Greek owner Aeolos Management is securing a firm price for a 19-year-old VLCC sold as a conversion candidate.
European brokers said the Daewoo-built 306,000-dwt Astipalaia (built 2001) has gone to Modec for $26.5m.
UK-based online firm VesselsValue says the tanker is worth $25.3m. The vessel is due for special survey in May next year.
Maybe even more important for the seller is that the tanker has been an important cash cow for many years.
It has been in the owner’s fleet since it was new and it was ordered cheaply, for less than $70m.
Aeolos still also owns the sistership Kos (built 2001), which was ordered for the same price at the same yard.
The Greek owner has a company policy not to comment on its commercial matters and Modec could not be reached for comment.
Aeolos last made a move in the secondhand market in September 2018, buying the 300,000-dwt tanker Kai-Ei (built 2004) from Japan’s Kyoei Tanker for $24.5m, renaming it Amorgos.
In December 2017 it ordered its first VLCC in 18 years, paying $84m to Daewoo. The 318,000-dwt Delos was delivered last year.
Philip Embiricos-led Aeolos has a fleet of 10 VLCCs with an average of 15 years.
Modec is a leading FPSO player and is listed with 18 units.
