Acquisition of VLCC tanker by New Shipping

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As the data show, the company purchased the VLCC “Nave Constellation” from Navios Maritime Partners, of Angeliki Frangou’s interests, for $52.5 million.

The vessel, with a capacity of 297,000 dwt and built in 2010, has already been renamed “New Strength” and joined the fleet of New Shipping, according to S&P Global data.

This is the fourth investment in tankers by New Shipping in the last three months.

It was preceded by the purchase of the LR2 “Hesperia Tide”, (renamed New Spiros) as well as the order of two Suezmax-type tankers at Samsung Heavy Industries, worth $169 million. New Shipping has a fleet of approximately 30 vessels (bulk carriers and tankers).