Tsakos Group’s acquisition of the Mare Action product tanker illustrates well the declining asset value in the sector. The Greek owner is thought to have paid Hafnia Tankers just $10.5m for the 12-year-old, 37,468 dwt tanker.
Noted Clarkson Research in its latest weekly report: “This price can be placed in context with a number of sales in this sector over the past twelve months, most notably the [similarly sized, but two-year older Cielo Di Roma], which was sold to Akar Shipping in the early months of 2016 for $14.25m.