The agreement involves three Suezmax, three MR and five Handy-sized vessels, all built in South Korea between 2016 and 2017.
Under the terms of the agreement, Maersk Tankers will take each vessel from the owner under a bareboat charter arrangement. It will then hire out the vessel to BP under a time charter deal for a period of three years.
As explained, Maersk Tankers will assume full responsibility for operational risks and the technical management of the vessels.
“With this agreement, we increase our fleet under management to 198 vessels from more than 30 different partners,” Soren C. Meyer, Chief Asset Officer at Maersk Tankers, commented.
Maersk Tankers expects to take delivery of the first vessels in early 2020, with the remaining ones to be delivered throughout the year.