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Ship sales pave the way for new investments at Team Tankers

After divesting a number of MR tankers, Team Tankers has managed to free up a funds for new investments, says CEO Hans Feringa. The company booked another deficit in the third quarter.

Photo: Team Tankers

Team Tankers' work to sell vessels has freed up capital that the shipping company can use for new investments, says CEO Hans Feringa in connection with the chemical tanker company's third quarter interim report, which shows a new deficit on the bottom line.

"With the sale of the older MRs and certain intermediate ships, we have freed up capital for investment activity and positioned ourselves for 2020 with a more focused deep sea fleet," says the CEO, adding that the prices for sold assets in the third quarter were "well above what is implied by the 3rd quarter traded share prices".

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