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International Seaways sells its VLCC pair to Thai Oil

International Seaways sells its VLCC pair to Thai Oil

Thai Oil, a subsidiary of Thailand's main energy company PTT, has been listed as the purchaser of two VLCCs from International Seaways.

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A week after the sale of the 2002-built Seaways Mulan and the 2003-built Seaways Rosalyn, Lorentzen & Stemoco and Banchero Costa have both identified the buyer as Thai Oil.

In line with VesselsValue's valuations on the vessels at $23.7 m and $25.3 m, the two vessels were sold for $23.5 m and $25 m respectively.

VesselsValue data demonstrates that one VLCC and four small tankers are currently operated by Thai Oil.

With almost half a century of continued development, Thaioil, which is the largest refinery in Thailand and can produce a variety of products including petroleum, petrochemical products, and lube base oil, has gone from a small 35,000 bpd refinery to a 275,000 bpd single-site refinery.

Maritime Business World 

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