Gulf Energy Maritime linked to string of LR1 tanker sales

Gulf Energy Maritime (GEM) has been linked to four sales of LR1 tankers, which would cut its exposure to the segment by half.

Less than a year ago, the Dubai-based company sold the last of its larger LR2 vessels.

Several brokers in the US, London and Greece reported GEM has sold the 75,000-dwt sisterships Gulf Cobalt, Gulf Crystal and Gulf Castle (all built 2009) for about $17.8m