Strong demand for smaller clean tankers in Asia is expected to produce a positive result for a small chemical tanker to be auctioned in Singapore.
The 15,200-dwt chemical and product tanker Folk Beauty (built 2010) last traded in the fleet of Dubai-based Folk Shipping. It will be sold by sealed-bid tender on 14 August, with offers due in at the Sheriff of Singapore’s office by 3pm on the day.
Singapore-based brokers who work the smaller tanker sectors described the STX RO Braila-built-ship as being a good sales candidate.
A pre-auction survey describes it as being in a satisfactory, serviceable condition albeit in need of painting in some exterior areas.
Flagged in the United Arab Emirates, the Folk Beauty is classed by RINA, with most certificates still valid despite the ship having been under arrest since March.
“It is a size and type that is popular with operators in China, Indonesia, Thailand, Vietnam and the Philippines. It is a relatively young ship, it is in class, so I think many people are going to be interested,” said a sale-and-purchase broker involved in the small Asian tanker sector.
VesselsValue pegs an $8m value on the ship, and the platform’s data indicates that market price levels have remained steady for most of this year.
The Folk Beauty was arrested by the National Bank of Fujairah, which filed an AED 45.2m ($12.3m) mortgage claim against the ship.
The Folk Beauty is currently berthed at Sembcorp Marine Admiralty Yard.
