Theodore Angelopoulos-led Greek shipowner Metrostar Management has sold the last two Suezmax tankers in its fleet to Greek shipowner Delta Tankers, marking its complete exit from the crude oil transportation business.
Shipbroking news: Metrostar has sold two Suezmax tankers named “Crude Levante” and “Crude Zephyrus”, with each ship priced at approximately US$78 million, totaling approximately US$156 million.
Both vessels are equipped with Tier III emission control systems and have a deadweight tonnage of 156,800 tons each. They were constructed entirely by China’s New Times Shipbuilding.
Market participants noted that the transaction prices for the two Suezmax tankers significantly exceeded the newbuilding costs of similar vessels ordered from the Chinese shipbuilder during the same period in 2018-2019, which were approximately $56 million to $57 million. This reflects the sustained strength of the Suezmax tanker market.
In recent years, the company has steadily reduced its crude oil operations, having already sold multiple Aframax and Suezmax tankers during periods of elevated second-hand vessel prices. This transaction marks Metrostar’s complete exit from the crude oil transportation sector, with the company now focusing exclusively on its refined product tanker fleet (including LR1 and LR2 vessels).
For Delta Tankers, which has acquired two tankers, this purchase further expands its substantial fleet of Suezmax tankers. Delta Tankers currently operates approximately 30 tankers, the majority of which are Suezmax vessels, along with several VLCCs and one Aframax tanker.