Maersk Product Tankers has hashed out a sale-and-leaseback deal for a quartet of MR tankers with Industrial and Commercial Bank of China.

The company did not disclose which ships were included in the agreement — simply that they were built in 2015 and 2016.

"The agreement will increase financial flexibility and strengthen the financial position of Maersk Product Tankers," said chief financial officer Morten Mosegaard.