiaries, part of the Lim family business empire, were put earlier this year under court-appointed supervisors.

The agreement aligns with its strategy to create scale through partnerships driven by the use of digitalization to reduce CO2 emissions and increase partner returns, Maersk Tanks said. The operated fleet of Maersk Tankers has risen to more than 220 ships since the beginning of 2020, an increase of over 20 percent .

“We are pleased about the trust shown in us by Xihe and its lenders.We will increase the tradability of the vessels and harness our commercial and digital expertise to boost their performance, providing attractive financial returns to them and our existing pool partners," stated Claus Gronborg, Chief Investment Officer at Maersk Tankers.

Maersk Tanks' MR Pool has already joined the first of the four vessels, the Ocean Mercury, with the next three vessels, two MR vessels and a 9,500 dwt tanker, joining the fleet over the coming weeks.

Maritime Business World