Blue Lines exits MR sector

Blue Lines exits MR sector

Blue Lines Shipping continues to trim its tanker fleet. Sources says the Dubai-based outfit has offloaded the 2008-built MR tanker Bursa.

If finalised the sale will mark an exit from the MR sector for Blue Shipping leaving it with two six-year old aframax tankers.

The Bursa has been a rather costly affair for the Middle Eastern tanker player. Blue Lines bought the ship for $22m in June last year, and now sources says it fetched a disappointing $17.4 m, significantly lower of what online portal VesselsValue.com values the ship at.

Brokers tell Splash that Island Navigation, part of the Hong Kong Tung family empire, is behind the purchase.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.

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