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.