Mumbai-based Seven Islands Shipping has snapped up the 50,000 dwt MR tanker Seaways Mia (built 2008), recently renamed Mayfair. The acquisition marks the first MR move this year by the Indian outfit.
The deal is part of a series of sales by New York-listed International Seaways, which has now offloaded four MR tankers since the end of May.
Over the weekend, the company reportedly sold the 2008-built Seaways Titan, a sister ship to Seaways Mia, for $16.5m to undisclosed interests, the same price at which Seaways Mia was listed as sold.
At the end of May, International Seaways concluded an en bloc deal with Lila Global for two 2007-built MR tankers, also constructed at Hyundai Mipo, for a combined price of $28m.
The company’s latest divestments reflect a broader trend in the product tanker market, where demand for vintage tonnage has been strengthening. While older units are drawing renewed interest from buyers, modern MR prices are firming.
Danish owner Norden continues to capitalise on favourable market conditions, brokers report that this listed outfit is selling the seven-year-old, 50,000 dwt Nord Oceania—built at Onomichi Dockyard—for a reported $36.5m. This is Norden’s fifth MR tanker sale in succession, and brokers suggest that six sister ships remain on the sales slate, with improved pricing anticipated.