Shanghai registered Kunlun Shipping has emerged as the taker of Moundreas’s NGM Energy’s oldest VLCC, adding the 17-year-old 309,700 dwt Alter Ego I, renamed Tian Ying Zuo, a ship that fetched $21.50m, according to VesselsValues sales register.
It is unclear what the elderly workhorse will be used for at the time of the sale. Some suggested the ship might be used for storage, while othesr argue that with the current improved rates for VLCCs, the ship would most likely continue to trade.
Another NGM Energy VLCC, the 20-year-old 281,000 dwt Atak, has also ended up in Kunlun’s fleet in the last couple of months for $17m. This ship has been renamed Tian Ma Zou.
Kunlun added its first VLCC in 2016 from John Fredriksen’s Frontline, adding the 1998-built, 311,000 dwt Front Century, renaming it CCPC Vanguard.
Kunlun’s parent is state-owned China National Petroleum Corporation.