United Maritime Corp is close to pulling off yet another remarkable asset play with a tanker purchased earlier this year.
The spin-off of US-listed Seanergy is in close talks to divest a 14-year-old LR2 product tanker at a considerable mark-up to the price it acquired it for in the summer, according to ship management sources in Athens.
Brokers in the US and London including Clarksons already report a deal for the 108,900-dwt Minoansea (built 2008) as done, for $39.5 deal with undisclosed buyers.
This is one of four product tankers that United acquired for $79.5m in July, when the company said that it was entering the oil carrier business.
The quartet used to belong to BULL of Indonesia and consisted of two LR2s and two aframaxes: the Minoansea, the 109,700-dwt Epanastasea (built 2008), as well as the 113,500-dwt aframaxes Bluesea and Parosea (both built 2006).
United Maritime has already turned a swift profit by selling the two aframaxes for $62.5m to Buena Vista Shipping — a company, which S&P Global Markets is listing as a client of India-based Gatik Ship Management. The Bluesea and Parosea are now trading as Hammurabi and Suleyman I respectively.
If confirmed, the sale of the LR2 Minoansea will be just the latest in a string of lucrative tanker deals confirming there are still buyers out there willing to pay top dollar for such ships.
Another transaction raising brokers’ attention in recent days was that of the 116,100-dwt aframax Houston Star (built 2007), which Greece’s Atlas Maritime reportedly sold for between $39m and $40m.
The Japanese-built vessel is due to be delivered promptly and passed special survey earlier this summer.
Some brokers suspect Turkish buyers are behind the deal. Others point to Gardsea Shipping, a low-profile Liberian company linked to Indian interests, which has been tied by brokers to other acquisitions recently: that of d’Amico Tankers’ 47,000-dwt High Valor (renamed Atoll, built 2005) and of Capital Maritime’s 106,000-dwt Antaios (built 2006) for about $33.5m.
Another Greek company in aframax sale mood has been Stalwart Management, which earlier this year offloaded the 106,600-dwt Voyager I (built 2002) — a vessel currently listed trading as Balsa in the fleet of UAE-based Asia Charm.
Dimitris Souravlas-led Stalwart may have agreed to sell yet another vintage aframax this week. US-brokers report the 105,700-dwt S-Trooper (built 2003) is going to undisclosed buyers for $24.3m — nearly three years after Stalwart bought the ship from Ridgebury Tankers for $11m.
Vardinoyiannis company Avin International is also reported to have found an opportune moment to sell one of its oldest ships, the Chinese-built 109,400-dwt LR2 Saint George (built 2002), for $23.5m.
