Russian tanker giant Sovcomflot (SCF Group) is putting another suezmax tanker on the market in an apparent effort to continue a phase-out of its older tankers in this size class.
European shipbrokers said the company’s Hyundai Heavy Industries-built, 159,000-dwt SCF Caucasus (built 2002) is up for sale.
The tanker is expected to fetch between $19m and $20m, although some sources claimed SCF Group has found a buyer for $19.5m.
The deal comes as values for such ships are on the rise.
VesselsValue’s assessment of the SCF Caucasus — due for special survey in March 2022 — has been rising since September and October 2018, when the ship’s value bottomed out at around $11.3m.
The shipowner, which could not be reached for immediate comment, paid Athenian Sea Carriers $56m for the SCF Caucasus in a resale deal in June 2001.
SCF Group has already sold two sisterships this year.
The SCF Altai (built 2001) made $17.7m and the SCF Khibny (built 2002) $19m. They both went to Greek newcomer Edge Maritime.
Sovcomflot has another two sisterships — the SCF Sayan and SCF Coral (both built 2002) — and it is considered likely that these will be sold as well.
The Russian company controls more than 100 ships on the water, plus newbuildings. Its fleet includes 11 suezmaxes with an average age of 14 years.
Sovcomflot is also disposing of elderly MR tankers, selling two this year in addition to an aframax.
