Compliant VLCCs attract firm prices

Aframaxes remain the most popular tanker sales candidates this year, dominating the market, while VLCCs are also attracting interest. However, a price gap between buyers and sellers continues to delay deals for semi-modern vessels, ships now being tested on the market.

Formosa Plastics Marine Corp put the 302,000 dwt FPMC C Intelligence (built 2010) a few weeks ago. Initially reported to be sold for a high $40m, the Taiwanese player then withdrew the vessel because the price did not match its expectations.

Now, sources tell Splash that Alleria Shipping, a Hong Kong-registered company, has sold the 2009-built , 296,481 dwt Yinghao Spirit, a Bohai Shipbuilding Heavy Industry-built ship, saying the vessel is said to have fetched $52m from undisclosed Middle Eastern buyers. 

The latest sale shows VLCC prices continue to firm in tune with brokers’ forecasts of higher rates for ships trading outside the dark fleet. Brokers note buyers are willing to pay a premium for tonnage of reputable propriety for lucrative, compliant trading.