John Fredriksen-led private shipping company Seatankers Management is reportedly continuing its divestment of bulk carriers, with a particular focus on the Kamsarmax segment
According to Greek shipbrokers, 2014-built, 81,700-dwt Sea Pegasus and Sea Gemini are changing hands for approximately US$17.5M each, with buyers remaining undisclosed.
Market sources note Seatankers is consistently viewed as a “potential seller” in the secondhand market. “It rarely puts ships officially up for sale, but with Seatankers, everything is for sale at a price,” one source said.
Shipbrokers added the reported prices for the two vessels are in line with previous Seatankers deals this year. Sea Pluto, a Kamsarmax built in 2013, was sold for around US$17.0M, while Sea Marathon, built in 2015, fetched approximately US$18.5M.
A continuing sale spree
Riviera reported earlier this year that Seatankers has been actively divesting tonnage in the bulk carrier segment. Several of the vessels sold have now emerged under new ownership.
Sea Pluto has been renamed HN Doris and is now operated by Chinese interests. Sea Marathon has been renamed Minoan Marathon and is managed by Greece-based Modion Maritime Management. Sea Venus, built in 2013 and also reportedly sold, has yet to be renamed. Meanwhile, Sea Poseidon, a 2011-built Capesize, is now sailing as Sea Lyra under Chinese ownership.
All six vessels involved – including the two most recently linked to sales – were built at Chinese shipyards, which typically offer a pricing discount compared to Japanese-built ships.
Newbuilding programme underway
Despite the wave of secondhand sales, Seatankers continues to expand its fleet through a significant newbuilding programme in China, comprising 10 bulk carriers: six Newcastlemaxes and four Kamsarmaxes.
All newbuilds are under construction at China Merchants Industry Qingdao Shipyard.
Riviera reported in May on the milestone delivery of Sea Lyra, the first in a series of Kamsarmaxes for Seatankers. The vessel also marked the first delivery from the yard since China Merchants Industry Holdings acquired Qingdao Yangfan.
