Angelicoussis Group company buys Altera Shuttle Tankers' fleet

Maistros Shiptrade Ltd, an Angelicoussis Group company, has agreed to purchase Altera Infrastructure’s full holdings in its Altera Shuttle Tankers LLC subsidiary.

Altera Shuttle Tankers (AST) owns and operates 18 shuttle tankers in Brazil, Canada and the North Sea, while the Angelicoussis Group is one of the world’s largest privately owned shipping groups, with 144 vessels on the water and 23 vessels, including three shuttle tankers, on order.

According to the parties involved, the combined shuttle tanker fleet will be one of the largest fleets in the segment.

“I am pleased to announce that one of our affiliated companies has signed a deal to acquire Altera Shuttle Tankers,” said chief executive of the Angelicoussis Group Maria Angelicoussis. “Together, AST and our group are firmly positioned to offer best-in-class services to clients across the expanding shuttle tanker market.”

The deal, which requires regulatory approvals, is expected to close in the first half of 2025.

Altera Infrastructure acting chief executive Duncan Donaldson said, "We believe that under new ownership, this segment will continue to grow, supported by a strong strategic vision and deep industry expertise. While we move through this transition, our focus remains on delivering safe and reliable operations and ensuring a seamless handover."