Greek owner Coral Shipping is selling its first vessel since late 2015.
Brokers said the Greek shipowner has sold the 73,000-dwt tanker Glorious (built 1999) to an undisclosed buyer for in excess of $7m.
VesselsValue estimates a tanker of the Onomichi Dockyard-built vessel's characteristics is only worth $5.7m, while Maritime Strategies International has a $5.6m to $6.8m estimate.
The Glorious passed special survey in February this year.
Coral Shipping bought the tanker as Morning Glory 7 from Japan’s Nakata Mac Corp for $8.4m in April 2013.
No comment
The Greek owner did not reply to requests for comment at the time of writing.
Coral is listed with a fleet of about 15 tankers from small units of 3,400 dwt to aframaxes and LR2 tankers. The company has not sold any ships since October 2015, when it disposed of the 3,400-dwt tanker Seatizen (built 2002).
Its two aframaxes, the Hyundai-built 112,000-dwt HS Medea and HS Carmen (both built 2003) were purchased last year for about $20m in total from Germany’s Hansa Treuhand.
The company purchased as many as six tankers since July 2017, with the John Kilakos-led company spending an estimated $60m in the process. Its last acquisition took place in December 2018 when it picked up the 47,000-dwt tanker Morning Haruka (built 2005), reportedly for $10.5m. The tanker has joined Coral's fleet as Daytona.
Coral was established in 1998 and its fleet includes crude and products tankers as well as chemical tankers trading marine fuels. It also has been managing a petroleum storage facility in Oman since 2007.
