Norway's Kristian Gerhard Jebsen Skipsrederi (KGJS) has sold an LR3 product tanker almost half a year after it was put up for sale.
Brokers said the company has sold the 158,000-dwt SKS Segura (built 2007) for $20m — a lower-than-expected price.
VesselsValue estimates the Hyundai Heavy Industries-built tanker to be worth $22.4m. The ship is due for special survey in September 2022.
Geir Mjelde, the chief executive of the Bergen-based shipowner, did not respond to request for comments.
At the same time as the SKS Segura was placed on the sales block, KGJS also put the sistership SKS Satilla (built 2006) on the market, but this tanker remains unsold.
Both ships have been in the SKS fleet since they were new.
The SKS Segura deal appears to demonstrate how the low tanker spot market is having an impact on values. When the duo was reportedly put up for sale, a price of $24m and $26m was expected for each of the ships.
Last year, KGJS sold two suezmax tankers at falling prices. In February 2020, the company sold the 159,000-dwt SKS Saluda (built 2003) for $22m to Luendra Tankers of Singapore. In June, the sistership SKS Sinni (built 2003) went to Salmar Shipping of Greece for $20m.
The KGJS Group is a leading shipowner in Norway with 16 tankers, including four LR3 tankers, in its fleet. It also has eight kamsarmax bulkers owned in a 50:50 joint venture with JP Morgan. The company is also a leading player in the cement carrier business.
The KGJS Group is owned by Hans Peter Jebsen and his family.
