Buyers behind recent LR2 sales are starting to surface.
New York-listed Teekay Tankers agreed last month to sell the 2007-built Galway Spirit to an undisclosed party for an undisclosed price, with delivery set for the first quarter of 2025. The 105,000 dwt vessel, built by Hyundai Heavy, is now renamed Anemoni and joins the fleet of Greek player IMS. VesselsValue has noted that the price was $26.3m. This marks IMS’s third acquisition this year and its second LR2, bringing its total number of tankers to 27.
Another seller is Turkey’s Onn Shipping, which operates a fleet of seven tankers. This outfit offloaded the 2008-built Evita, a 115,500 dwt unit constructed by South Korea’s STX, to Chinese interests.
Another recent LR2 transaction involves MJL Bangladesh, a lubricant and LPG trader, which sold the 2005-built Omera Legacy, also to Chinese interests. The ship is now renamed Long Xiang. A price tag of $25m has been attached to this deal.
LR2 tankers strike a balance between size and flexibility, making them well-suited for long-haul exports in a market with rising demand for refined fuels, especially in Asia and Africa.
