Greek MR tanker specialist Benetech is continuing a slow but steady expansion drive, adding a 15-year-old product tanker bought from Vietnam’s Bien Dong Shipping.
The Athens-based company has emerged as the new owner of the 45,900-dwt MR2 tanker Biendong Melody (built 2004), a vessel reported sold last month for between $8m and $9m.
The Shin Kurushima-built ship used to be in the fleet of Vinalines, Vietnam's state-owned shipping company, which is known to be selling assets to cut debt, streamline operations and increase its focus on ports and maritime services.
According to Equasis, the Biendong Melody has been trading with Benetech since 1 July under its new name of Jasmine S.
The Jasmine S becomes the 12th ship in the fleet of Benetech, a company established in 2005 by Cypriot-born George Michael, a trained shipbroker and economist. Michael is assisted by his brother Vasilis, who is mainly involved with the company’s finance and acquisition policy.
Benetech has not sold any ships for further trading, according to available records. However, in June Greek brokers reported its 46,800-dwt Helen M (built 2005) and 45,700-dwt Arsos M (built 2004) were for sale.
Benetech managers did not respond to TradeWinds' request for comment.
MR tankers, which are expected to benefit from a shift in trading patterns in the wake of IMO 2020 sulphur cap, have been the object of much activity on the sale-and-purchase, newbuilding and demolition markets.
Greeks have been part of that activity, as buyers and sellers. In terms of recent deals, Dragnis family company Marvel Maritime reportedly sold its last tanker — the 47,200-dwt Theoni (built 1997) — to United Arab Emirates-based buyers for $5.5m.
Greek peer Unibros Shipping, led by Kosmas Makrygeorgos, has scrapped two MR vessels since late June. The 46,000-dwt Alizea (built 1995) was sold for $420 per ldt, or $3.8m, and the 45,700-dwt Oceana (built 1996) went for $440 per ldt, or $4.5m.
