Ghassan Ghandour’s Hermes Marine Management said it will seek compensation from Phoenix Tankers for cancelling a planned VLCC transaction between the two companies last month.
As TradeWinds reported at the time, Phoenix went back on a deal to sell the 302,000-dwt VLCC Phoenix Vanguard (built 2007).
An executive of Singapore-based Phoenix declined to comment on the matter at the time, but a market source told TradeWinds that the sale fell through because the buyer handed over only a 10% down payment of $3.87m.
