Another ageing VLGC is said to have been sold to Chinese buyers, possibly with the intention of Iranian trading.
Brokers say Mercator Lines’ 76,900-cbm Sisouli Prem (built 1992) is on subjects with an unknown buyer at a price of $10.5m. VesselsValue gives the aged hulk a scrap value of $7.32m but brokers put the figure somewhat higher.
“Sisouli Prem has been engaged in the Iranian trade for the last couple of months but the seller’s motivation is more likely the opportunity of getting something above scrap for a ship this old than anything to do with Iranian sanctions,” a gas carrier broker said.
The Sisouli Prem has trading limitations in the United Arab Emirates, where the Adnoc terminal at Ruwais will not accept ships that are more than 25 years old.
Mercator officials could not be reached before TradeWinds went to press.
Last week, TradeWinds reported two sales of aging 78,000-cbm VLGCs — Pacific Carriers’ NS Challenger (ex-BW Challenger, built 1992) to an Indian buyer for $10.5m and Idemitsu Tanker’s Energy Orpheus (built 1993) to an undisclosed buyer for $10.25m.
Some reports indicate that the Energy Orpheus went to a Chinese buyer. Gas trading sources are doubtful whether an Indian company would have taken the NS Challenger, which can only be traded spot because of time charterers’ age limitations.
