Pelagic Partners makes second tanker asset play as it cashes in on past investments

Pelagic Partners, a maritime investment vehicle established by Atef Abou Merhi and Niels Hartmann, has realised a handsome profit on a 19-year-old product tanker sold for further trading to China.

This is the second tanker asset play achieved by the Cyprus-based fund manager since the sale of a sister ship last year.

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Abou Merhi confirmed divesting the 50,900-dwt Pelagic Tarpon (built 2006) — an ice-classed ship that brokers reported as sold for $14m.