Reputable market sources claim the 306,500-dwt Shinyo Spendor (built 1993) commanded a premium of roughly $485 per ldt, which amounts to a payday of nearly $20m.
While the final destination of the vessel isn’t clear the rate and timing of the transaction lead some to believe it will be recycled in Pakistan or Bangladesh.
According to GMS, which bills itself as the world’s largest cash buyer, smaller tankers torched in these regions have been fetching prices of around $470 to $475 per ldt.
Observers
