Advantage takes Chinese VLCC duo

Advantage takes Chinese VLCC duo

Turkish outfit Advantage Tankers has emerged as the taker of two 10-year -old VLCCs from China VLCC, adding the New Medal and New Globe in a $76m deal, brokers tell Splash.

Advantage Tankers was also linked to the sale of three 18-year-old VLCCs in a $98m deal in October, but these VLCCs ended up with another owner.

Five-year-old Advantage Tankers is controlled by Gulsun Nazli Karamehmet Williams, the daughter of Turkey’s richest man, Geden Holdings owner Mehmet Emin Karamehmet.

To illustrate the fortunes to be made in the tanker segment in the final quarter of the year, the seven-year old VLCC, Brightoil Galaxy ship fetched $61.5m at an auction in September. Today, VesselsValue sets a value of $70.6m for the same ship.

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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