SIMIC

SHORTLY after Adam Polemis' New Shipping made US$14 million on a 21-year-old VLCC bought six years ago, the famous Greek owner is back in the second-hand market, adding two modern 10-year-old VLCCs.

Broking sources said that South Korea's SK Shipping is offloading the 314,000-dwt scrubber-fitted pair C Spirit and C Challenger (both built in2013) to New Shipping for $67 million and $65 million, respectively. The final price is still unclear as the rate is based on a short period charter that will be decided on later. A rough estimate made by VesselsValue sets the market value for the two ships at $146 million if sold charter-free today.



The first ship was built at Hyundai Heavy in Korea while the latter ship, a tanker built in Dalian in China, reports Singapore's Splash 247.



This is the third deal by New Shipping this year. New Shipping started the year with the acquisition of a cape from GoodBulk, bringing its cape arm up to 10.



Mr Polemis has a preference for big ships. New Shipping's fleet, which is valued at close to $1 billion, counts 30 ships, including five elderly VLCCs, averaging 17 years in age.