BP sells eight aframaxes to Union Maritime

BP sells eight aframaxes to Union Maritime

BP’s dramatic pruning of its older ships continues apace with brokers reporting an en bloc deal for eight aframaxes. Subject to financing, the UK’s Union Maritime is tipped as the buyer of the British Gannet, British Mallard, British Cormorant, British Cygnet, British Robin, British Eagle, British Kestrel and British Falcon. The ships – all built in 2005 and 2006 – have fetched an en bloc price of $108m, according to broking sources.

BP Shipping has been dramatically slimming down its fleet in the past 12 months, with all ships over the age of 12 targeted for offloading.

While Union Maritime’s fleet is still heavily weighted towards tankers it has been building up a dry bulk base. The CEO of the London-based company is Laurent Cadji, a Moroccan ex-Morgan Stanley trader and Splash understands the company is owned by Nigerian-Indian interests.

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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