United Arab Emirates-based GCC Fuel Supply has been confirmed as the buyer of a second VLCC from China Merchants Energy Shipping (CMES).
The Chinese tanker owner said it had sold the 298,972-dwt New Spirit (built 2005) to the Sharjah-based company for CNY217.58 ($32.4m), according to a regulatory filing.
The new owner has paid of a deposit of $3.385m for the Japanese-built ship and is due to take delivery of the vessel before the end of July 2022.
In May 2022, CMES, which is the world’s largest VLCC owner, sold the 296,000-dwt VLCC New Talisman (built 2009) to GCC Fuel Supply FZE for CNY249.5m.
GCC Fuel Supply FZE is said to be mainly engaged in the import and export, supply and storage of petroleum and chemical products.
The latest disposal is part of a strategy by CMES to dispose of tankers with inferior fuel efficiency that has seen it offload several VLCCs.
CMES, which has a fleet of 51 VLCCs, says some of its older vessels are between 20-30% less efficient than current tanker designs.
Previous sales have included the 297,600-dwt New Coral (built 2010), which was sold to Greek buyers in late 2021 for $38.5m, according to VesselsValue.
Last year, CMES sold the 297,300-dwt VLCC tanker New Creation (built 2009) to Thenamaris for CNY 249m, while the 299,000-dwt New Century (built 2009) was sold to unspecified interests for $31m.
Secondhand sales of VLCCs in the year-to-date have reached 44, according to Clarksons, with 15 of those in May alone. A total of 92 VLCCs changed hands last year, according to the broker.
Separately, CMES confirmed that it had taken delivery of a 307,000-dwt VLCC newbuilding on 18 June 2022 from Dalian Shipbuilding Industry Co.
The shipowner is in the process of taking delivery of six new VLCCs, all built by Dalian, two of which will be equipped with wind propulsion and air lubrication technology.
