Indonesian owners cash in on investments in the tanker sector – Splash247

This quarter has been a busy period for Indonesia’s largest tanker owners, seeking sizeable profits from tankers purchased years ago. 

The latest sale coming out of Indonesia is a ship sold by Buana Lintas Lautan (BULL), with brokers telling Splash that BULL has offloaded a 20-year-old aframax, selling the 115,000 dwt Salamander for $27m, almost doubling its money on the ship, as it was added in 2019 for $14.30m. 

The is the second sale by BULL this year. Earlier it sold a 1991-built VLGC. 

Last week, Splash reported that Patria Nusasegara recorded a tidy profit from the sale of the 18-year-old, Japanese-built PNS Serena, securing $42m for a VLCC it picked up four years ago for $31m. 

At the end of July Patria Nusasegara fetched $60m for the 2008-built VLGC , named Victoria Lyra, another successful asset play as it was bought three years prior for $12m less. 

Sochi Lines also offloaded a VLGC in July, selling a 1999-built ship named SC Commander LVII for $43m. This tanker was added for $23.5m in 2018.