US private equity player Oaktree Capital Management has reportedly trimmed its fleet with the sale of some of its oldest tankers.
Either one or both of the 13,200-dwt Golden Oak and the 13,100-dwt Valley Oak (both built 2008) have been offloaded this week, brokers said.
Prices were said to be around $10.5m for South Korean-built vessels assessed as worth above $11m by valuation platform VesselsValue.
Both ships were acquired from Marida Tankers in the US a decade ago.
The Golden Oak was bought in 2014 for an undisclosed amount. The Sekwang Shipbuilding-built Valley Oak was part of a bank sale to Oaktree the year before.
The ships are among Oaktree’s oldest vessels, with one more tanker built in 2008 remaining in the fleet.
Oaktree declined to comment on the reports and the potential buyers have not yet been identified.
The group is listed with 46 of its own vessels.
Sales slow to a trickle
These include 16 tankers, which are either small clean vessels or MR vessels.
There are also bulkers, container ships and LPG carriers.
The company controls Danish product tanker owner Torm and accommodation vessel owner Floatel International.
There are also more minor stakes in Hafnia and Star Bulk Carriers, while financing subsidiary Fleetscape Capital owns a VLGC.
Tanker sales have been scarce this week in a weaker rate environment.
The only other deal reported was the J19-type 19,700-dwt stainless steel chemical carrier Golden Yosa (built 2008), said to have gone for a little above $21m.
The Dorval SC Tankers vessel is assessed at $23.7m by VesselsValue, showing the pressure on asset prices.
