Marios Gialozoglou-led IMS SA, a company known for its strong presence in the secondhand tanker market in recent years, has kicked off 2025 on a strong note with the acquisition of two vessels from Teekay Tankers
The Greek shipping company has become the new owner of 105,600-dwt /LR2 vessels, Bourda and Anemoni. Previously named Donegal Spirit and Galway Spirit, the vessels were built in 2006 and 2007, respectively.
The pair of vessels were previously owned by US-listed Teekay Tankers, which has been strategically renewing its fleet. Teekay has disclosed the sale of five vessels in Q1 2025, including three Suezmaxes and two LR2 tankers. George Prokopiou-headed Dynacom Tankers has been identified as the buyer of two 2009-built Suezmaxes.
In February, Teekay also entered into an agreement to acquire a 2019-built LR2 tanker, with Metrostar Management, a Greek-owned company, identified as the seller.
IMS’ buying spree
According to Equasis, IMS SA now owns 27 tankers, with 20 of them added to the fleet from 2023 onwards. Apart from the two acquisitions this year, IMS SA expanded its fleet with 13 tankers in 2023 and five in 2022. The majority of the fleet is in the MR segment, though the company also operates LR1 and LR2 tankers.
IMS SA has also executed several asset plays in the market, capitalising on buying tankers at low prices and selling them at higher costs. In January, Riviera reported the sale of 2008-built Aframax, Nemo, which IMS SA had purchased in 2021 for approximately US$16M, making a substantial profit from its subsequent sale. The vessel now falls under Chinese ownership.
Aframaxes remain popular
Tanker sale and purchase activity has been moderate in the first part of 2025. According to Allied Shipbroking, 94 vessels with an average age of 16 years changed hands by 24 March. Among these, MR and /LR2 tankers led the field, with 25 and 24 deals respectively.
Chinese interests continue to dominate the buying side, with Chinese shipping companies acquiring 68 tankers over the past 12 months. In comparison, Greek owners secured deals for 46 vessels. On the selling side, Greece-based owners have divested 78 tankers, making them the largest sellers in the market.
In terms of pricing, secondhand vessel values have corrected significantly in recent months. According to Xclusiv Shipbrokers, values have declined between 1% and 20% across all vessel segments and age groups when comparing March 2025 with March 2024. The only exception to this trend is the value of VLCC resales and five-year-old vessels.
