Genesis Energy LP (NYSE: GEL) has closed a $157 million deal for the M/T American Phoenix from Mid Ocean Tanker Co.
The American Phoenix is a tanker with 330,000 barrels of cargo capacity. The vessel has long-term charters into 2020, including one with an oil company.
The buyer is a midstream energy company, headquartered in Houston. The company provides pipeline transportation, refinery services and supply and logistics.
The seller, which announced its intention to buy the target in October, is a South Norwalk, Connecticut-based owner and operator of tankers.
Several other shipping deals have been announced recently. In August, the shipping investment company formed by Kohlberg Kravis Roberts & Co. LP (NYSE: KKR) and Borealis Maritime bought nine vessels. In May, Signet Maritime picked up eight vessels from Harvey Gulf International Marine.