Moundreas flips last VLCC

Greek owner Nicholas George Moundreas and his NGM Energy is reported flipping his last VLCC.

NGM Energy is reported selling the 2007-built 314,000 dwt My Way to UAE-based buyers. Brokers report the ship fetched between $36 and $37m. The crude tanker was bought as Takahashi from Nippon Yusen Kaisha (NYK) in August last year for $34m.

This is the second VLCC play by Moundreas. In 2019 NGM Energy tapped India’s Mercator for a 2006-built VLCC for $27.5m. In November last year this ship was sold to Rune Shipholding. No price tag was attached to this deal however, VesselsValue indicates that the ship, then named Respect, fetched $30m.

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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