Malaysia’s Bumi Armada is selling a 19 year old VLCC for scrap, demolition sources say.
The 310,000-dwt Armada Ulysses (built 1999) has been sold as is in Singapore for $403 per ldt or $16.4m.
The low price stems from the tanker being sold in a dirty condition with 1,600 tons of sludge that needs to be cleaned before it proceeds to India, it is reported.
