Gener8 Maritime deal marks first VLCC price rise since January

Gener8 Maritime may be keen to play down an upturn in VLCC prices but analysts believe a double sale by the Peter Georgiopoulos-led company marks the first bounce in big tanker values in four months.

As TradeWinds was first to report, Gener8 has sold the 320,000-dwt Gener8 Noble and 300,000-dwt Gener8 Theseus (both built 2016) at $81m each.

Brokers told TradeWinds last week they were staggered by the price achieved and on an earnings call Georgiopoulos described the deal as “opportunistic”.