Several brokers reported that Pantheon Tankers Management had agreed to sell the 105,100-dwt Astro Sculptor (built 2003) for about $12m in July last year.

As TradeWinds reported at the time, the information was inaccurate. The ship would soon be out of dry dock and could therefore expect to fetch more than $13.5m if offered for sale, ship-management sources said.

Nearly a year later, the owners’ decision to hold onto the vessel has proved astute.

According to a ship-management source in Athens, Pantheon agreed to sell the vessel this week for $15m.

This far exceeds the $13.1m to $13.4m price range that VesselsValue and MSI Horizon estimate the South Korean-built ship to be currently worth. The Astro Sculptor is due for special survey next year.

After months in the doldrums, tanker earnings have undergone a revival following Russia’s invasion of Ukraine, boosting buying interest and secondhand prices in the process.

Sale-and-purchase activity is also underpinned by record demolition prices, which have broken through the $700-per-ldt mark recently, elevating the price floor for older tankers.

VesselsValue estimates the Astro Sculptor’s demolition value at $12.8m.

Such market conditions favour companies such as Pantheon, which have major fleet-renewal programmes underway.

Led by Anna Angelicoussi and her son, Frangiskos Kanellakis, the company will have taken delivery of 21 tanker newbuildings by the end of 2022 — over a span of just six years.

Socar, Bergshav sell last aframaxes

In another aframax deal reported by brokers this week, the 107,500-dwt Silver (ex-Zarifa Aliyeva, built 2010) is said to have changed hands for about $24.3m.

This is about the price the same vessel was believed to have fetched in December, when Azeri state company Socar Overseas reportedly sold it to Greek or Italian buyers en bloc with sistership Heydar Aliyev.

However, only the deal for the Heydar Aliyev materialised at the time. The ship is currently trading as the Sea Valiant with Greece’s Sea World Management & Trading.

Another aframax transaction reported recently concerns the 105,600-dwt Banda Sea (built 2007), which unidentified Greeks are said to have bought from Eastern Pacific Shipping for $21m.

In a separate deal, Bergshav reportedly sold the 115,100-dwt Berica (built 2008) for $23m. This would be the second aframax sold in quick succession by the Norwegian company.

A sale of the Berica would leave Bergshav with no more aframaxes in its fleet.

Earlier this year, the company disposed of the 105,800-dwt Bergitta (built 2007). The ship has been trading since as the Sifis in the fleet of Greece’s fledgling Westport Tankers.