Speculation in the sale-and-purchase market crediting Eyal Ofer’s Zodiac Maritime with the purchase of a second VLCC from Wah Kwong has jumped the gun.
Shipbrokers are connecting London-headquartered Zodiac with the 300,000-dwt Trikwong Venture (built 2012) in a deal priced around the $53m mark.
Reports of a transaction being completed, however, are premature, TradeWinds understands.
Zodiac and Wah Kwong first discussed a deal involving the Trikwong Venture earlier this year at the same time at the sistership Dalian Venture changed hands.
At that stage Trikwong Venture still had several months to run on its time charter to Navig8 and with that contract now closer to conclusion the potential for a deal appears to have reemerged.
Zodiac returned to the VLCC market with the purchase of the Dalian Venture in March.
It marked the company’s first purchase of a second-hand VLCC in more than a decade, TradeWinds reported at the time.
While Zodiac may add to its exposure to the sector, Wah Kwong has been cutting back its big tanker fleet during the past few years.
The Dalian Venture was the fourth VLCC sold by the Hong Kong-based company since 2013, according to data from VesselsValue.
Should the Trikwong Venture also be sold, Wah Kwong would be left with a single VLCC, the 318,000-dwt Hong Kong Spirit (built 2013).
The shipowner also has four aframax tankers and a stable of 18 bulk carriers.
Zodiac’s tanker market presence spans the crude product, chemical and LPG markets.
The company's fleet of over 130 ships also includes bulkers, containerships and car carriers.
