Mercator quits VLCC trades with sale of famous ship

Mercator quits VLCC trades with sale of famous ship

One of most famous VLCCs of all time has changed hands. The 2006-built Nerissa, owned by India’s Mercator, has been sold for $34m after much interest from Greek buyers. The ship is understood to have been bought by Greece’s NG Moundreas.

The Chinese-built Nerissa achieved fame when it was sold 10 years ago for $170m, one of the highest prices ever paid for a single VLCC.

Mercator had been operating the ship in the Seawolf Tankers pool managed by Heidmar.

The sale marks Mercator’s exit from the VLCC sector. Two weeks ago Mumbai-headquartered Mercator announced it had sold a product tanker, Vedika Prem, to meet its debt obligations.

 

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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