Broker sources tell Splash that the emerging Chinese tanker player Shandong Shipping has snapped up the 48,700 dwt Japanese-built High Presence from Italian owner D’Amico International Shipping for $15m. One broker report reveals that the sale comes with a five-year time charter back at $14,250 per day.
In May last year Qingdao-based Shandong Shipping’s pushed ahead with its stated plan to enter the MR segment with the board approving a two-ship secondhand acquisition. This was soon followed with the purchase of a MR tanker from Norwegian shipowner DSD Shipping when it acquired the 45,000 dwt Stavanger Eagle. This ship is managed by Hong Kong’s Wallem Group, who first published the news in its in-house publication.
Shandong is best known for its bulk business. It also has VLGCs and some offshore assets. It has made it known that it is keen to list overseas.