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Advantage Tankers snaps up China VLCC trio

Geneva-based Advantage Tankers has acquired a trio of Chinese-built  tankers from China VLCC, according to brokers.

According to both Advanced Shipping & Trading and Seasure Shipbroking, Advantage has agreed a deal for 2009-built New Creation and New Talisman as well as 2010-built New Coral, with the deal now on subjects. The price of the 2009-built vessels is $46m each and the 2010-built vessel $48m, which is pretty much in line with valuations from VesselsValue.

Advantage Tankers is controlled by Gulsun Nazli Karamehmet Williams, the daughter of Turkey’s richest man, Geden Holdings owner Mehmet Emin Karamehmet. It currently has a fleet of 17 tankers, made up of two VLCCs, five suezmaxes, five aframaxes and five MR1s.

Last month, the company agreed a deal with Greek owner Olympic Shipping and Management for a pair of aframaxes, but the deal later collapsed.

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Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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