South Korea’s Sinokor has sold its 2001-built VLCC Pacific Glory to fast growing Kunlun Shipping. Brokers report the Imabari-built tanker fetched a price of $23.5m, a deal highlighting the changing fortunes in the tanker trades over the last few months.
to fast growing Kunlun Shipping. Brokers report the Imabari-built tanker fetched a price of $23.5m, a deal highlighting the changing fortunes in the tanker trades over the last few months.In early November Kunlun, part of state-owned China National Petroleum Corporation, bought a similar sized, identically aged, Korean VLCC for $21.5m.
This marks Sinokor’s first VLCC sale for many years. In the last couple of years it has been busy buying secondhand tonnage as well as ordering a pair of newbuilds at compatriot, Hyundai Heavy Industries.
