Philip Embiricos-led Aeolos Management has been linked to the purchase of another VLCC, in an apparent continuation of the Greek company's efforts to boost its fleet.
Broking sources in the US and in Greece said Aeolos has purchased the 300,000-dwt Kai-Ei (built 2004) for $23.8m from Japan’s Kyoei Tanker.
Managers at Piraeus-based Aeolos and its London-based affiliate Andros Maritime did not respond to a request for comment by TradeWinds' press time.
The reported purchase price for the IHI-built Kai-Ei is in line with the $23.5m that fellow Greek company Hellenic Tankers paid in July for the Universal Shipbuilding-constructed, 304,000-dwt Nichioh (built 2004).
The Kai-Ei is due for special survey in September next year.
This is not the first time this year that Kyoei Tanker is reported to have sold the vessel.
Brokers in February identified Indonesian state energy company Pertamina as the buyer of the Kai-Ei, for $27m. The deal is believed to have been on long subjects of up to six months and backed by the prospect of winning an oil transport tender.
But that deal fell through, apparently opening the door for Aeolos.
Buying spree
If confirmed, the deal marks the resumption of a remarkable 10-month VLCC expansion spree by the Greek company.
In December 2017, Embiricos signed up for a 318,000-dwt VLCC newbuilding at South Korea's DSME, believed to be costing around $84m.
Currently listed as Hull No 5453, the vessel is scheduled for delivery in 2020, although some online databases suggest it could hit the water as early as July next year.
In August, Aeolos reportedly added the 298,000-dwt tanker Gloric (built 2006), bought from compatriot owner CM Lemos, for around $33.3m
Aeolos then notched up two confirmed VLCC purchases on the secondhand market in the first half of this year.
It bought the 319,000-dwt Spyros (built 2007), which was renamed Kassos I, for $34.6m, while the 309,000-dwt Bright Harmony (built 2009) was purchased for about $41m and was renamed Serifos.
In August, Aeolos reportedly added the 298,000-dwt tanker Gloric (built 2006), bought from compatriot owner CM Lemos, for around $33.3m.
At the same time as it buys younger tonnage, Aeolos has been scrapping older units. It has sold two VLCCs built in 1998 and 2000 for demolition this year.
