Diversified Greek shipowner Centrofin appears to be exiting the VLCC segment.
An undisclosed buyer has reportedly committed to purchase the company’s DSME-built, 299,000-dwt sisterships Kalymnos and Cerigo (both built 2000). US brokers said they are destined for a conversion project.
The tankers have reportedly fetched a firm $25m each. The Dimitris Procopiou-led outfit did not respond to requests for comment.
The reported price is $9m above an estimated scrap price for the ships. A few years back, 19-year-old VLCCs would have been considered demolition candidates.
While the prices for the Kalymnos and Cerigo are firm in today’s market, Centrofin is poised to take a loss on the ships after nearly eight years of ownership.
Action on buying front
They were purchased for $31m each from Saga Tankers of Norway in 2011, when they were named Saga Agnes and Saga Julie.
If Centrofin is successful in offloading the vessels, it would be its first sale in more than two years, but it has also been making moves on the buying front.
US brokers claimed this week that Centrofin has clinched a deal with Formosa Plastics, paying $11.3m for the 46,800-dwt FPMC 19 (built 2009), which the Taiwanese outfit has been trying to sell for a while. This epoxy-coated CSC Jinling Shipyard-built tanker is due for special survey in November.
Centrofin last moved in the sale-and-purchase market in March this year, buying the 74,800-dwt tankers FPMC P Fortune and FPMC P Eagle (both built 2009) from Formosa Plastics for $16.1m each.
The company is listed with a fleet of 21 tankers and eight bulkers with an average age of 11 years. The tankers range from VLCC to panamax.
This article has been amended since publication to include the correct photo of Dimitris Procopiou of Centrofin.
