VLCC offer prices remain high

Pertamina Prime VLCC (Photo: Pertamina / Phaata)

Aframax vessels continue to be the most traded tanker segment this year, dominating the market, while VLCCs have also attracted significant interest. However, the price gap between buyers and sellers is still delaying sales of the semi-modern vessels, which are currently undergoing market testing.

Formosa Plastics Marine Corp put the VLCC FPMC C Intelligence (302,000 DWT, built in 2010) up for sale a few weeks ago. The ship was initially reported to be worth more than $40 million, but the Taiwanese owner later withdrew the offer after the price did not meet expectations.

Now, sources say that Alleria Shipping, a Hong Kong-registered company, has sold the Yinghao Spirit (296,481 DWT, built in 2009 by Bohai Shipbuilding Heavy Industry). The ship is said to have been sold for $52 million to an undisclosed buyer in the Middle East.

The latest transaction shows that VLCC prices remain high, in line with brokers’ forecasts of rising freight rates for ships trading outside the dark fleet. Brokers say buyers are willing to pay higher prices for reputable and compliance-compliant vessels serving profitable trade routes.

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Source: Phaata.com (According to Splash247)

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