Barely three months after it made its debut on the shipping scene, a little-known shipmanager from Dubai has assembled a fleet of at least three ageing VLCCs.
TradeWinds reported earlier this month that Royal Express Ship Management had taken over operation or technical management of two tankers sold by Greece’s NGM Energy.
They are the 299,000-dwt Victory I (renamed Dante, built 2001) and 299,100-dwt Vida (renamed Dalton, built 2003). Both of the vessels' newly registered owners are single-ship entities based in Belize.
Unidentified buyers
IHS Markit data this week showed that a third VLCC is joining them. The 299,100-dwt Kalymnos (built 2000) was last week reported by sources as sold by Greece’s Centrofin to unidentified buyers for $25m.
IHS has listed Royal Express Shipmanagement as the operator and commercial manager of the Kalymnos on behalf of Safe Maritime, an entity registered this year in Belize.
And Royal Express’ VLCC tally could have risen to four, if Kalymnos’ sistership Cerigo has gone the same way. Several brokers reported last week that Centrofin sold both vessels to the same interests.
IHS lists Royal Express Shipmanagement as operator and commercial manager of the Kalymnos on behalf of Safe Maritime, an entity registered this year in Belize
However, there was confusion among brokers about who acquired them.
Conversion project
Some said they were bought by Middle Eastern interests. Others suggested they were heading for a Chinese-controlled conversion project.
Centrofin managers declined to discuss the issue or even confirm the deal.
On Wednesday, IHS listed the Cerigo under the ownership and management of Dolce Shipping, a company with an address in Valletta, Malta. The ship has been renamed Duna.
Exactly who is behind Royal Express and the registered companies that it is working for remains unclear.
Neither have been in shipping for very long, and they are not known to have owned or operated ships before, according to Middle East sources.
Like many small shipmanagers operating in Dubai, the company has a generic website that provides few details about its executive management or the ships it manages.
No comment
TradeWinds was unable to reach Royal Express on the telephone number listed on its website. That number was answered by someone who said he had never heard of Royal Express.
Dolce Shipping could not be reached as it has no listed contact details.
