Valles finally concludes aframax sale

Valles finally concludes aframax sale

One of Hong Kong’s oldest shipping companies, 102-year-old Valles Steamship, has sold its oldest aframax.

Sources tell Splash that Union Maritime has bought the 14-year-old, 109,000 dwt aframax Seaheritage for $14.5m, making it its second aframax purchase in 2019. The same ship had been reported sold earlier this year to the same outfit for half a million less, but company officials working for the Koo family declined the offer at the time.

The sale leaves Valles Steamship with eight aframaxes and three handysize tankers, according to data from VesselsValue. It has been rejuvenating its fleet lately.

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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