South Korean owner SK Shipping is said to be selling as many as four VLCCs as activity remains high in the tanker sale-and-purchase arena.
European brokers report that the company is offloading the 314,000-dwt scrubber-fitted pair C Spirit and C Challenger (both built 2013) to Greek interests for $67m and $65m, respectively.
VesselsValue rates the South Korean-built C Spirit as worth $76m and the Chinese-built C Challenger as $70m.
Einar Straume, an S&P broker at Cleaves in Norway, said: “The prices are obviously affected by the below-market charters attached.”
Otherwise, ships of this type would be expected to command prices well over $70m, he argued.
The C Spirit is on charter with Trafigura until at least February 2024 at a rate of $36,625 per day, while the sister ship is fixed to Koch at $31,000 per day — and potentially until July 2024.
Adam Polemis’ New Shipping has been linked to the deal.
Straume noted that tanker supply is tight, with rates moving up again.
Brokers also linked SK Shipping to the sale of the South Korean-built 314,000-dwt C Emperor and C Vision (both built 2004) at $34.5m each.
They are also scrubber-fitted vessels.
All four VLCCs were ordered as newbuildings by SK Shipping.
The owner has been contacted for comment.
VLCC fleet streamlined
SK Shipping has a mixed fleet worth $6.11bn, according to VesselsValue.
This includes 22 VLCCs. If these sales are confirmed, the remaining large tankers will date from between 2008 and 2022.
The owner sold the 314,000-dwt VLCC C Champion (built 2003) for $37.8m in July to unknown buyers, with a special survey due.
Two MR2s built in 2003 went to Seven Islands Shipping in India and unknown Chinese interests in August, and two LR2s were sold earlier in 2023.
SK Shipping also offloaded two other VLCCs last year.
The company has not bought a vessel since 2021.
The last VLCC sale came at the end of October, when a veteran tanker was sold for the fifth time in three years as asset prices continued to fluctuate significantly.
The 319,000-dwt Timimus (built 2002) was offloaded for a fee in the low-$30m range to unknown owners.
The ship is listed as controlled by Yangfan Ship Management of Shanghai, China, which TradeWinds was unable to contact.
