Second-hand VLCC prices were said to be falling on Thursday as Japan's NYK was linked to a sale of a 2005-built tanker.
Brokers report the 310,000-dwt Toyo, with a drydocking due, has gone to Greek buyer Altomare for $28m. Other market sources, however, have put the price tag at between $29.5m and $30m.
It is valued at $30.71m by VesselsValue.
This is the second Japanese-owned VLCC to have been sold in the last month, after MOL offloaded the 306,000-dwt Oriental Jade (built 2004) for $26m.
Matthew Freeman, commercial director at VesselsValue, pointed out that these two deals are almost 20% below the $35m paid by Transmed for NS United's 300,000-dwt Aquarius Wing (built 2005) in July.
"That deal in particular was an eye-catching one and hard to make sense of," he added.
Market finding its feet
“What followed in the coming weeks were a series of other transactions for 19 to 20-year-old assets to Middle Eastern interests that were also hard to understand but it seems the market is now finding its feet."
Freeman said: "One has to wonder the affect that any further sanctions or fall out from the Saudi Aramco attack will have, as we are already starting to see an increased number of VLCCs idle as a result.”
Greek-Cypriot owner Andreas Hadjiyiannis was believed to have snapped up Oriental Jade in August.
Altomare was not immediately available for comment. NYK has been contacted.
In August 2018, Altomare sold its oldest VLCC for demolition, in a deal that showed there was still life left in the scrapping market.
London-based brokers reported the 281,000-dwt Ruby IV (built 2000) was sold “as is” in Colombo, Sri Lanka, for $425 per ldt — a price that would have brought the Greek company nearly $16.4m.
Altomare is listed with three VLCCs built in 2002 and 2000.
