Gener8 Maritime has scored a firm $81m per unit on a sale of two modern VLCCs to AET, TradeWinds has learned.
It has sold the 320,000-dwt Noble and 300,000-dwt Theseus (both built 2016), sources say.
Do the sales mean something else for Gener8? On a week in which suezmax tanker specialist Nordic American Tankers (NAT) confessed covenant breaches, could Gener8 also be bumping up against loan laws?
No, according to to sources close to the Peter Georgiopoulos-led tanker giant.
Even though the New York-listed owner has been selectively disposing of older tonnage, a source close to the process say that modern VLCC sales reflect a goal to build funds for buys.
Sources close to the company say this is end end of its ship selloffs for the near future.
A Gener8 spokesman could not be reached before TradeWinds’ deadline.
Although Gener8 is taking a large loss on the $105m price it paid for the VLCCs as resales from Scorpio Tanker in an asset play in 2015, the price is a step up from the recent VLCC market.
Gener8 has been selectively disposing of its older tonnage including smaller vessel classes, but this is its first sale of modern VLCCs in the water.
This article has been updated to identify the vessels sold by Gener8 Maritime.
