Moundreas bullish as tanker spree accelerates

Nicholas G Moundreas is reported by broking contacts as being very bullish on tankers as the year comes to an end, making significant outlays both for newbuilds and secondhand tonnage. The Greek owner’s NGM Energy has gone to China’s New Times Shipbuilding to order two firm 156,000 dwt suezmaxes for late 2020 delivery. The contract comes with two options for 2021 delivery. No price has been revealed.

In the S&P markets, NGM Energy has bought the 17-year-old 159,000 dwt SCF Altai and the 14-year-old 106,4999 dwt Petrovsk from Russia’s Sovcomflot for an en bloc price in the mid-$20ms. NGM Energy is also adding to its VLCC fleet list. It has added the 15-year-old 299,000 dwt DS Vida for $22.8m from DS Tankers and the 12-year-old 299,000 dwt Nerissa from India’s Mercator for $30m, the latter a cheap price compared to MSI’s fair market value of $32.1m. It is understood the Nerissa was inspected by many parties, but its poor condition turned most buyers away.

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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