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South Korea’s Sinokor Service provider Marine is staying lively within the secondhand market with one other play within the VLCC sector.
The South Korean shipowner has been named as the client of three ships that Belgian tanker large Euronav introduced as bought final week.
Brokers are reporting a deal for an en bloc buy of the 2008-built 307,284 dwt Nectar, the 2009-built 307,208 dwt Newton, and the 2008-built 307,284 dwt Noble for round $155m.
Sinokor has been hoovering up VLCC tonnage with eight ships purchased this yr whereas making the most of the surge in secondhand bulker costs to money in on trendy newcastlemaxes.
Earlier this yr, the Seoul-headquartered firm picked up 5 VLCCs inbuilt 2009 and 2010 from John Fredriksen’s Frontline for $290m and most lately offloaded three newcastlemaxes to compatriot Pan Ocean at $71m every, after paying $51m per newbuild in 2018.
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