Sinokor Merchant Marine acquires VLCC from K Line

South Korean owner Sinokor Merchant Marine has acquired the 300,000 dwt VLCC Isuzugawa from Japanese owner K Line.

Broking sources revealed that Sinokor paid a price of $25.8m for the 2004-built vessel.

Clarkson Research reports that six or seven parties inspected the ship with the eventual price concluded being in line with expectations.

The Isuzugaw acquisition follows the Sinokor’s acquisition of a 2002-built VLCC Nichinori from Japan’s JX Ocean at the end of August.

Sinokor has so far acquired 10 vessels this year including three post panamax bulkers, three LNG carriers, a feeder containership and three VLCCs.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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