Benetech takes LR1 for $17m

In the products sector Japan’s Doun Kisen Kaisha has sold its ten-year-old LR1  Fortune Victoria to Greece’s Benetech Shipping for a price, Clarkson Research reports is just in excess of $17m.

“Despite a lack of concluded transactions in the LR1 space around this age, the price is considered strong compared to expectations, which is no doubt reflective of a lack of Japanese or Korean built alternatives for sale,” Clarkson noted in its most recent weekly report.

The latest acquisition takes the Benetech fleet into double figures.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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