Winson bags cheap vintage VLCC

Winson bags cheap vintage VLCC

DS Tankers has sold its 1999-built DS Commander VLCC to Winson Oil for $16.5m. Clarkson Research notes in its most recent weekly report that the sale is illustrative of softening prices for vintage VLCCs.

“Whilst it is important to consider that the vessel will be delivered to the new buyers with its dry docking due imminently, the pricing represents a step down in value relative to the last transaction for vessels of this age. The deal illustrates the current trend across the crude space, where values are falling at the older end of the spectrum, but are on the rise for ships aged around 10 years and younger,” Clarkson Research reported.

Founded in 1998, Winson Oil today has offices in Hong Kong, Singapore, Taipei and Dubai. Its mixed tanker fleet now stands at 23 ships.

In January Splash reported Winson had taken an aframax on subjects.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Related Posts