Japanese shipping giant NYK Line has put the 300,000-dwt tanker Takasaki (built 2005) up for sale, sources tell TradeWinds.
Brokers believe the IHI-built ship will fetch about $35m, which is in line with recent VLCC sales.
A tanker source said Japanese owners do not tend to hold onto VLCCs that are more than 15 years old.
“They do not want to bear the extra cost in maintaining old tankers,” the source said. “These ships will require new piping and special dry-docking.”
The Takasaki has just discharged cargoes in Kishima, Japan, and is scheduled to arrive in Singapore next week for inspection.
Brokers believe Greek owners such as Transmed, Embiricos and some Indian buyers will be keen to look at the Takasaki.
Brokers said Singapore’s one-month shut down, which started at midnight on Tuesday, should not affect the inspection of the VLCC from taking place.
Essential services
The government is exempting essential services and their related supply chains, as well as entities that form a part of the global supply chain, from the suspension.
NYK is said to control 22 VLCCs. All the tankers are employed on contracts of affreightment for domestic and international oil companies such as JXTG Group, Cosmo Oil, Shell and others.
“NYK is not engaged in any VLCC spot business,” a tanker player said.
“NYK currently has two VLCC newbuildings that are under construction at Namura Shipbuilding in Japan. One of them will replace [the] Takasaki.”
The pair of 310,000-dwt newbuildings — Hull No 452 and Hull No 472 — are due for delivery this year and 2021. The duo was ordered by Kyoei Tanker, which is a subsidiary of NYK.
According to VesselsValue, the secondhand market for VLCCs has been active this year.
Eighteen VLCCs have been sold since January, despite a sharp fall in oil demand because of the coronavirus pandemic.
VLCCs that were sold included four newbuildings put up by South Korea’s Sinokor Merchant Marine. The quartet was acquired by Euronav.
Other shipping companies that have sold crude tankers recently include AET, Bahri and Hartree Partners.
