Al Seer Marine completes VLCC divestments as fleet age declines
Abu Dhabi-based Al Seer Marine has completed the sale and delivery of the very large crude carrier (VLCC) Twin Castor, concluding a two-vessel divestment programme aimed at reducing the age of its directly owned commercial fleet.
The disposal of the 2013-built tanker follows the sale of sister vessel Twin Pollux in September 2026. According to the company, both transactions were profitable and took place during a period of strong second-hand tanker values, allowing Al Seer Marine to exit its older vessels while retaining exposure to the crude oil transportation market.
Following the two sales, the average age of the company’s directly owned fleet has declined to approximately 3.8 years, compared with 5.4 years before the transactions. Al Seer Marine has also completed its exit from directly owned vessels more than ten years old.
Fleet restructuring leaves younger vessel portfolio
The company’s remaining directly owned commercial fleet comprises nine vessels, seven of which were built in 2020 or later. Its crude tanker operations continue through the 2020-built VLCC Acrux, alongside investments in product tankers and other vessel segments.
Including vessels held through joint ventures, Al Seer Marine’s commercial shipping portfolio now consists of 16 ships. These comprise one VLCC, seven medium-range product tankers, two LPG carriers, five dual-fuel very large gas carriers (VLGCs) and one bulk carrier.
The disposal of Twin Castor forms part of the company’s approach to managing vessel investments throughout market cycles. By selling older tonnage while second-hand tanker values remain favourable, Al Seer Marine aims to realise returns from existing assets and maintain flexibility for future investments.
Built in 2013, Twin Castor was sold approximately halfway through the typical 25-year operational lifespan referenced by the company. Al Seer Marine did not disclose the sale price, buyer or individual financial gain associated with the transaction.
Guy Neivens, CEO of Al Seer Marine, said the divestments were intended to maintain a younger and more competitive fleet while reducing maintenance requirements and preparing for future regulatory developments.
The company indicated that active asset management and selective investment will remain central to its commercial shipping strategy. Its wider maritime activities also include advanced maritime technologies, defence-related solutions and yacht management.
The completion of the two VLCC sales marks a further adjustment to Al Seer Marine’s vessel portfolio, with the company retaining a presence in crude oil shipping while concentrating its directly owned assets in more recently built tonnage.
