Brokers tell Splash that Zhenhua Shipping, the line owned by Shanghai equipment manufacturer ZPMC, has added the 106,500 dwt Petrozavodsk for $10.4m from Russian owner Sovcomflot. The fair market value of the ship is $11.4m according to MSI.
The ship fetched a similar price to the only other purchase by the Chinese owner this year. In the middle of April Zhenhua Shipping added 105,000 dwt Zirku for $400,000 less.
ZPMC took a break from the secondhand market in 2017 with no sales registered.
This latest aframax purchase will likely be converted into a semi-submersible like other aframax acquisitions made by Zhenhua Shipping.