Kunlun takes third VLCC this year

Kunlun takes third VLCC this year

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.

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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