China VLCC sells two

China VLCC sells two

China VLCC has entered into agreements to sell two of its six- to seven-year-old VLCCs to Marshall Island-registered entities for a total price of $133m.

China VLCC, which is a 51:49 joint venture between China Merchants Energy Shipping (CMES) and Sinotrans, has agreed to sell a 297,600-dwt and a 297,400-dwt vessel to the single-ship companies Tilos Shipping Corp and Delos Shipping Corp.

The former vessel could be New Medal (built 2009) or New Coral (built 2010); the latter vessel could be New Founder (built 2008) or New Talent (built 2009), according to shipping databases.

The sales agreements are subject to approval by China VLCC’s board of directors. No further details about the deal were disclosed.

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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