Economou Linked to Buy Number 10

George Economou is rumoured to have continued a productive week with the addition of a 10th vessel in quick succession.

News ID: 72427

Date: 18 February 2017 - 15:39

According to MANA, as TradeWinds reported in this week’s print edition, Economou companies are being tied to the acquisition of fleets of newcastlemax bulkers and LR tankers at the same time as adding a modern VLCC.

Now, the Greek tycoon is also being touted at the buyer of an aframax resale, which if confirmed would take his reported transactions this week to almost $310m.

Brokers point to the Dong-A controlled aframax hull 812 at Hyundai Samho Heavy Industries as the latest vessel on Economou’s shopping list at $41.73m.

At the same time, his TMS Tankers is in line to buy four LR2s from India Steamship in a potential transaction priced at around $90m.

A further $57m is reported to have been spent on the 319,000-dwt Orthis (built 2011) in a deal brokers say marks a strong data-point for VLCC values at a time few modern vessels are available in the market.