Sovcomflot puts tanker on the block amid phase-out of older suezmaxes

Russian tanker giant Sovcomflot (SCF Group) is putting another suezmax tanker on the market in an apparent effort to continue a phase-out of its older tankers in this size class.

European shipbrokers said the company’s Hyundai Heavy Industries-built, 159,000-dwt SCF Caucasus (built 2002) is up for sale.

The tanker is expected to fetch between $19m and $20m, although some sources claimed SCF Group has found a buyer for $19.5m.