China’s Kunlun Shipping has added its third vintage VLCC this year, winning a bid for a ship put up for sale some six weeks ago.
The China-Middle East player has this time tapped Taiwan’s most active seller, Formosa Plastics, for the 2001-built Formosapetro Challenger. The tanker went for $19m according to broking reports, while it had a market a market value of $18.74 m from VesselsValue when it was first circulated for sale.
The sale leaves Formosa Plastics with a fleet of 54 vessels in its fleet. Formosa Plastics has sold 14 ships since the start of last year.
Kunlun, on the other hand, has added two similar aged VLCCs this year from its South Korean friend, Sinokor.