Dry CargoTankers

Alpha Bulkers gets wet with double VLCC order

London: Greece’s Alpha Bulkers Shipmanagement has continued its expansion into the tanker sector by ordering two 320,000-dwt VLCCs from Hyundai Heavy Industries (HHI).

The two ships were priced at $97m per unit and are expected to be delivered to the Angelicoussis-led firm in 2017, brokers tell Splash.

Alpha Bulkers’ live fleet currently consists purely of bulk carriers, being 18 capesizes and 14 panamaxes.

The Athens-based carrier began its diversification into the tanker sector this year when it placed an order for two 158,000-dwt suezmax tankers from HHI for an undisclosed sum.

Branching out of the dry sector would be a wise move. Today the spot rate for capesize bulkers is $2,800 per day, compared with $20,815 a year ago, and some bulker operators have already fallen victim to the dire market.

Conversely, tanker rates are on the up and up. VLCCs are fixing at spot rates of around $33,000 today compared with $3,148 on the same day last year.




Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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