Roswell Tankers Corp has captured the rising tide of asset values to bank a huge profit on a suezmax it bought less than two years ago.
Athens-based Roswell has sold the 159,400-dwt Raptor (built 2007) to Chinese interests for $46.5m, multiple respected shipbrokers say.
The price is a 40% bump on the figure Roswell paid Ridgebury Tankers for the vessel 16 months ago.
While the ship has been taken through a special survey in the interim, the asset play appears to have paid off handsomely for the Greek outfit.
Roswell has been contacted for comment but has yet to respond to multiple emails and calls.
It acquired the Raptor from Ridgebury Tankers in October 2022 for $33.4m, ahead of its special survey.
VesselsValue data shows the ship was worth as much as $43.2m last April before climbing higher and hitting $44.1m this month.
The latest deal is in line with the $40m Tsakos Energy Navigation got in November for selling the 164,500-dwt Eurochampion 2004 (built 2005) to owners believed by brokers to be Gatik Ship Management.
Data from Clarksons shows older tankers climbing in value so far in 2024.
Its latest figures suggest a 10-year-old VLCC could fetch as much as $80m and a 15-year-old VLCC $57m. This compares to $75m and $55m assessed at the end of 2023, respectively.
A 10-year-old suezmax is said to be worth around $68m, up from the $60m at the end of 2023.
An aframax of the same age had climbed in price from $55m at the end of last year to $58m now, Clarksons said.
Roswell will be left with a fleet of two tankers, an aframax and one MR vessel.
Led by chief executive Michael Karagiannis, Roswell was established in 2012 with a presence in the crude and products segments.
The group has over 40 years of experience in shipping and is active in the commercial and technical management of ships.
