The vintage groove in tanker S&P has been replaced by sales of modern tonnage, with brokers reporting a flow of young tankers sold, reflecting that average earnings remain healthy in most segments.
Mostly cash-rich tanker owners are selling such as shipping and steel magnate, Theodore Angelopoulos and billionaire shipowner George Economou. The takers are still to be disclosed.
Theodore Angelopoulos and his tanker outfit Metrostar Management is exiting the aframax segment, selling two five-year-old ships, the 116,000 dwt Daehan Shipbuilding-built tankers, Crudemed and Crudesun.
The duo are noted sold for an eye-catching $70m each. The price tag is $5m higher than the online pricing portal VesselsValue indicates each ship is worth.
Clarksons Research suggests that these vessels might have been sold against long-term charters which would justify the price levels.
A string of MR tankers of less than 10 years are also reported sold. Some deals are concluded off-market, according to brokers.
WL Ross-backed Transport Recovery Fund is reported selling the 49,000 dwt Hyundai Vinashin-built TRF Bergen (2015) for $37m, a ship that has been trading in Hafnia’s tanker pool.
Another sale has been done by George Economou and his TMS Tankers. TMS is noted attempting to exit the handy segment selling two sisters built in SPP in Korea named Bora Bora and Lacerta. These seven-year-old ships are noted told for $40m each.
Sales chatter also surrounds a ship owned by Dong-A Tanker. This outfit looks to have finally sold the Hyundai Mipo-built, 50,000 dwt Dong A Triton for a firm $38m.
The oldest ship being reported sold that is in the ten-year or younger group is a ship sold by Constantine Peraticos-led Pleiades Shipping, which has offloaded the 10-year-old STX-built Evinos for $33.7m.
