Kristian Gerhard Jebsen Skipsrederi (KGJS) has fetched a stronger-than-expected price for a 17-year-old suezmax product tanker.
The Norwegian shipowner has sold the 159,000-dwt SKS Saluda (built 2003) to an undisclosed buyer for a firm $22m. The Hyundai Samho Heavy Industries-built ship, which is listed by some as an LR3 tanker, is not due for special survey until April 2023.
VesselsValue estimates the vessel is worth $19.5m, with a demolition value of $9m.
Geir Mjelde, chief executive of Bergen-based KGJS, but did not respond to requests for comment.
The sale-and-purchase market for suezmaxes has been quite active the last month, which is a reflection of the previous firm freight market.
Teekay Tankers is reported to have sold three older ships. In addition, some brokers also said that the New York-listed tanker owner has sold a fourth vessel, the Hyundai Heavy Industries-built, 159,000-dwt Godavari Spirit (built 2004), for a similar price as achieved by the SKS Saluda.
Russia’s Sovcomflot (SCF Group) also sold two suezmax tankers in the last month.
KGJS is a major Norwegian shipowner with a diversified fleet. The Hans Peter Jebsen-chaired company has a fleet of 18 aframax or suezmax combination carriers in its SKS Tankers Holding subsidiary. They are on average 14 years old.
KGJS is also a major player in the cement trade and has a 50% stake in eight 80,000-dwt bulkers built at Japan Marine United (JMU) that were ordered with JP Morgan Global Investment Fund.
In 2018, KGJS also ordered two 82,000-dwt bulkers at JMU that are set for delivery this year.
