Millennial VLCCs in vogue

Millennial VLCCs in vogue

Sales of elderly VLCCs built around the millennium have been filling up brokings report all year.

This week New York-listed Navios Acquisition has let go of the C. Dream. Broker sources tell Splash that the ship fetched around $21m, significantly more than the $17.89m price tag VesselsValue sets for the ship. The ship is the fifth VLCC in this age group sold so far this year. No taker is revealed to the deal however MarineTraffic shows that the ship is now Thai flagged and the name is reported to be Crystal Star, according to AIS, a suffix suggesting that Nathalin Group is behind the purchase.

Nathalin Group, and its VLCC arm Prima Marine, paid $24m for a one year younger VLCC, the VL Sakura, now Aquarius Star, for storage purposes six weeks ago. Last week Ocean Tankers reportedly paid $22.5m for Argitrade Resources’ shipping arm Sea Oriental Line’s last ship, adding the 2001-built Sea Horizon.

China’s Kunlun Holdings has added two ships in this age group, tapping South Korean friend Sinokor for two ships – Gulf Glory and Pacific Glory. These ships have gone for China-Middle East trades.

 

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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