Strong demand for smaller clean tankers in Asia produced a positive result in Singapore.
Officials at the Sheriff of Singapore’s office confirmed to TradeWinds that a buyer has been found for the 15,200-dwt Folk Beauty (built 2010) at its first auction attempt.
The small chemical and product tanker last traded in the fleet of Dubai-based Folk Shipping.
The officials declined to disclose the identity of the buyer, or the price of the successful bid. This information will only be made public once the ship is handed over to its new owner.
Prior to the auction, Singapore-based brokers who work in the smaller tanker sectors described the STX RO Braila-built ship as a strong sales candidate, pointing out that it was a young ship and in good condition.
There are strong indications that Asian interests have purchased the ship as it is the ideal size and type that is popular among operators in China, Indonesia, Thailand, Vietnam and the Philippines.
The Folk Beauty had an estimated market value of about $8m at the time the auction was first announced.
The Folk Beauty was arrested by the National Bank of Fujairah, which filed an AED 45.2m ($12.3m) mortgage claim against the ship.
