Transmed adds VLCCs

With VLCC rates enjoying extraordinary strength over the past month, interest in secondhand tonnage is also strong.

Brokers are seeing an increased demand for storage units as as the Saudi Arabian oil glut changes the face of the sector.

Ten days ago Geek owner Charalampos Mylonas and his outfit Transmed Shipping was listed as the buyer of the 2004-built VLCC Mediterranean Glory. The Hyundai Samho-built crude tanker was sold by Sinokor for $31.5m.

This week a second deal by Transmed is in the pipeline. Sources say that the 302 000 dwt Mitsubishi-built Yugawasan has been sold to the fast growing VLCC player for around $33m. The ship will be delivered to Transmed next month.The 15-year-old tanker is owned by Japanese owner NS United Kaiun Kaisha.

The tanker is Transmed’s third VLCC purchase since last summer, bringing its exposure to this segment up to five ships, all in the same age group.

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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