Michael Ioannides is looking to make a shipowning comeback after suffering in the wake of the global financial crisis.
Ioannides, who saw the 15-ship fleet of his Ocean Tankers auctioned off after the crash, is making his move with the purchase of two VLCCs from struggling Gulf Navigation, it is believed.
Dubai-based SKG Petroleum Alliance — where Ioannides is chief executive — is ready to pay $95m for the 299,000-dwt Gulf Sheba (built 2007) and Gulf Eyadah (built 2006), multiple shipbroking sources say.
While
