Major tanker owner Tsakos Energy Navigation (TEN) continues riding the wave of high tanker values, selling its third ageing vessel this year and the 11th since the beginning of 2023.
Greek brokers and market sources said the company had bagged $40.5m for the 164,600-dwt Euronike (built 2005).
Built at Hyundai Heavy Industries’ Ulsan yard, the ice-class 1C ship is TEN’s oldest suezmax and the second-oldest vessel in the company’s fleet of 59 tankers in the water.
TEN does not discuss commercial transactions outside public statements but it is known to be shaking out older vessels as part of a wide-ranging fleet renewal policy.
A confirmation of the Euronike’s sale at the reported price of $40.5m would provide further evidence of the robust state of the market and the continuing appetite for such vessels on the part of prospective, mostly Asian, buyers.
Back in January, TEN sold an identical sister ship for a much lower price.
As TradeWinds already reported, TEN said at the time that it had sold the 164,600-dwt Eurochampion 2004 (built 2005) for “approximately” $40m.
However, in the annual report filed in April, TEN clarified that the actual, aggregate sale price was $38m.
The ship is currently trading as the Mianzimu in managed fleet of Seychelles-based Reef Marine.
The Euronike and the Eurochampion had both been the object of some financial engineering by Tsakos.
In December 2017, the company entered into a five-year sale-and-leaseback agreement for the two ships with Pareto.
However, TEN ended that sale-and-leaseback deal at the beginning of 2023, when it bought both vessels back.
