Product tanker sales activity rebounds as market plays catch-up

Secondhand sales activity for product tankers is ramping up as owners seek to catch up with fleet renewals delayed by the pandemic and get ahead of a further fall in the market.

In recent days, seven MR and LR product tankers were being touted for sale by brokers.

Among others, these vessels include Ardmore Shipping's 45,700-dwt Ardmore Seamariner (built 2006), Nisshin Shipping's 48,000-dwt FS Sincerity and Norden's 51,000-dwt Nord Pearl (both built 2009).