Aware of the elevated prices on offer, Gulf Energy Maritime (GEM) of Dubai put its entire fleet of 11 tankers for sale at the end of April and within a month sales have filtered in.
Broking sources tell Splash that the 19-year-old Middle Eastern owner has accepted offers for five Korean-built LR1s and is now marketing its remaining handysize tankers for sale.
The 17-year-old trio, Gulf Coast, Gulf Horizon and Gulf Pearl, fetched around $61.2m, whilst the 2009-built duo, Gulf Coral and Gulf Crystal, were sold for $60m en bloc. Buyers of the ships have yet to be revealed.
