Ridgebury makes VLCC comeback

Brokers tell Splash that Bob Burke-led Ridgebury Tankers has reentered the VLCC segment, eager to cash in on the anticipated market upturn.

Ridgebury Tankers, famous for its speculative plays, has laid down $120m for four vintage tankers, its first VLCC purchases since 2017.

The purchases includes charter commitments to Euronav until the end of the year. The deal involves, the Nautilus (2006), Navarin (2007), Neptun (2007) and Nucleus (2007) which are owned Wafra Capital Partners and controlled by Euronav.

In 2017, Euronav entered into a five-year sale and leaseback agreement for the ships with investment vehicles advised by Wafra Capital Partners, a Kuwaiti backed private equity partnership.

“This further demonstrates that many tanker owners are committed to securing tonnage before the anticipated market upturn in the second half of the year,” Clarksons noted of the Ridgebury deal in the broker’s latest weekly report.

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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