Ridgebury sells VLCC trio at premium price

Ridgebury sells VLCC trio at premium price

Bob Burke led Ridgebury Tankers has taken advantage of the current hot market for VLCCs, sealing a deal for 2001-built VLCC trio Ridgebury Utah, Ridgebury Utik and Ridgebury Artois.

Brokers are reporting the sale at $98m en bloc, which is substantially higher than current valuations in the market for the vessels. VesselsValue places a market value of $66.59m on the trio, MSI comes in at $75.3m with their valuation, while Cleaves has a $77m generic valuation for similar vessels.

Splash understands that while the reports of a sale are correct, rumours of a Turkish buyer are wide of the mark.

Delivery is expected within the next 30 days, and the sale will leave Ridgebury with three VLCCs in its fleet of 20 tankers.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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