SK Shipping pays very firm $98m for Hunter VLCC newbuild

Arne Fredly’s new VLCC unit Hunter Group has announced that it has signed a memorandum of agreement with “Far Eastern buyers” to sell one of the its 10 newbuilds at a price of $98m. The vessel will be deliver to the buyer on October 31.

Splash can exclusively reveal that the buyer is South Korea’s SK Shipping.

Additionally, the company is in advanced discussions regarding the sale of a second vessel. Brokers tell Splash the second one has had subs extended recently.

Hunter said last month that it was closing in on a deal to offload a pair of VLCC resales, potentially pocketing a $25m profit in the process.

SK is seemingly paying a significant premium for this DSME-built tanker. The last reported VLCC newbuild order was concluded at just $93m including scrubber installation at the end of January.

SK Shipping currently owns a tanker fleet of 30 vessels including 18 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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