Greek shipowner New Shipping is selling its oldest tanker for demolition for what brokers have described as a strong price.
Demolition brokers said the company has sold the 107,000-dwt New Paros (built 1998) to Pakistan for $408 per ldt, or $6.8m.
But London-based Seasure Shipbroking has estimated scrap prices for for tankers to Pakistan at just $395 per ldt.
One demolition broker said the deal marks a “crazy price” and a “big gamble by the cash buyer” that purchased the ship.
The deal will be the first scrap sale of a tanker for Adam Polemis-controlled New Shipping since 2018.
The New Paros was previously in the fleet of Polembros, but ended up in New Shipping when Polemis split with his brother Spyros in 2014.
The company has one other 22-year-old tanker, the 150,000-dwt Naviga (built 1998). And it has one other tanker built before 2000 in the form of the 251,000-dwt New Prosperity (built 1999).
New Shipping has 24 tankers in its fleet, ranging in size from aframaxes to VLCCs. The company also owns 15 bulkers.
