Endo Group has announced the acquisition of a vessel through the proceeds of the $14.1 million (€13.4 million) sale of the MV Endo Breeze, which funds have also been used to advance a payment on account of another marine vessel to be acquired in the coming months.

Endo Ponente (formerly MT Mandume), joined Endo Group subsidiary Endo Tailwind Maritime Limited’s fleet on 8th June, with the tanker now being registered under the Maltese flag.

As per BalticShipping.com, the Endo Ponente, an oil and chemical tanker, was built in 2010 by Chinese shipbuilder Jinglu Ship Industry. It has a length of 99m, a breadth of 18m, and a gross tonnage of 4,776 tons.

Endo Group said that the vessel has successfully completed the appropriate structural and condition inspections.

It also informed the market that a first priority mortgage on the Endo Ponente has been registered in favour of custodian GVZH Trustees, in its capacity as trustee of the Endo Trust for the benefit of bondholders.

The purchase was financed through part of the proceeds of the sale of the MV Endo Breeze in December 2022.

Also financed through the proceeds of that sale is an advance payment on account of another marine vessel to be acquired in the coming months, “in keeping with the Endo Group’s commitment to continue to strengthen its existing fleet of marine vessels in line with its current operating model.

“The company will keep the market informed of developments in this regard, as necessary.”

Headquartered in Malta, Endo Group consists of Endo Ventures Ltd as the parent company, along with Endo Finance plc, International Fender Providers Ltd, Endo Properties Ltd, and Endo Tankers Ltd as its subsidiaries.

Through its portfolio of companies, the group acquires, finances, manages, and charters commercial vessels, as well as provides ship-to-ship and mooring master services.