The Singapore-based Trafigura Group, which mainly specialises in in the trading of raw materials but also active in the maritime transport and logistics, acquired from Gearbulk Holding 50% of the capital of High Heat Tankers (HHT), which has a fleet of 14 tankers, becoming the sole owner of the company. HHT was established in 2018 by Gearbulk and Puma Energy Supply and Trading of the Trafigura group.

HHT tankers have a capacity of between 15,000 and 37,000 deadweight tons. On the occasion of today's announcement of the acquisition of the entire share capital of HHT, the Trafigura group has also announced an order against of the Chinese shipyard Chengxi Shipyard for the construction of a 17,500 LPT tanker that will be delivered to High Heat Tankers in 2026.

Gearbulk president Kristina Jebsen explained that Gearbulk has decided to sell its stake in HHT, an operation which includes the transfer to HHT of three tankers that Gearbulk has rented a charter, as part of the process of modernising the own fleet of open hatch bulk carriers.