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.