Clarksons Research is reporting that two MR product tankers owned by Japan’s Wakoh Kisen Kaisha have been sold to a Singapore-based fund called PAG.
The Pacific Marchioness and Pacific Duchess were sold for a price of $43m en bloc. Clarksons Research said while the price looks high it is important to consider that the deal was on subjects for around a month and hence PAG would have paid a premium for such flexibility.
The vessels are to enter into a five year bareboat charter to a third party at an undisclosed level.
Prior to being sold the vessels were on charter to Hanjin Shipping, which filed for court receivership last week.