New Shipping of Greece has resumed its VLCC buying spree — opting again for a unit from the stable of Japanese giant Mitsui OSK Lines.
Far East and Athens-based sale-and-purchase sources identified the Adam Polemis-led company as the buyer of the 302,000-dwt Otowasan (built 2005).
New Shipping is said to have paid $26.2m for the Kawasaki-built crude carrier. That price reflects the value drop for such vessels since spring, when VLCCs were eagerly sought amid top freight rates and a frenzy of oil storage activity.
