Teekay Tankers has sold its Korean-built MR chemical/product tanker Teesta Spirit (46,900 dwt, built 2004) to unknown Greek interests for $14m, brokers say.
The sale price would seem to confirm latest Baltic Exchange data, which shows that asset values for MRs have fallen off a cliff over the past six months (see graph).
Two other 12-year-old MRs built in Korea were sold in May this year and achieved higher prices than Teesta Spirit.
BP received $14.5m apiece when it sold British Loyalty and British Fidelity (both 46,800 dwt, built 2004) to Sinokor Merchant Marine.
A Japan-built MR of the same age achieved $1m more, when Thenamaris sold Signal Maya (46,800 dwt, built 2005) to Greece’s Benetech for $15.5m the same month.
The value of a five-year-old, 51,000-dwt tanker is worth $24.14m today, some $4.12m less than on February 8, six months ago, according to latest Baltic Exchange sale & purchase (S&P) assessments.
The Baltic’s assessment is based on tankers with coated cargo tanks and IMO II/III notation, built at a “first-class competitive yard”.