European Maritime Finance partnering with Atlas Maritime has announced the sale of the 2007-built Dakota Strength aframax tanker for a very firm $39.5m delivering a return of respectively 220% and 115% for the two separate directly done investments. The identity of the buyer has not been revealed.
“This investment will provide yet another successful return for our clients and continue to build our long-term reputation for achieving excellent returns to our investors. We are proud of our long-standing partnership with Atlas Maritime. We originally purchased the vessel in 2019 for $21.25m,” commented Martin Haugaard, CEO of European Maritime Finance.
The sale follows on from recent sales of two new aframaxes – Delaware Star and Galveston Star – for $77.5m each.
“The best returns in shipping require a counter-cyclical approach and an early mover advantage, both on the way in and on the way out. We continuously monitor the markets, study the fundamentals and strive to identify the next undervalued sector,” said Leon Patitsas, the CEO of Atlas Maritime.
