Hanjin Shipping tipped to exit VLCC sector

South Korean owner understood to be in process of selling its only large tanker.

Hanjin Shipping is seeking to offload its sole VLCC in what would be only the second sale and purchase deal in the sector this year.

Brokers say the 318,000-dwt Hanjin Ras Tanura (built 2011) is being circulated with up to five parties inspecting the ship.

VesselsValue.com has a price of just over $78m on the tanker, but brokers suggest a lower figure is more likely today.

Hanjin has five smaller tankers in a fleet alongside a larger stable to bulkers and boxships.

Only one other VLCC has been traded this year, Euronav’s $38m sale of the 298,400-dwt Famenne (built 2001).