Kunlun takes another ageing Sinokor VLCC

Kunlun takes another ageing Sinokor VLCC

China’s Kunlun Holdings has added its second VLCC this year, tapping South Korean friend Sinokor for the 2002-built Gulf Glory. A price of $24m has been reported by brokers for this tanker deal.

At the beginning of the year Sinokor sold another 2001-built VLCC, Pacific Glory, to fast growing Kunlun, as Sinokor is getting ready to take delivery off a string of VLCC newbuildings.

In November last year Kunlun bought a similar sized, identically aged, Korean VLCC for $21.5m.

VesselsValue data shows that the outfit now has five vintage VLCCs in its stable.

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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