Danish shipowner Dee4 Capital Partners has banked a useful profit by selling two MR tankers in hot markets.
The company, founded by Carsten Mortensen and Freddie Lee in 2019, has offloaded the 47,000-dwt Dee4 Dogwood (built 2008) and the 46,000-dwt Dee4 Cedar (built 2010) for about $44m combined, according to shipbrokers.
Mortensen confirmed the sales to TradeWinds.
He said: “The rationale is that we got a good offer, and buying and selling vessels is an integrated part of our business.”
The buyer has not been disclosed and the founding partner said the company does not comment on price or counterparties.
Brokers put the price of the Dogwood at $24m, against a VesselsValue valuation of close to $20m.
The ship was acquired from Nissen Kaiun in Japan in 2019 for an undisclosed price.
It is operated by trader Gunvor’s Clearlake shipping arm.
The Cedar is valued at $17.6m, but went for a reported $21.1m.
The ship trades in Hafnia’s MR pool.
Ships sold in 2021
The tanker was acquired from Fuyo Kaiun in 2019 for $16.5m, meaning a healthy profit for Dee4.
This is only the second time the company has sold ships.
Last August, the owner offloaded the 53,700-dwt Dee4 Acacia and Dee4 Birch (both built 2006) to Ridgebury Tankers.
Market sources said the Shin Kurushima-built vessels were sold for more than $12m apiece.
In January this year, Dee4 added a resale in South Korea.
The Hyundai Mipo Dockyard (HMD) MR Hull No 2859 was bought from France’s Societe d’Armement et de Transport (Socatra).
The 50,000-dwt vessel is now the Dee4 Nerium.
The owner has 10 MR tankers in its current portfolio after the latest sales.
