NGM Energy takes DS Tankers VLCC

Nicholas G Moundreas’s NGM Energy has acquired 2000-built VLCC DS Commodore from German owner DS Tankers.

According to Seasure Shipbroking, the Hitachi-built crude tanker was sold to NGM Energy for a price of $22m and the new owner has requested prompt delivery in order to deploy it into the hot crude shipping market.

It is the third vessel NGM Energy has acquired from DS Tankers this year, having bought suezmax tankers DS Melody and DS Symphony from the German owner in April.

Data from Braemar ACM shows that one in five VLCCs in operation today face restrictions from US sanctions, which has pushed up VLCC rate to over $300,000 a day in the past few days.

NGM Energy currently owns a fleet of 28 vessels made up of 18 tankers and 10 bulkers, with one suezmax newbuilding on order at New Times Shipbuilding.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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