Greece’s Tsakos group usually expands with newbuildings on the back of secured employment.
The major Greek owner seems to have made an exception to its rule, however, after spotting an opportunity to lay its hands on modern tanker tonnage in an en-bloc deal for resale and secondhand tankers.
Several market sources are relating the acquisition of five such ships by the Greek company.
Some identify the vessels changing hands as a stable of tankers currently in the fleet of Norway’s Viken Shipping.
They are named the 110,000-dwt LR2s Askviken and Angleviken (both built 2023); the 112,900-dwt aframaxes Eikeviken and Breiviken (built 2018); as well as the 156,900-dwt suezmax Morviken (built 2018).
Managers at Viken did not respond to a request for comment.
Based on readily available valuations by data providers VesselsValue and Signal Ocean, a deal for the five ships would be worth between $350m and $400m.
It is unclear if the Tsakos family is buying privately or on behalf of their public company, Tsakos Energy Navigation (TEN). Experience suggests that TEN — a spokesperson for which declined to comment — is most likely the buyer.
Big fleet renewal moves
The Tsakos clan puts the vast majority of their tanker fleet with TEN.
A few tankers are indeed held separately with private arm Tsakos Shipping & Trading. Those vessels, however, are older than those controlled by the public company.
That applies, for instance, to a series of four LNG dual-fuel aframax newbuildings currently being delivered by DH Shipbuilding.
Three of the four units — the 115,000-wt Chios DF (built 2024) and sister ships Run DF and Njord DF (both built 2023) — are already with TEN.
The fourth ship, to be named Ithaki DF, is set to follow in the first quarter of this year.
All four ships are tied on long-time charters with Norway’s Equinor.
The Viken ships that Tsakos is believed to be buying now are coveted vessels with attractive characteristics.
The Samsung Heavy Industries-built Breiviken and Eikeviken come with ice-class 1A notation and hybrid scrubbers.
The dual-fuelled Askviken and Angleviken have only recently been delivered by Guangzhou Shipyard International and placed under Wallem Group management in October.
Most of the five ships were trading with French energy major Total Energies, with whom Viken enjoys close working relations.
If confirmed, the sale of the five ships would leave Viken with five shuttle tankers built in 2012 and 2013 as well as two small product tankers.
