The sale of a second elderly VLCC has been reported in a busier secondhand tanker market this week, although prices are still falling.
Greek broker Xclusiv said: “The recent period of subdued activity has given way to a more active week.”
Asian buyers were said to have acquired the 306,400-dwt Xidi (built 2004) for more than $30m.
VesselsValue assesses the ship as worth $35m, down from $41m a year ago.
Thailand’s Nathalin Group is one buyer mentioned by brokers. It has been contacted for comment.
The Thai owner has 26 tankers, but only one VLCC, built in 2002.
The Xidi, listed as currently controlled by unknown Chinese interests and owned by Xidi Shipping in Liberia, was offloaded by Japan’s Mitsui OSK Lines in 2021 for only $28.5m.
This was just before war broke out in Ukraine, sending values soaring.
Earlier this week, TradeWinds reported the 281,000-dwt Tricia II (built 2000) sold for $20.9m to an unknown buyer, against a valuation of $24.9m.
UK shipbroker Clarksons lists this vessel as having had “frequent flag changes” and “frequent name changes”.
The insurer is not known.
The Comoros-flagged Tricia II was switched from the Panama register last year following a series of sales.
Eva Tzima, head of research & valuation at Greece’s Seaborne Shipbrokers, said most owners remain on the selling side when it comes to older tankers.
She noted some “soft” signs of stabilising asset prices.
Improving freight markets over the past couple of weeks are helping give back control to a few sellers, “who appear a bit more confident in their asking prices and are now refraining from pushing further down their acceptable fixing levels”, Tzima added.
Clarksons Securities said on Monday that tanker values are continuing to soften.
Prices fell by $1m last week, with five-year-old MRs losing nearly 10% of their value in the past two months, the investment bank added.
