Vintage VLCCs selling fast

Vintage VLCC sales are filling up broking reports with more ships sold in March than in January and February combined.

Over the weekend, several brokers note that Meiji Shipping is selling the 2005-built 305,000 dwt VLCC Tokio for just under $32m. Earlier this month, sales chatter surrounded the same aged Olympic Loyalty II. This ship was noted to have sold for a million less at the time. Another deal involves the 2004-built Eneos Tokyo, sold by Japanese owner Eneos for $30m.

Meanwhile, John Fredriksen’s SFL Corporation and Frontline have agreed to terminate the charter deal for two 2004-built VLCCs, Front Energy and Front Force, that have been sold to an unrelated third party.

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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