HMM Sets New Price Benchmark With Latest VLCC Acquisition

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Tanker buyers are franticly calling their bankers, eager to secure loans and dip their investments back into the suddenly bullish market. Sellers are also smiling, offloading ships at a time when new benchmarks are being set weekly.

Brokers, meanwhile, are counting down the days till 2022 experiences the first secondhand VLCC to go for more than $100m.

This week, sales talk is surrounding the first modern VLCC shifting hands since June. Multiple brokers report that the three-year-old, 300,000 dwt C. Guardian has been sold for $98m by Korean owner SK Shipping.

Compatriot owner Hyundai Merchant Marine (HMM) is the buyer of the ship. The price is $3 more than Greek tycoon Nikolas Tsakos was reported paying for the one-year younger Hyundai Heavy-built Elandra Everest at the end of June.

With the dramatic upswing in VLCC earnings, the Baltic Exchange has repeatedly set higher five-year secondhand values for tankers over the past weeks, which now stand at $81.2m, up 12% this year.

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Source: Splash247

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