JP Morgan Global Maritime, the shipowning unit of US investment bank JP Morgan, has acquired two 2018-built MR tankers from Greek owner Top Ships.

Shipbroking house Advanced Shipping & Trading reported that JP Morgan had bought the two 49,700 DWT Hyundai Vinashin-built sister ships  "Eco Holmby Hills" and "Eco Palm Desert" for a price of $35m each.

The deal will mark JP Morgan's entry into the tanker sector. It had previously been focused on bulk carriers and cleared out its bulker fleet over the past couple of years.