Rio Tinto has transferred its last two tankers from its eight-vessel Newcastlemax fleet to Yasa Shipping. These two tankers, RTM Drake and RTM Tasman, built in 2013, were transferred to Yasa on the date of the deal.
Deal Details and Fleet History
This transaction was part of Rio Tinto's process to reduce its maritime fleet this year, and Yasa is now the owner of five out of the eight Newcastlemax tankers of the company. In April, Rio Tinto also sold two sister tankers, RTM Cartier and RTM Zheng, both built in 2012. The price for these two tankers was estimated at around $90 million at that time. Now, these tankers operate under the names Yasa Team and Yasa Unite in Yasa's fleet.
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Other Transfers and Future of the Fleet
Yasa has also purchased the RTM Cabot tanker, built in 2013, and renamed it Yasa Fortune. The official fleet list confirms that the company now has six Newcastlemax tankers. Yasa currently operates 43 dry cargo ships with a total capacity of approximately 3.56 million tons.
Earlier this year, Rio Tinto sold two other tankers named RTM Dampier and RTM Columbus to Swiss trader Mercuria for about $88 million. These tankers have been renamed Adamello and Cristallo, respectively.
Maritime sources reported in June that Rio Tinto has put the entire series of eight Newcastlemax vessels on the market, which is part of a significant reduction in the company's direct capacity. This is the first major divestment program of Rio Tinto's cargo ships in about 14 years. The company heavily relies on chartered ships for its transportation needs. According to Rio Tinto's statistics for 2025, the company will have 230 chartered ships that transport over 300 million tons of goods annually.
The transition from old Newcastlemax tankers does not mean the abandonment of this class of ships. In April, Rio Tinto signed agreements to charter two dual-fuel Newcastlemax tankers capable of methanol with Japan's NS United Shipping, which are set to be added to the company's fleet in 2028.
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