Shortly after Adam Polemis’ New Shipping made $14m on a 21-year-old VLCC bought six years ago, the famous Greek owner is back in the secondhand market, adding two modern 10-year-old VLCCs.
Broking sources link the company to a deal with South Korea’s SK Shipping, tabling some $132m for two 314,000 dwt tankers, named C.Spirit and C. Challenger, both ships sold with a time charter attached. The first ship was built at Hyundai Heavy in Korea. This tanker is noted sold for some $67m, while the latter ship, a tanker built in Dalian in China, has been sold for some $65m. The final price is still unclear as the rate is basis a short period charter that will be decided on later. A rough estimate made by VesselsValue sets the market value for the two ships at $146m if sold charter-free today.
This is the third deal by New Shipping this year. New Shipping started the year with the acquisition of a cape from GoodBulk, bringing its cape arm up to 10. Polemis has a preference for big ships. New Shipping’s fleet, which is valued at close to $1bn, counts 30 ships, including five elderly VLCCs, averaging 17 years in age.
