Agreements for the purchase and sale of oil product tankers have been increasing over the last weeks, and Greek shipowners are once again playing a leading role.
“The market for product tankers has attracted the interest of the investors and a large number of sales was recorded this week,” shipping broker Hartland Shipping Services said in a recent note.
“Buyers are showing particular interest in product tankers, with some notable deals being closed in the larger sizes as well,” George Moundreas & Company S.A. underlined.
The increased interest in deals is also explained by the fact that the secondary market offers an outlet for shipping companies aiming to renew and strengthen their fleets, and are discouraged by high prices at shipyards, with delivery times beyond 2027.
Minerva Marine, owned by Andreas Martinos, is one of these companies. In particular, the company has reportedly signed a letter of intent (LOI) with a Chinese shipyard to manufacture LR2 tankers.
IMS SA is another company which according to Greek and foreign brokers has proceeded with the purchase of the MR tankers Sunny Sky (capacity 38,374 dwt and built in 2008), for about 18.5 million dollars, and MR Euphrates (capacity of 49,999 dwt and built in 2008), with a price of about 20.8 million dollars.
