The Stena Sonangol Suezmax Pool, one of the most longest lived commercial operations of its kind, has started disposing of its oldest tankers.
Sources with knowledge of the situation told TradeWinds that Sonangol has sold its two oldest suezmaxes for demolition.
But it appears the 159,000-dwt Sonangol Luanda and Sonangol Girassol (both built 2000) left the company some time ago.
US brokers said the suezmaxes, both built at Daewoo Shipbuilding and Marine Engineering in South Korea, have been sold for $14.1m each, which is in line with a scrap price for the tankers.
Last year, the pool turned 15 years old. It largely consists of tankers from Swedish tanker owner Stena Bulk the Angolan state oil company Sonangol.
The website of Stena Sonangol lists a fleet of 21 suezmaxes with an average age of 9.2 years.
Stena Bulk chief executive Erik Hanell told TradeWinds that the pool cooperation is functioning well.
But he stressed that 2021 likely will be one of the worst years in a long time for tanker owners, unless they are covered by contracts of affreightments (COAs) or time charters.
The sales come as Sonangol has been renewing its fleet. In August last year, the company sold the 159,000-dwt Sonangol Kizomba (built 2001) to a Chinese buyer for $12m.
As TradeWinds reported in April, Sonangol firmed up its first newbuilding order at Hyundai Samho Heavy Industries. With its partner Stena Bulk, the company placed an order for two suezmaxes at the South Korean shipyard.
