HMM adds two more VLCCs

South Korea’s HMM is spending some of its box riches bolstering its VLCC arm. Brokers report HMM has bought two three-year-old VLCCs from Singapore’s Sentek Marine, paying $185m en bloc for the pair of scrubber-fitted, 300,000 dwt ships, which come with an undisclosed time charter attached. The Hyundai Samho-built tankers are named Neptune M, and Pacific M.

Three months ago HMM bought the C Guardian VLCC for $98m, and followed this up swiftly with a $108m purchase for another VLCC, G. Dream, fresh from the slipway.

Secondhand VLCC prices have been rising for months. The Baltic Exchange on Friday pushed up its five-year-old VLCC prices to $90.6m. Year-to-date, VLCC five-year values have surged by 25.2%.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.
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