Brokers say the 31,300-dwt medium-range (MR) tanker Gandari (built 1999) has a market value of around $7.3m, although it is likely the bank will be looking for a higher figure given widespread belief in the market that values for handysize products tankers have bottomed out and are soon to start climbing again.
“What both the bank and BLT do not want to have happen is for the ship to be sold at auction,” said one well-placed insider, who points out that such a method of sale usually results in a substantial discount on a ship’s market value.
The
