Sale & Purchase Report

Tankers

The renewed escalation around the Strait of Hormuz continues to dominate market sentiment. Iran has declared the strait closed “until further notice”, strikes have resumed on both sides, and transits have fallen to their lowest level in five weeks. Brent has surged to abt USD 86/bbl as the market reprices the risk of a prolonged disruption.

For the S&P market, the implications remain supportive. A meaningful share of the trading fleet is effectively tied up or rerouting, war-risk premia are elevated, and owners are reluctant to part with tradeable tonnage. As a result, secondhand values remain firm across segments. Vintage units in particular continue to command levels that would have seemed unthinkable last year. Buyers appear willing to pay for prompt, unencumbered tonnage, and the week’s reported sales bear this out.

In the MR segment, the “MFM Memphis” (abt 48,000 dwt, blt 2011 Iwagi Zosen) was reported sold at USD 26.80 mill. The “Dylan” (abt 49,000 dwt, blt 2009 Guangzhou) changed hands at USD 20.90 mill. The spread between the two neatly illustrates the persistent premium commanded by Japanese-built tonnage. Further down the size range, the small tanker “Hai Xiang You 3” (abt 5,000 dwt, blt 2011 Jiangsu Longhai) was reported sold at USD 1.10 mill.

On the demolition front, the “Seaturbo” (32,230 dwt, blt 2000 Lindenau, LDT 9,080) was reported sold to Indian breakers at USD 426/LDT. The vessel is understood to be sanctioned tonnage.

Gas 

In the gas segment, BW LPG announced the sale of their VLGC “BW Elm” (blt 2007) for continued trading. The vessel was sold at a reported USD 64 mill, with delivery to buyers scheduled for mid-August, the sale generating a net book gain of abt USD 36 mill for sellers as per their press release. Notably, the vessel was acquired from Maersk Gas Carriers back in 2013 (en-bloc, as “Maersk Value”) at a price understood to be USD 60 mill, meaning she is being resold today, after thirteen years of trading, above her purchase price as a six-year-old ship. A striking illustration of the strength of vintage gas values.