Winson Group has pocketed up to $4m from some very quick asset plays. The Taiwanese firm has completed the sale of two elderly tankers – Formosa Falcon (now renamed Sino Pacific) and the FPMC P Alpine (renamed Super Lotus).
Broker sources vary on how much the two ships fetched, with one broker report saying $18m en bloc while another report puts the en bloc price at $16m, netting the outfit either $2m or $4m for elderly LR duo it bought at the end of October from compatriot Formosa Plastics at a bargain price.
The Taiwanese company has been so moving fast that one of the ships involved was not even renamed when first circulated for sale.
Winson is not known for its asset plays, having only sold one ship in the last five years.