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Eureka! Spot market price boom fuels tanker sale frenzy.
(From Lloyds List)
Byline: Buyers are scrambling to get a piece of the pie in the lucrative transport market, writes David Osler
CURRENT developments in the spot market have created a 'gold rush mentality' in the tanker sales and purchase market, according to the weekly report from one London broker.
Even though single-hull vessels are more than fixable as things stand, owners are taking advantage of huge secondhand price tags to offload older units.
Buyers who shell out such sums are presumably confident that the ships will be allowed to trade until at least 2015. Let's hope the European Union obliges.
Meanwhile, double hulled candidates remain few and far between.
The only such ship thought to be available right now Bourgogne(296,230 dwt, built 1996) appears to have been committed at $90m, comfortably above the $80m brokers were predicting in this column two weeks ago.
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