International Seaways snaps up Gener8 VLCC

International Seaways snaps up Gener8 VLCC

New York-headquartered tanker owner International Seaway continues to expand its fleet with the acquisition of a 2010-built VLCC, a deal confirmed in the company’s third quarter financial report.

The 318,300 dwt vessel  Gener8 Zeus was acquired from compatriot company Gener8 Maritme, as reported in Splash’s regular S&P column Weekly Broker last week. Brokers priced the acquisition at $53m, which International Seaways confirmed.

The vessel, which was delivered to the company in November and renamed Seaways Raffles, will commence trading in the Tankers International pool.

Lois Zabrocky, president and CEO of International Seaways, commented: “We are pleased with our initial progress growing and modernizing our fleet, which has enabled International Seaways to reduce the average age of its fleet and increase our size on a DWT basis.”

International Seaways also took delivery last quarter of a pair of resale suezmax tankers which it acquired from Hyundai Samho in June.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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