Konig abdicates four Kings

Konig abdicates four Kings

Brokers report that four ships owned by Germany’s Konig & Cie, and managed by Mercator Navigation, have just been offloaded. Four of Konig’s oldest handysize tankers fetched a total price $45.3m, brokers note.

The same ships were reported sold for some $5m more en bloc at the beginning of  February to Indian interests.

The ships sold are the three Hyundai Mipo-built, 37,000-dwt  King Ernest and King Edward, built in 2004, and the similar sized King Everest, built in 2001, and the Guangzhou-built, 38,000-dwt King Emerald, built in 2004.

Last year the same outfit sold the 15-year-old, 37,300 dwt King Eric.

One report notes that the buyers are rumored to be private equity firm S1 Capital, something Splash was unable to verify.

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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