Greece’s Eastern Mediterranean Maritime (Eastmed) has pulled off yet another lucrative VLCC sale.
Just a few days after the company confirmed selling the 298,700-dwt Lucky Trader (built 2000) for $30m, an older, but similarly profitable deal comes to the fore: Eastmed’s 300,000-dwt Grand Lady (built 2002) changed hands for about $34m.
This is a remarkably high price, especially considering the sale agreement is believed to have been concluded in February, well before plummeting oil prices and floating storage plays sent the secondhand market for VLCCs soaring.
