Ernst Russ moves into tankers with four-ship newbuild deal

Frankfurt-listed shipowner Ernst Russ is branching into tankers, agreeing to acquire four 18,500 dwt intermediate-class chemical/product newbuildings backed by long-term charters. The Hamburg-based owner said all four vessels will be fixed on contracts of at least five years from delivery, adding about $126m to its charter backlog. The ships are under construction at Wuhu Shipyard …

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