The US-listed Teekay Tankers has strengthened its fleet by acquiring a modern Suezmax tanker, marking its second vessel purchase this year and potentially signaling a shift in its asset strategy.
The company has added the 157,374-dwt *Ulsan Spirit* (formerly *Nordic Thunder*), built in 2017, to its fleet. In late June, shipbrokers reported the vessel was sold to a Greek buyer for approximately $66 million, but the latest market information indicates the original deal fell through, and Teekay ultimately acquired the ship.
European shipbrokers estimate Teekay’s purchase price to be around $65 million. Data from Xclusiv Shipbrokers shows the current market value for a 10-year-old Suezmax tanker is about $62 million, a 9% year-on-year decrease.
The latest weekly report from Allied Shipbroking notes that 22 Suezmax tankers with an average age of 17 years have changed hands year-to-date, reflecting the scarcity of modern tonnage in the secondhand market. Given this, many owners are focusing on newbuildings for fleet renewal strategies, with Allied data showing 29 new orders placed this year.
Fleet Strategy Evolution
In the first-quarter report released in early May, Kenneth Hvid, President and CEO of Teekay Tankers, stated that the company had sold six older vessels this year, generating approximately $183 million in proceeds.
“While we have been more active in selling than buying vessels recently, we expect this trend to gradually change as we identify opportunities to acquire modern tonnage,” Mr. Hvid said.
Earlier this year, this publication reported that Teekay acquired the 2019-built LR2 tanker *Prostar* from Metrostar Management, led by Theodore Angelopoulos. The transaction has now been confirmed as completed, with the vessel renamed *Semakau Spirit* and added to Teekay’s existing fleet.
According to its official website, Teekay Tankers currently operates a fleet of 42 vessels, including owned and chartered-in ships.
