South Korea’s KSIM will wave goodbye to one of its small product tankers at an upcoming auction.
On 9 March, the Sheriff of Singapore will sell the 11,700-dwt product tanker Golden Nori (built 1997) via sealed bid auction.
The tanker was arrested in October last year after numerous claims were filed against it by various suppliers and other shipping-related entities that are mostly based in South Korea.
Brokers said the ship might be able to find a trading buyer, provided the reserve price was set to a low enough level.
One Singapore-based broker described it as “the kind of tanker that does well with South East Asian and Middle Eastern companies engaged in regional trades”.
A court-ordered survey of the Fukuoka Shipbuilding-built tanker noted that it had been dry docked just months prior to its arrest, had class and safety certificates valid until 2022, and has been looked after by a crew of 20 during its time under arrest.
The surveyors deemed the ship to be in sound and satisfactory condition barring a few minor repairs.
VesselsValue estimates the Golden Nori to be worth $3.7m as a trading vessel, and $1.3m as scrap.
The online platform indicates that about 20 small product tankers of less than 20,000 dwt have changed owners since 1 December 2020, with the most recent deal listed being the 13,100-dwt Eships Eagle (built 2007), which was sold to United Arab Emirates-based buyers for $6.5m.
KSIM, which the IHS Ships Register lists as controlling three small tankers, could not be reached for comment.
