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.
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