The Greek-owned company Eurotankers has sold its LR2 tanker built in 2009 for 60 million dollars. This deal is part of the trend of selling older cargoes that are facing high second-hand prices in the current market conditions.
Tanker Deal Details
According to published information, the Eurointegrity tanker with a gross weight of 105,291 tons, built by Hyundai Heavy Industries, has been sold for 60 million dollars in this deal. The name of the buyer has not been disclosed. Eurotankers purchased this vessel in 2018 for approximately 20 million dollars, thus the recent sale price is three times its purchase price eight years ago. Maritime brokers note that the Eurointegrity tanker is scheduled to go for dry dock in March 2027.
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Continuation of the Trend of Selling Older Cargoes
This sale is part of the ongoing trend of selling older cargoes that Eurotankers has been pursuing since late last year. In this context, the company sold the VLCC Eurovictory, built in 2009, for approximately 61 million dollars and the suezmax Euroleader, built in 2004, for about 29.5 million dollars. These actions have helped reduce Eurotankers' reliance on older tankers and improve its strategy in the global market.
The company, led by Michael Gotsis, has also been associated with the sale of two handysize bulk carriers earlier this year and the purchase of a Japanese-built aframax tanker from 2018 named Southern Reverence, which is now operating under the name Aldan.
These developments clearly indicate Eurotankers' strategy in managing its fleet and focusing on newer and more efficient vessels in the current market conditions, which, with high second-hand tanker prices, provide suitable investment opportunities.
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