Onassis in for three VLCCs

Onassis in for three VLCCs

Brokers confirm that Onassis-backed Olympic Shipping has been active in the tanker S&P market lately.

The low profile Greek owner has come in for three VLCCs that private equity firm Oaktree had bought from Nobu Su’s TMT. Olympic has paid $195m for the trio, two built in 2010 and one in 2011, all at South Korea’s Hyundai Heavy Industries.

Last year, Olympic snapped up another pair of TMT ships. Its VLCC fleet now numbers 12 ships.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Related Posts