Hadjiyiannis More Than Doubles His Money on A Rusty VLCC


For tanker owners doubling their money has never been easier as VLCC values has been on the rise for months. With less sales to report in the last couple of months, brokers indicate that the market might have peaked, reports Splash247.

An interesting off market deal

This week brokers note that Hellenic Tankers has sold the 18-year-old ship, the 306,000 dwt Princess Mary, built 2004, for $51m. The Andreas Hadjiyiannis-led firm added the ship for $22.5m five years ago.

The same owner was reported selling another same aged VLCC for $2m less in October.

Sales talk also surrounds an interesting off market deal, a ship that used to belong to DHT Holdings. Brokers report the 301,000 dwt, 2008-built tanker now named Erecter as sold. No price was attached to deal. This ship has changed hands three times since 2017. Equasis notes that the ship has had three undisclosed Chinese accounts as registered owners since last year.

Did you subscribe to our daily Newsletter?

It’s Free! Click here to Subscribe!

Source: Splash247