Asset prices have fallen in a quiet secondhand tanker sale-and-purchase sector, brokers say.
What little activity there has been is focused on older LR1 product carriers.
Greece’s Allied Shipbroking said: “Tanker S&P remains limited in volume, but the sales that are concluding are suggesting a market that has softened over the past month or so.”
However, the Athens shop pointed out that this is “far removed from the correction seen in dry bulk secondhand prices”.
Brokers reported the 72,900-dwt LR1 Octa Lune (built 2005) sold in the low $20ms to Chinese buyers.
The South Korean-built tanker is said to be trading in the dirty tanker market currently.
The vessel is owned by Coral Shipping in Greece, which has been contacted for comment.
VesselsValue assesses it as worth $20m, down from $25m before the sale, but this deal shows there is still money to be made even in a falling price environment.
The ship was bought from Sun Enterprises in Greece in 2021 for just $12m.
Chinese ship sold
Brokers also said the 12,500-dwt clean tanker Huitong 78 (built 2012) has gone to undisclosed buyers for around $7m.
The ice-class II vessel is said to have been sold by Shanghai Huitong Shipping, which has been contacted for comment.
VesselsValue has a value of $12m on the ship, which was bought in 2022 from China’s Zhoushan Haiguang Shipping Transportation for an undisclosed price.
One ship that has fetched a firm price is UK owner Zodiac Maritime’s 74,500-dwt Fulham Road (built 2013), said to have gone for $44.6m to unnamed Greek interests.
VesselsValue assesses the South Korean-built LR1 tanker as worth $37m, down from $40m a month ago.
Zodiac Maritime has been contacted for comment.
