South Korea’s KSS Line has emerged as the buyer of an MR tanker from Scorpio Tankers last week.
European brokers said the Asian owner has taken the 49,990-dwt MR STI Tribeca (built 2015) for $39.1m.
Scorpio did not identify the buyer in a statement. KSS later confirmed the deal to TradeWinds.
The purchase ties in with a KSS announcement earlier in January that it had arranged a time charter worth KRW 44.1bn ($48m) with HD Hyundai Oil in Singapore for a 49,990-dwt MR tanker.
This unnamed vessel will serve for four years and the deal represents 9.9% of KSS’ 2022 revenue figure.
The contract value equates to a rate of nearly $32,900 per day.
KSS said it has three MRs, whereas shipping databases list just two of 49,999 dwt built in 2020 and 2022, suggesting another has been added.
“Through this contract, KSS Line plans to expand its worldwide energy maritime transportation sector,” the owner said.
KSS also operates 10 LPG and smaller clean tankers.
Further expansion planned
“By introducing competitive new and secondhand vessels expediently, KSS Line plans to further expand in the future,” the company added.
“In addition, the company is quickly responding to strengthening environmental regulations by acquiring eco-friendly vessels such as LPG and methanol dual-fuel propulsion vessels for the first time in Korea,” KSS said.
VesselsValue had a price of $38.9m on the tanker, which was bought back by Scorpio Tankers from CMB Financial Leasing in December at an unknown price.
The ship was chartered to Trafigura for three years in 2022 at $21,000 per day.
The STI Tribeca’s lease carried interest at Libor plus 3.2%.
