Onex DMCC is recognized as one of the active and powerful buyers of VLCC (Very Large Crude Carrier) tankers in the global market. The company has made a significant impact on the shipping market by purchasing at least five large tankers. According to reports, Onex's recent purchases have been conducted under brokerage supervision and registration, clearly indicating the company's desire to expand its shipping fleet.
Details of Purchases and Prices
On September 11, reports emerged that Onex successfully purchased the VLCC tanker Pinios for a record price of $200 million. This tanker, previously owned by George Procopiou, has been renamed Promise after the purchase. This acquisition demonstrates Onex's financial strength and investment strategy in the tanker market.
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In addition to Pinios, four other tankers have been added to this list, including the Ashoka tanker with a capacity of 303,000 deadweight tons at a price of $130 million and the Dennie tanker with a capacity of 308,000 deadweight tons at a price close to $40 million. The Dennie tanker, built in 2000, was sold last year for about $30 million and has now been renamed Ennie.
Tanker Market Developments and Implications
These transactions occur as the tanker market is experiencing unprecedented changes. Recently, the VLCC freight rate on the route from the Persian Gulf to China has reached over one million dollars per day for the first time. This price increase reflects the high global demand for tankers and the rising transportation costs in this industry.
In this context, the value of 10-year-old tankers has also surpassed newbuilding prices for the first time, with reports of 15-year-old tankers selling above newbuilding prices. These developments may indicate structural changes in the tanker market and provide investors and shipping companies with important information about the future of this industry.
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