Singapore’s Sentek Marine & Trading has sold a storage VLCC for recycling two months after putting it on the secondhand sales market.
The demolition deal comes as data firm IHS Markit forecasts the need for floating storage will diminish in future months.
Sentek’s 308,500-dwt Merlion M (built 1999) is said by brokers to have been sold for $427 per ldt, or $18.5m,
