Norwegian investor Trond Mohn has reduced his tanker fleet further as asset values continue to rise.
For the second time since January, the owner of Nyhill Shipping has banked a useful profit in the secondhand market, this time with the disposal of the 47,000-dwt MR vessel Jo Kari (built 2007).
Brokers have linked a Turkish company to the deal for $21.85m, in line with elevated market values.
The tanker was sold by Cido Shipping to Mohn in South Korea for $16m in 2017.
A year ago, the South Korean-built ship was worth $12.8m, according to VesselsValue.
Mohn confirmed the sale to Finansavisen and said that the vessel was debt-free.
The Jo Kari has been operating in the Maersk Tankers MR pool.
In January, TradeWinds reported that Mohn had sold the 75,000-dwt Jo Provel and 73,800-dwt Jo Redwood (both built 2013) for $36.6m and $34.2m, respectively.
They had no loans attached, freeing cash of more than $70m after broker commissions.
Mohn still owns the 51,500-dwt MRs NH Erle and 50,000-dwt NH Siri (both built 2010).
He had indicated earlier this year that he had no plans to sell any more vessels, but prices have proved too tempting to turn down.
The Bergen entrepreneur and investor is one of Norway’s richest men, and is the major shareholder in financial brokerage Arctic Securities.
He has interests in several industries, as well as a high political profile well to the left of his peers.
Wide interests
In shipping, Mohn’s ownership interests are mostly in shares of single-vessel entities through his investment vehicle Meteva, which controls Nyhill, rather than at the corporate ownership level.
He is involved in product tankers, gas and offshore through stakes in vessels in the fleets of Rederiet Stenersen, LNG carrier owner Knutsen OAS Shipping and Island Offshore.
His son Frederik Mohn is also a significant shipowner through investment vehicle Perestroika, which is a shareholder in private tanker owner Viken Crude in partnership with Tom Steckmest.
