The tandem of Ceres Shipping and JP Morgan has declared options for four medium-range (MR) products tankers at South Korea’s SPP Plant & Shipbuilding, sources tell TradeWinds
The decision appears to be yet another vote in favour of fuel-efficient newbuildings and in the notion that a pricing bottom for products tonnage may be near or here, market sources note.
TradeWinds initially reported in May that the combination of Peter Livanos-led Ceres and JP Morgan, headed by shipping specialist Andrian Dacy, had taken the plunge for four firm units at SPP with four options.
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