Shipowners' interest is rising in late 1990s-built VLCCs.
Clarksons said, “The perceived value of these vessels is attracting a number of cash buyers to the table.”
“This is because whilst traditionally we would have expected more interest in the modern sector, the lack of finance available has meant some buyers have had to realign their expectations to cater for the higher cash requirements needed to make a purchase.”
Recently Tsakos Energy Navigation of Greece was reported to have lined up a buyer for one of its oldest VLCCs.
Brokers say the owner netted $21m from the sale of the 300,000-dwt La Madrina (built 1993) to the Singapore-based shipping arm of Chinese bunker supplier Southernpec.