Minsheng Financial Leasing (MSFL) is behind the purchase of the 47,100-dwt Glenda Megan (built 2009) and is said to be mulling a Hyundai Mipo-built sistership.
Meanwhile, it is marketing for sale an MR2 tanker it acquired in 2017.
Sources close to the Beijing leasing house denied market reports it has bought both that ship and the 45,000-dwt Glenda Meridith (built 2010). "Not yet," said the source, who was not willing to be named or comment further.
Commercial sources said MSFL has inspected the second ship.
Both are from the fleet of Glenda International Shipping, the joint venture of trader Glencore and Paolo d'Amico-led d'Amico International Shipping.
TradeWinds recently reported on the sale, which d'Amico said had gone for $19m to an unnamed buyer and would generate some $8.1m in profit net of financing.
Sources acquainted with the vessel's employment say the Glenda Meredith has no long-term employment arranged and has been placed with "market players" in the meantime.
MSFL distinguishes itself among the larger Chinese leasing players through a willingness to indulge in commercial operations and asset play but is better known as a dry bulk owner.
In the past, company officials have expressed an interest in building up product tanker trading capacity. But brokers said the point of that is to be able to hold secondhand acquisitions only as long as it takes to flip them.
Shipping data provider VesselsValue lists six MR2 tankers in MSFL's fleet and regards the two Glenda ships as "to be delivered". It also owns tankers from asphalt carriers to LR1 product tankers and even VLCCs, but financial ownership from operating ownership is hard to make out from the company's fleet list.
Most of the MR2 tankers trade in the fleet of Singapore's Parakou Tankers, which currently operates on an asset-light basis after selling all its vessels to Chinese leasing houses. Market sources believe those ships are in effect not MSFL's to sell, because client Parakou has "a lot of optionality" in its charters to exercise purchase options when it wants to own ships again.
One former Parakou ship in the MSFL fleet, however, the 51,200-dwt C Valentine (ex-Pretty Scene, built 2006), is on charter to an unidentified Chinese tanker player but still technically operated by Parakou. MSFL acquired it at auction in South Africa in December 2017 for some $12m after a long period under arrest.
Market sources said MSFL is actively circulating the C Valentine for sale.
Meanwhile, sources close to MSFL have denied reports of a panamax purchase.
Japan's Yamamaru Kisen has reportedly sold its 81,800-dwt Key Pacifico (built 2015) for around $24.3m. MSFL sources said they know nothing of the vessel despite broking reports linking it to the ship.
