Petros Pappas-controlled Product Shipping & Trading has snapped up a cheap MR product tanker, according to broker reports. The Greek firm is paying just $14.2m for the nine-year-old Nord Observer, which shipping database Equasis lists Japan’s NCN Corp as the current beneficial owner. The 47,000 dwt coated ship was built at Onomichi.
Meanwhile, in related news South Korea’s Keoje Marine has bagged a bargain deal for a small product/chemical carrier. In a bank driven deal Keoje Marine is paying $12.2m for the 13,000 dwt epoxy coated Lady Cordelia which was previously controlled by Tune Chemical Tankers from the Netherlands.