Sinokor puts another VLCC up for sale

South Korea’s Sinokor has made headlines in the VLCC segment all through the year, being the most active seller of supertankers.

This week the shipping heavyweight has revealed that its selling spree is not coming to an end soon. Fresh for sale and inviting offers is the 15-year-old 309,000 dwt, Baltic Sunrise. The 333 m long tanker can be delivered to its new owner, charter free, at the beginning of June.

The upcoming sale is coming at time that several VLCC deals from last month have turned sour, and one-year period deals are also down around 20% from April to May.

VesselsValue data shows that the 165-ship strong Sinokor has cut its exposure to the VLCC sector in half since March last year, selling eight VLCCs, four rusty giants and four resales that will hit the water shortly.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.
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