Lois Zabrocky’s International Seaways is once again trimming its fleet. The US-listed owner has resumed its fire sale of selling veteran units after a few months of limited activity.
The latest move sees the company part ways with a pair of ice-class 1A MR tankers, Seaways Gatun and Seaways Huron, both 48,000 dwt sisters built at Hyundai Mipo in 2007. The pair has been snapped up by European buyers for around $12.5m apiece, with one brokerage linking Norwegian outfit Champion Tankers to the deal.
With this transaction, International Seaways edges toward the milestone of 10 disposals since May and logs its seventh MR2 sale this year. The average age of the departed vessels now stands at roughly 17.5 years, indicating the owner’s continued willingness to harvest value from older assets while the window remains open.
