Ridgebury Mulling Tanker Fleet Sale

Oslo-listed Ridgebury Holdings is looking into selling some or all of its tankers, including the ones owned by Ridgebury Crude Tankers, and keep only the four very large crude carriers (VLCCs) bought by the company’s subsidiary, Ridgebury V4 Investments, back in July.

The Connecticut-based Ridgebury confirmed the interest in selling its tanker fleet in the financial report for the third quarter of 2015.

The vessels which are potentially up for sale include 2 Aframax, 6 MR and 7 Suezmax tankers.

The company has not yet made a definite decision to sell the tanker fleet.

Ridgebury ended the third quarter of 2015 with a revenue of USD 43.1 million and EBITDA of USD 32.1 million, bringing nine month revenue to USD 124.4 million and EBITDA of USD 91.4 million.

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Posted on November 20, 2015

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