Lomar Shipping has already clawed back almost all the $160m it spent 17 months ago to buy six chemical/product tankers from Germany’s Carl Buttner.
Nicholas Georgiou-led Lomar announced on Thursday that it stands to earn gross revenues of $132m from long-term charters it has agreed on four of these ships.
The fixtures concern the modern, ice-class tanker quartet Lomar acquired from Carl Buttner in October 2022.
The 38,000-dwt CB Baltic, CB Caribic and CB Pacific (all built 2020), and the 38,000-dwt CB Adriatic (built 2019) have been tied to employment lasting three to five years.
The charterers include “substantial commodity trading companies and oil majors such as Valero”, Lomar said.
Company officials did not immediately respond to a request to elaborate on the charters.
Clarksons’ data shows 37,000-dwt handysize product tankers earning $17,500 and $16,000 per day for three-year and five-year employment, respectively.
However, These are average figures and the four Lomar ships may be expected to be earning more, given their young age, ice-class notation and fitted scrubbers.
Lomar is mostly known for managing container ships and bulkers.
In 2022, however, the company made headlines by significantly expanding its modest tanker footprint with a $160m deal for Carl Buttner’s fleet of six chemical/product tankers.
Lomar has already flipped the two smallest and oldest ships in that group.
The 24,000-dwt Apollo (built 2003) was offloaded in early 2023 and is trading as Deniz out of Dubai.
Lomar took more time to sell the 24,000-dwt Aurelia (built 2006). Brokers reported that the vessel sold in December 2023 for $13m. It is now trading as the Samuda with Bangladeshi interests.
Broker reports suggest that Lomar raised $23m from the two sales.
