Hong Kong’s Nan Fung Shipping, a privately owned conglomerate with four decades in shipping, has exited the VLCC trades, selling the 17-year-old 281,000 dwt Asia Dawn.
.The ship has been with Nan Fung since 2006. Splash understand that the Ishikawajima Harima Heavy Industries-built tanker has been sold to Hsejar Maritime, an Indian company known as a demolition buyer, for just under $50m, $20m more than a sister ship would have been sold for 12 months ago.
According to data compiled by the online pricing portal VesselsValue, the sale leaves the Hong Kong outfit with eight older aframaxes valued at $300m.
