Geneva-based commodity trading and asset investment firm Montfort has revealed a significant investment in second-hand MR tankers.

Montfort Maritime, the shipping arm of Montfort, has arranged to acquire two Japanese-built medium range (MR) product tankers from Maersk.

The company has confirmed the acquisition of the 48.020-dwt Maersk Maru (2011-built) and 47.990-dwt Maersk Mississippi (2010-built), both Singapore-flagged vessels from Maersk.

In accordance with Equasis data, the registered owner of the ships is Maersk Tankers Singapore Pte.

Montfort said these Japanese MRs present an opportunity, as “near-term earnings potential” and “long-term asset value,” are well-aligned.

According to Montfort, both vessels recently completed extensive drydocking and special survey work and are currently positioned in a commercially attractive age segment.

Meanwhile, Montfort said that it structured a deal – earlier this year – with Union Maritime for two modern HMD MRs, Tweed (2019) and Witham (2020), reflecting a consistent approach to securing assets from “selective sellers.”