Mercator abdicates from LR sector with sale of King Darwin

Mercator abdicates from LR sector with sale of King Darwin

Hamburg’s Mercator Navigation is exiting the LR tanker sector. Broker reports show the company’s oldest and last LR has finally sold, with Singapore’s Clearlake reportedly paying $13m for the 11-year-old King Darwin.

The sale comes hot on the heels of Mercator Navigation letting go of two 10-year-old LR tankers, the King Daniel and King Douglas, for $13.5m each, leaving the Ernst Russ-backed company to focus on small boxships. The company has 16 boxships listed on its site.

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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