Shipping Corporation of India (SCI) is in the market for suezmaxes and has sealed its first deal of the year. State-run SCI is paying $31m for Arcadia’s ten-year-old Aegean Navigator.
“The sale follows a lengthy tender process; whilst pricing looks firm, we understand the deal is on subjects for 2-3 weeks,” Clarksons Research noted in its most recent weekly report.
SCI is India’s largest tanker operator with vessels in all categories. It has recently announced plans to restart calling in Iran. It has been in the market for suezmaxes for the past six months, eyeing a number of ships before selecting Arcadia’s.