India’s troubled ABG Shipyard is looking to offload its lone VLCC in an effort to remove its exposure to the large tanker market and reduce debts, it is claimed.
According to Mumbai-based brokers, the yard’s Singapore subsidiary, Varada One, which owns the 299,000-dwt Varada Blessing (built 1993), is negotiating to sell the vessel during the next few days.
The company bought the DSME-built vessel as Dubai Titan from Dubai-based Emarat Maritime for $36m in 2010.
It
