Pair of MR tankers formerly on charter to Hanjin sold for $43m

Pair of MR tankers formerly on charter to Hanjin sold for $43m

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.

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.

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