The extremely firm VLCC rates of recent weeks have been reflected in asset values across the board in the tanker sale and purchase market with Ridgebury’s recent sale of a trio of ships setting a notable benchmark. The solid numbers continue with news that the 16-year-old VLCC Power D has finally been sold after a lengthy sales process lasting a number of months.
“Whilst time is often blamed for killing deals, in this instance the sellers have been handsomely rewarded by the improving markets,” Clarkson Research Services noted in its most recent weekly report.
Splash understands the vessel has been sold to NG Moundreas for $32m, at least $4m above the price that was being negotiated for it and its sister Energy R a few months earlier. The sister vessel remains unsold.