Zodiac makes VLCC play with Wah Kwong acquisition

Zodiac makes VLCC play with Wah Kwong acquisition

Zodiac Maritime has made a foray into the VLCC sector. The diverse fleet controlled by Eyal Ofer had until now focused on aframaxes and suezmaxes in its crude division. Now, however, multiple broking reports are linking Zodiac Maritime with the Dalian Venture, a 2011-built VLCC belonging to Hong Kong’s Wah Kwong.

The last time the Ofer company owned a VLCC was more than a decade ago.

A very firm price of $53m has been reported for the ship – the oldest tanker in the Wah Kwong fleet.

Wah Kwong has not sold any ships since 2014. 

The Dalian Venture was one of two ships that acclaimed Hong Kong photographer Basil Pao focused on when shooting images for Wah Kwong’s well received 60th anniversary coffeetable book, A Tale of Two Ventures, published five years ago.

Wah Kwong declined to confirm the VLCC sale when contacted by Splash.

 

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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