Marinakis aims to cash in VLCC as rates fly

Greek owner puts tanker up for sale as red-hot spot market closes in on six-figure territory

19 December 2014 0:00 GMT Updated 19 December 2014 0:00 GMT

By Andy Pierce London

Evangelos Marinakis is looking to cash in one of his privately owned VLCCs at a time when the spot market is threatening to breach the $100,000-per-day barrier for the first time in six years.

Marinakis’s Capital Ship Management placed the 319,300-dwt Atlantas (built 2010) on the market on Wednesday, brokers say.

Sources suggest the potential deal comes at a time when the spike in spot rates has seen would-be VLCC sellers increase their price expectations by between 10% and 15%.

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