König & Cie pulls back from tankers

Hamburg shipping and investment company König & Cie is trimming its suezmax fleet and exiting the handysize tanker segment.

Two 40,000 dwt product tankers, Cape Brasilia and Cape Beale, are reported sold by brokers. The two vessels had been marketed for sale for months, finally sealing an en bloc price of $18m to South Korean buyers.

In addition to this sale, Splash reported last week that the shrinking outfit is putting effort into selling four of its remaining six suezmaxes, circulating the Cape Bari, Cape Bastia, Cape Bonny and Cape Brindisi. The 159,000 dwt sister ships are for sale either individually or en bloc. MSI sets the market value of these ships at around $21.5m each.

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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