Newcomers to the MR product carrier sale and purchase market are helping drive up prices even further as older vessels remain in demand.
One shipbroker admitted to feeling “spoiled” because there were not many deals being done for modern, high-value tankers.
But veteran units continue to be snapped up at “very firm” prices, the broker said.
Eva Tzima, head of research and valuations at Greece’s Seaborne Shipbrokers, said A-list owners continue to flirt with newbuilding investments while asset values continue to climb.
She calculated secondhand prices have increased for a 16th month in a row.
“The pool of buyers in sizes up to MR continues to grow, with several among these investors positioning themselves for the first time since the beginning of the war in Europe,” Tzima said.
TradeWinds has already reported last week about the 40,000-dwt Jenny I (built 2003) having been sold for $17.5m after passing its survey.
AIS shows a change of name to the Paprika.
Monaco-controlled ship offloaded
The 37,000-dwt MR1 Blue Trader (built 2005), which has been trading crude, has gone for $18m, with a drydocking due in July.
This compares to a valuation of $17m.
The ship is listed as owned by Galaxy Energy Group (GEG) of Monaco and managed by International Andromeda Shipping of Greece.
This is GEG’s only known vessel. The company could not be contacted.
Meanwhile, US owner MT Maritime Management has reportedly been selling again.
The 51,000-dwt MR2 MTM Hudson (built 2004) has fetched more than $18m.
The tanker was bought for $11m in 2019 from Victor Restis’ Enterprises Shipping & Trading in Greece.
The 51,000-dwt MTM Colorado (built 2004) is also listed as sold for $18m earlier in May.
The new owners are not known.
The Connecticut owner sold a trio of chemical and product tankers in March.
The ships were built at South Korea’s Hyundai Mipo Dockyard at prices that show less than $1m in value loss, despite a decade in the fleet of the US owner and operator.
The 46,800-dwt MTM Manila, MTM Mumbai and MTM Yangon (all built 2003) were sold for $14.8m each.
That came roughly 10 years after MT Maritime purchased the vessels for $15.5m each in an en-bloc deal.
The buyer has not been disclosed, but Chinese interests have been mentioned as behind the deal.
The company has not commented.
