George Procopiou, a Greek owner sitting on a huge newbuilding orderbook, has sold one of its oldest suezmaxes to a company that seems to be making a debut in that particular corner of the tanker market.
The S&P Global database indicates the 150,000-dwt Demetrios (built 2011) has changed ownership this month and is now trading as the Grace Noel with Stanislav Raspopov-led Grace Energy Shipping (GES).
VesselsValue suggests the deal was agreed in March.
According to US brokers, the Chinese-built ship changed hands for about $50m, which would be above the $47.5m that Signal Ocean estimates the vessel was worth at the time.
GES does not feature the Demetrios on its website yet and managers at the Dubai-based company did not immediately respond to a request for comment.
A confirmation of the deal would mean that GES is entering the crude carrier market. The company has been active only in the product carrier market so far, managing a small fleet of MR1 and MR2 tankers.
At least one of these product carriers yielded a very profitable asset play.
TradeWinds reported last week about GES selling the 48,000-dwt Grace Fortuna (built 2007) for about $23m, after buying the ship for just $13m two years ago.
This was about the time that Raspopov set up the company. He had been previously a freight and cargo trader at R Shipping, an Athens-based company led by his father, Igor.
Igor Raspopov, GES’ chief operating officer, remains a director of R Shipping.
