Teekay bags modern aframax

Teekay Tankers has been revealed as the taker of a modern aframax sold by Union Maritime for what appears to be a low price compared to earlier sales, tabling $70.5m, according to Clarksons, for the three-year-old, 113,000 dwt Stirling, a Cosco Zhoushan-built ship. This is Teekay’s first modern tanker purchase in almost a decade. 

Sales of modern tonnage are rare, and ships have been sold at highly elevated prices.  VesselsValue estimates that this ship is worth $75m with only a handful of ships less than five years of age to compare the sale. 

The imbalance between relatively few ships for sale versus the number of buyers out there has kept secondhand tanker prices high this year.