Japan’s JX Ocean has obtained a lower-than-expected price for a 19-year-old VLGC, demonstrating how the low freight market is increasingly putting pressure on elderly gas carriers.
The 76,000-cbm Yuhsho (built 1999) was reportedly sold to a South Korean buyer for $15.5m, brokers in the US and Europe said. Some claimed the price is higher.
The ship has an estimated value of between $21.4m
