German owner Dr Peters is down to its last tanker after Greece's NGM Energy swooped for its final VLCC.

Market sources said the Moundreas family company is paying $22m for the 299,000-dwt DS Commodore (built 2000) as sales of big tankers continued in a hot spot market paying $120,000 per day.

The price has been described as $2m below market levels, although VesselsValue assesses the ship as worth $18.8m.

Dr Peters, which has been contacted for comment, is now left with one panamax tanker, the 70,400-dwt DS Promoter (built 2002), through its Hamburg-based tanker arm DS Tankers.

NGM snapped up two suezmaxes from the company in April.

It acquired the 150,000-dwt sisterships DS Symphony and DS Melody (both built 2001) for close to $12m each.

The vessels, built at Sasebo Heavy Industries, were among a group of tankers redelivered to Dr Peters about two years ago by John Fredriksen’s Frontline, which had them on long-term charters.

Aggressive fleet reduction

Dr Peters, an investment management company with wide-ranging interests from real estate to aircraft, has been aggressively reducing its exposure to tankers since David Landgrebe was appointed as its new head of shipping in August 2018.

The company has sold three VLCCs since last October, raising about $135m in the process.

Its dry bulk unit DS Schiffahrt, which is also based in Hamburg, lists one capesize ship and two feeder containerships on its website.

The Moundreas family have been keen buyers of Dr Peters tanker tonnage.

As recently as October last year, Piraeus-based NGM Energy acquired from DS Tankers the 299,000-dwt DS Vida (renamed Vida, built 2003), reportedly for $22.8m.

Back in 2013, Dr Peters supplied NGM Energy with the 299,000-dwt DS Victory (built 2001).