Owners opt for secondhand tankers rather than ordering new

Owners opt for secondhand tankers rather than ordering new

Athens: Owners have been cautioned by overordering seen in previous years and currently prefer to buy resale and secondhand vessels to avoid ordering new and adding more tonnage to the market.

Sale and purchase transactions have tracked climbing rates. Brokers estimate rates for a one-year timecharter of VLCC and suezmax vessels are currently at a year-high of around $45,000/day and $33,000/day respectively.

This week has been a big one for sale of secondhand VLCCs and newbuildings. Most notably, Euronav has confirmed it is in “advanced discussions” to purchase four VLCC newbuildings from Metrostar, though brokers have suggested there could be more, which Splash reported earlier. The vessels are said to be priced at $98m each.

“It makes perfect sense for Euronav,” the head of research for a major London-based shipbroker told Splash this week. “They want to order secondhand rather than build new because they don’t want to increase the size of the global fleet.”

Today, Greece’s Centrofin is reported to have sold its VLCC Kalymnos (299,100 dwt, built 2000) to an unnamed Russian buyer for $39m.

On Monday, German carrier Nord Reederei reportedly sold its two VLCCs Energy R and Power D (both 319,000 dwt, built 2003) to Navios for $43m apiece.

In the suezmax market, brokers say Dynacom Tankers has sold the Beijing (157,400 dwt, built 1998) for $22.5m to India’s Pratibha Shipping.

 

 

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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1 Comment

  1. Anil Singh
    June 16, 2015 at 8:26 am

    Fab Move!!