Gener8 Maritime Sells One of Its Oldest VLCCs

  • Business & Finance

Crude oil shipping company Gener8 Maritime has sold its 2001-built Very Large Crude Carrier (VLCC) to the Taiwanese firm Winson Shipping, according to data provided by VesselsValue.

The vessel in question is the 312,700 dwt GenMar Vision, which was built by South Korea’s shipbuilder Hyundai Heavy Industries.

VesselsValue said that the tanker was sold for a price of USD 28 million on July 20, slightly over the ship’s predicted market value of USD 27.3 million.

When the sale is finalized, Gener8 Maritime will operate a fleet of 34 vessels, including Suezmax and Aframax tankers, VLCCs, and LR1 tankers, the majority of which are deployed in the Suez8 and VL8 Pools.

At the end of June, Gener8 Maritime expanded its fleet with Gener8 Constantine, the eleventh of 21 ECO VLCCs set to join the company’s fleet.

Built by South Korean Hyundai Samho Heavy Industries, the 299,019 dwt Gener8 Constantine entered Navig8 Group’s VL8 Pool upon delivery.

The shipping company has ten more 320,000 dwt and 300,000 dwt VLCCs on order, eight of which are scheduled for delivery during 2016, while the remaining two are expected to join the fleet in 2017.

World Maritime News Staff

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