The sale, made by MISC subsidiary AET Inc, follows an order for four 107,500-dwt units at Japans Tsuneishi Corp in late October for $260m. The total sale price for the quintet is $185m with MISC expected to book a gain of $90m from the deals with two buyers, the company said in a statement to the Bursa Malaysia on Monday. The 102,400-dwt Eagle Auriga and 95,600-dwt Eagle Corona (both built 1993) have both gone to funds administered by Norwegian investment bank ABG Sundal Collier as have the 95,600-dwt pair Eagle Carina and Eagle Centaurus (both built 1992). All four have been taken back on charter by MISC for seven years with the aggregate sale prices of the quartet $165m.
The 97,200-dwt MT Quasar (built 1989) was sold to Polar Marine of Greece for $20m with MISC taking the ship back for three years to service Malaysian oil giant Petronas. MISC said the move was made to capitalize on the current buoyant asset environment and release value for reinvesting in new, more efficient tankers. "This is in line with AET's asset management strategy in owning and operating a modern global petroleum fleet," the statement from MISC continued.
The 97,200-dwt MT Quasar (built 1989) was sold to Polar Marine of Greece for $20m with MISC taking the ship back for three years to service Malaysian oil giant Petronas. MISC said the move was made to capitalize on the current buoyant asset environment and release value for reinvesting in new, more efficient tankers. "This is in line with AET's asset management strategy in owning and operating a modern global petroleum fleet," the statement from MISC continued.