Angolan oil company Sonangol is understood to have sold one of its oldest suezmax tankers at a surprisingly low price.
The DSME-built 159,000-dwt Sonangol Kizomaba (built 2001) is reported to have been sold to an undisclosed Chinese buyer for $12m.
Price assessment service VesselsValue estimates the vessel is worth around $15.1m. Sonangol could not be reached for immediate comment.
The tanker has previously been employed in the Stena Sonangol suezmax pool, but TradeWinds understands this is no longer the case.
Sources close to the oil company confirmed that Sonangol was in the process of selling the tanker since it was keen to avoid the vessel having to pass special survey, which is due in January 2021.
Suezmax specialist
Sonangol is listed with 12 suezmaxes that are trading, with the oldest the sister vessels Sonangol Luanda and Sonangol Girassol (both built 2000).
Most of the company’s suezmaxes are trading in the Stena Sonangol pool. This pool has operated suezmaxes for 15 years and currently has 20 ships of which all but one are controlled by the two partners, Stena Bulk of Sweden and Sonangol.
In May this year the Angolan oil company signed up for its first newbuilding contract in six years.
After a tender it concluded an order for up to four suezmax tankers at Hyundai Heavy Industries (HHI), beating off competition from domestic rival Samsung Heavy Industries. The ships are due to be delivered in 2021 and are costing $57m each..
The deal was for two units with options for two more ships. TradeWinds believes that the two options have been dropped. The newbuilding deal was seen as part of Sonangol’s renewal programme.
