The remaining 20% stake in Ahrenkiel Tankers will remain with the current owner, MPC Capital Group.

Norway’s Wilhelmsen Ship Management has reached an agreement to purchase an 80% stake in Hamburg-based Ahrenkiel Tankers for an undisclosed sum.

Under the agreement, the management of five tankers will be transferred to the third-party ship manager.

The remaining 20% interest in Ahrenkiel Tankers will continue to be held by the current owner, MPC Capital Group.

Wilhelmsen Ship Management CEO and president Carl Schou said: “This acquisition is a clear statement of our intent to expand in the tanker segment. Ahrenkiel Tankers has developed a strong reputation for reliable tanker management and represents an ideal fit with Wilhelmsen Ship Management given our common values of environmental responsibility and safety, aligned with a high level of competence.

“We now look forward to growing in the tanker segment by applying our management expertise that has been proven over many years with a track record of safe, sustainable, and cost-effective operations.”