Perenco finds buyer for ageing VLCC

French oil and gas player Perenco has finalised an asset play, a rare move by the vintage tanker specialist.

In June Splash reported that Perenco recirculated its only VLCC, the 306,000 dw Bag Meur, after a deal to offload the 20-year-old ship to Greek interests for $27m had fallen through. Now the ship is reported sold for $22m, the tipped buyer is Singapore-based tanker owner, Equatorial Marine, who has two other vintage VLCCs and an FSO in its stable.

Formerly called N. Topaz, Perenco bought the tanker in March for $25m, at the time VLCCs were being fixed for six-digit figures.

Clarkson Research Services notes that the $22m price just secured is further evidence of a decrease in values for VLCCs built in the early to mid 2000s.

Perenco has years of experience with old tankers and now has a handful of floating storage units, sized VLCC down to LR1, in addition to another four trading tankers.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.
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