AsiaTankers

Wilmar bags bargain elderly MR tanker

Photo of Sam Chambers Sam ChambersDecember 7, 2016
18 Less than a minute

Angolan energy major Sonangol has offloaded one of its older tankers. Brokers report Singapore’s Wilmar International has paid just $5m for the 1998-built 46,000 dwt Welwitschia MR product tanker.

Wilmar has been on the hunt for bargain basement acquisitions this year. In August it managed to pick up a six-year-old supramax bulker for just $7m, a price that today would have increased by at least $3m.

Wilmar is owned by tycoon Kuok Khoon Hong whose other interests include Raffles Ship Management.

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Photo of Sam Chambers Sam ChambersDecember 7, 2016
18 Less than a minute
Photo of Sam Chambers

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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