Moundreas makes tidy profit from VLCC asset play

Moundreas makes tidy profit from VLCC asset play

Nicholas G Moundreas’s NGM Energy sale and purchase department is busy. Less than two weeks after taking two suezmaxes from Dr Peters Group, NGM has pocketed $3.2m in profit from the sale of the 15-year-old Vida, a ship the company acquired in October last year for $22.8m. The ship has been sold to unspecified Middle Eastern interests for a firm $26m.

Clarkson Research noted in its most recent weekly report: “Whilst the appreciation in asset values is clear, the timing of the purchase will also have allowed the owner to enjoy the positive end to 2018. However, the pricing is still slightly firm relative to market expectations.”

NGM now has 20 tankers in its fleet.

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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