Greater ChinaTankers

Winson makes swift profit from ageing LR duo sale

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.

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.
Back to top button