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Evangelos Marinakis snaps up 14-year-old Japanese VLCC

Evangelos Marinakis’s Capital Maritime and Trading has moved to further take advantage of solid VLCC rates up around the $100k per day mark, by acquiring 2005-built 300,000 dwt VLCC Jin Ei according to brokers.

Advanced Shipping & Trading and Seasure Shipbroking are both reporting that Capital have acquired the tanker from Japan’s Kyoei Tanker, with Advanced reporting a price of $35m and Seasure a price of $34.5m. The vessel currently has a market value $35.8m according to VesselsValue.com, up sharply from a market value of $27.2m just six months ago.

The Jin Ei will join six other VLCCs in the Capital Maritime and Trading fleet, and leaves Kyoei Tanker with four VLCCs on the water. The Japanese company is awaiting imminent delivery of three newbuild VLCCs, two from JMU and one from Namura.

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Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

Comments

  1. Bravo Evangelos!

    Xpistos Tingus
    Singapore and Boston

    *kindly keep me in mind if you see a VLCC I can use for storage in a one to three year lease as I require for storage purpose Singapore.

    Thanks.

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