A London Greek player has bagged a 1995-built tanker for a bargain price of $25m.
The value of 10 to 15-year-old VLCCs could plunge further as more come up for sale in a freight market where rates are hardly covering operating costs.
This week, Oslo-listed Saga Tankers sold the 298,000-dwt Saga Chelsea (built 1995) to London-based Greek owner Embiricos for $25m (see story below).
