A firming market for secondhand tankers in the clean product trade has helped spur Connecticut’s Ridgebury Tankers and Peter Georgiopoulos-led United Overseas Group (UOG) to discard 14-year-old tankers.
For Bob Burke-led Ridgebury, it is a matter of starting 2023 the same way it went through 2022 — by selling tankers.
Ridgebury’s first sale of the 50,200-dwt Katherine Z (built 2009), the first offloaded by the company this year, follows the disposals of 17 tankers within 2022 in what Burke has said amounted to unwinding investments by multiple clients.
