ICB Tankers Deal Boosts Weeks' Ship Sales

Friday, October 01, 1999
Greek shipowner John Angel-icoussis' acquisition of four ICB tankers last week was the highlight of a busier market, Allied Shipbroking Inc. said in its latest ship sales report. Angelicoussis paid $189 million in total for the Mindoro (1995-built, 300,294-deadweight tons), the Irian (1992, 286,006-dwt), the Ambon (1992, 285,771-dwt) and the Flores (1995, 284,410-dwt). Aegean Marine Petroleum, also of Greece, paid $2.5 million to buy the 1976 Norwegian-built tanker Maersk Ascension (60,810-dwt). Italian buyers also picked up two tankers last week. Gemarfin paid $8.75 million for the 1982 Japanese-built Meandros (40,632-dwt) while unknown Italian buyers paid $480,000 at an auction in the U.S. for the 1977 Italian-constructed Campo Duran (30,572-dwt). Other tankers sold last week were the 1993 South Korean-built Nathalie SIF (9,176-dwt) by Ramona of Sweden for $14 million and the 1970 British-constructed Stella Orion (5,093-dwt) taken by unknown buyers at an auction for $290,000. Two gas tankers were also sold last week, according to the Greek broker. Olympi of Chile purchased the 1968 French-built Mundogas Europe for $4 million including three years time charter at $9,000 a day, and MC Shipping based in Monaco bought the 1990 Japanese-built Leo Gas (4,316-dwt) for $4.8 million. Greek shipowners also bought heavily last week into bulk carriers, acquiring four of the six vessels sold. Thenamaris paid $14.3 million for the 1996 Taiwainese-built Arctic Navigator (41,712-dwt) while unknown Greek buyers paid $6 million for the 1982-built Multi-Purpose 2 (41,520-dwt). Unidentified Greek buyers also picked up the Japanese-built bulk carriers Haight (1977, 26,780-dwt) for $1.75 million and the Danang Glory (1981, 24,885-dwt) for $3.5 million. Two other bulk carriers were also sold - the European Trader (1994, 43,656-dwt) bought by Far Eastern for $15.5 million and the Asturias (1984, 25,357-dwt) by unknown buyers for $5 million. Seventeen ships were sold for demolition including five tankers, led by the 1974 Japanese-built TN Africa (274,597-dwt).

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