George Moundreas and his firm NGM Energy have sealed an aframax sale in today’s rising market.
The outfit has been after testing the market for months. At end of June, sources told Splash that the Athens-based owner was selling the Japanese-built Baroness for $33m, earning $11m in the process. Now the active outfit has finally let go of the 105,335 dwt tanker, squeezing $2m more for the ship.
Clarksons notes that the strong price is in line with the recent firming of asset values within the sector.
The 105,000 dwt Sumitomo-built ship was purchased for $22m in December 2020.
Large tankers are among NGM Energy’s favourite ships. In March NGM Energy flipped its last VLCC, selling the 2007-built 314,000 dwt My Way for $36m, a ship it had bought in August last year for $34m.
Moundreas has been polishing his tanker arm’s average age since the beginning of 2021, selling a two-digit number of tankers.
