Kyklades Nets Big Price For 2009-Built VLCC

Credit: Teekay Tankers

Greek owner Kyklades Maritime has almost doubled its money on a 2009-built VLCC it has just sold for $62m, offloading the Imabari-built, 310,000 dwt Limnia. The ship was added from Nippon Yusen Kaisha (NYK) for $38m in July 2021, reports Splash247.


The Greek tanker player has decided to let go of its only VLCC despite the fact that the ship could be easily fixed at close to $100,000 per day with Kyklades joining a string of other Greek owners cashing in and selling ships in the current hot tanker market.

VLCC spot rates have strengthened since mid-February, recently surpassing $100,000 a day. Increased Far East demand, particularly to China, has led to a jump in cargo volumes out of the Middle East, West Africa, and US Gulf.

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Source: Splash247


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