Maistros Shiptrade acquires Altera’s Shuttle Tankers
Altera Infrastructure has entered into an agreement to sell all its membership interests in Altera Shuttle Tankers (AST) to Maistros Shiptrade, a company affiliated with the Angelicoussis Group.
Altera Infrastructure is a leading global energy infrastructure services group primarily focused on the ownership and operation of critical infrastructure assets in offshore oil regions of the North Sea, Brazil, West Africa and the East Coast of Canada. Altera Shuttle Tankers, a shuttle tanker provider, owns and operates 18 shuttle tankers.
The Angelicoussis Group, with its HQ in Athens, Greece, is one of the world’s largest privately owned shipping groups dating back to 1947. Through Athens-based companies, Maran Tankers Management, Maran Gas Maritime and Maran Dry Management, the Group operates a modern, diversified fleet serving the oil, gas and dry cargo markets. It has 8,500-plus employees, 144 vessels on the water and 23 vessels on order.
This transaction brings together Altera Infrastructure’s shuttle tanker business and the Angelicoussis Group, strengthening the business through a shared foundation of maritime expertise and industry heritage.
With this alignment, the combined shuttle tanker operation is well positioned to strengthen its position as one of the largest global fleets in its segment, benefitting from the experience and operational strengths of both parties.
Maria Angelicoussis, CEO of the Angelicoussis Group, said:
“AST’s long-standing relationships and highly sophisticated fleet of tankers, combined with a common culture of excellence and commitment to a sustainable future, mean that together, AST and our Group are firmly positioned to offer best-in-class services to clients across the expanding shuttle tanker market.”
Duncan Donaldson, Acting CEO of Altera Infrastructure, commented:
“This agreement marks the beginning of an exciting new chapter for our shuttle tanker business with a buyer that shares our core values, particularly in safety, sustainability, teamwork and innovation. We believe that under new ownership, this segment will continue to grow, supported by a strong strategic vision and deep industry expertise.”
Completion of the transaction is conditional upon receipt of relevant regulatory approvals. Subject to receipt of such approvals, completion is expected to take place in the first half of 2025.