Idan Ofer-controlled Eastern Pacific Shipping has jumped on Elantra’s modern suezmax tanker, paying a hefty price of nearly $76m.
Multiple industry sources have reported the Singapore-based diversified owner taking the 2018-built Elandra Osprey from the Vitol-backed outfit for around $75.5m. The ship was bought by Elantra from Restis family tanker vehicle Golden Energy Management as Energy Trophy for $62.5m in 2019.
from the Vitol-backed outfit for around $75.5m. The ship was bought by Elantra from Restis family tanker vehicle Golden Energy Management as Energy Trophy for $62.5m in 2019.Prices of secondhand crude tankers have reached their highest level in 15 years, backed by a reconfigured global oil trade after Russia’s invasion of Ukraine.
As the hot market scrambles for available tonnage with secondhand units approaching newbuild prices, BIMCO’s chief shipping analyst, Niels Rasmussen, earlier this year noted an increase in the value of five-year-old suezmaxes at 85% of new ships being commissioned for construction.
A first deal of its kind this year, however, has already set a benchmark for modern South Korean-built suezmax, VesselsValue estimates to be worth $71.9m. For comparison Geneva-based Advantage Tankers recently booked a 158,000 dwt unit at DH Shipbuilding in South Korea for $81m, while UAE-based Teodor Shipping is paying Samsung around $86m. Spiros Polemis-controlled Polembros also ordered a pair of suezmaxes in China for early delivery in the second quarter of 2025, but the price has not been revealed.
