UK's Union Maritime to buy another MR tanker

UK-based tanker and bulker owner Union Maritime's expansion continues, especially for medium-range (MR) tankers where it is acquiring its seventh vessel this year. 

The company confirms it is buying the STX-built 51,000-dwt Pretty World (built 2007) from Parakou Tankers. Sources say Union Maritime is paying just $16.2m for the tanker which is due for special survey in November. Vessels Value estimates the Pretty World is worth $17.3m.

Last week, the owner tied up the SPP-built, 50,000-dwt tanker Kirstin (built 2009) from Empire Navigation of Greece for $19.3m. In February, Union Maritime bought two 2004-built MR tankers from the Restis Group of Greece for $25m in total.

Also last month, the Laurent Cadji-led company purchased the Hyundai Mipo-built, 46,000-dwt Iver Example and Iver Express (both built 2007) from Vroon Shipping for $15.5m to $16.5m each. The ships are due for special survey. 

Union Maritime is primarily focusing on MR tankers and is now listed with 30 tankers. It also has three bulkers. In April it bought the Tsuneishi-built, 52,000-dwt bulker Topflight (built 2005) for $8m.

Parakou Tankers is listed with a homogenous fleet of eight MR tankers built in 2006 or 2007. In August last year, the company sold the then one year younger sisterships St Johannis and St Marien (both built 2007) for $17.3m to $17.8m each to Hyundai Glovis of Korea.