Abu Dhabi-based Al Seer Marine has completed the sale and delivery of the very large crude carrier Twin Pollux.
The sale forms part of the fleet management strategy of the company as it seeks to release capital from existing assets for reinvestment elsewhere in its commercial shipping fleet.
Al Seer Marine said the decision was made amid elevated vessel valuations and changing market conditions.
The company described the transaction as part of a countercyclical approach to fleet management, involving asset sales during periods of higher valuations.
“Active fleet management requires discipline around both investment and divestment,” said Chief Executive Officer Guy Neivens.
“The profitable sale of Twin Pollux demonstrates our ability to identify the right point in the market to realise value and redeploy capital where we see stronger return potential,” he added.
The company said it would continue assessing opportunities across commercial shipping and its wider maritime operations while applying its existing investment criteria.