Rash of VLCC sales
China’s HNA Group has sold the 2016-built Hangzhou VLCC for $60m to New Shipping. Built at Jinhai Heavy Industries in China the 319,611 dwt tanker sets what Clarksons Research described in its latest weekly report as a “new benchmark low” for VLCC, with the broker stating the sale also highlights the “large price difference” between Japanese/Korean builtand Chinese built VLCCs.
The last comparable modern VLCCs sold were the two Hyundai Heavy Industries resales from Metrostar to Frontline for $84m in June this year.
New Shipping has been very active in the past few days, also picking up the MOL-controlled Perseus Trader VLCC. The price for the 300,100 dwt, 13-year-old, Japanese built ship has not been revealed.
In other VLCC sale news, Singapore’s BW Group has disposed of one its older tankers. Indian outfit Seven Islands Shipping has forked out $23.5m for the 2000-built BW Ulan for prompt delivery.
VLCC rates have picked up dramatically in recent weeks, hitting a nine-month high by the end of last week.