Mercuria Energy Group, one of the world’s largest trading houses, has acquired a 20-year-old VLCC from John Angelicoussis-controlled Maran Tankers in a rare deal.
Industry sources said Mercuria recently bought the 306,000-dwt Maria (built 2000) from the Greek owner for $19.5m. VesselsValue estimates the ship is worth about $19.6m.
Constructed by Daewoo Shipbuilding & Marine Engineering, the ship had been named Maria A Angelicoussis until November, according to industry databases.
TradeWinds understands the vintage vessel will be mainly for trading but could also be used for storage and bunker blending when opportunities arise.
“As Mercuria is growing, they are looking at new things,” one of the sources said. “This is a new area…[for] the company.”
Mercuria is an active tanker charterer in spot trade and occasionally takes vessels on period charters. VessesValue data shows it has a time-chartered fleet of four VLCCs and two suezmaxes.
But the trader has seldom made any direct vessel purchase.
Its only known deal was the acquisition of the 307,100-dwt DHT Phoenix (built 1999) from DHT Holdings for $19.1m in 2017. Equasis data suggests the VLCC has been used by Nathalin Shipping as a storage unit in Malaysian waters in recent years, and it is not clear whether Mercuria still has ownership of the vessel.
The trader has, however, been expanding in the bunkering sector after taking over troubled Aegean Marine Petroleum Network and its fleet of bunkering ships in 2019.
Minerva Bunkering, Aegean’s new name as a wholly owned subsidiary of Mercuria, secured a licence to supply marine fuels in Singapore – the world’s largest bunkering hub – in April.
Fleet renewal of Angelicoussis firms
Meanwhile, the Angelicoussis group of companies have been shedding old tonnage and buying new ships amid fleet renewal efforts.
Aside from the Maria sale, Maran Tankers reportedly sold the 310,00-dwt Maran Gemini (built 1999) for $19m and Maran Regulus (built 2000) for $21m in December.
The company declined to comment, citing standard corporate policy to not discuss commercial matters.
The reported deals came after Maran paid $110m en bloc for the 318,000-dwt Tai San (renamed Maran Lupus, built 2009), Tai Hung San (Maran Lyra, built 2010), and the 319,000-dwt Pu Tuo San (Maran, Lynx, built 2011) in October.
Those were part of Xihe Holdings' fire sales following the collapse of sister companies Hin Leong Trading and Ocean Tankers.
Also, affiliate Maran Dry sold off an ageing capesize and replaced it lately with a much younger one, acquired from George Economou.
Maran Gas has been linked to orders for three LNG carrier newbuildings in South Korea.
