Saudi Arabian shipping giant Bahri has purchased four modern VLCCs from Korea Line Corporation, according to brokers. No price is attached to the deal, but one Greek broker suggested that the four-year-old ships could have fetched about $116m each.
The sale has been widely expected as Korea Line, part of SM Group, has been reported to be keen to exit the VLCC segment. The Korean-built ships – SM White Whale 1, SM White Whale 2, SM Venus 1, and SM Venus 2 – have been in the shop window for months.
Sales of modern tanker tonnage are rare as prices are at historically high levels.
