A 20-year-old VLCC has changed hands for just over $60m, underlining the continued strength in vintage tanker values. The Japanese-controlled, India-flagged Kasagisan (302,478 dwt, built 2006 at Mitsui) has reportedly been sold for $60.5m; no taker has been identified, but brokers point outside Korea. The deal could signal a market shift, breaking Sinokor Merchant Marine’s recent dominance in the segment. Market watchers are now keen to identify the buyer, as current asking prices have been considered too steep for most participants. Activity in the VLCC S&P market has been relatively muted in recent months, largely due to Sinokor’s aggressive buying spree, which has effectively vacuumed up available tonnage while setting price levels few competitors have been willing to challenge. However, tracking vessels in this age bracket shows a clear upward trend in values. Last month, Sinokor acquired the larger Seasilk, a scrubber-fitted 318,000 dwt unit built in 2006 at Hyundai, for $57.2m. For comparison, in early February, DHT Holdings agreed to sell its then-oldest vessel, the scrubber-fitted DHT Bauhinia (301,000 dwt, built 2007), for $51.5m, with delivery in June. As recently as December, similar vintage VLCCs were changing hands at around $45m, highlighting the rapid appreciation in secondhand tanker prices. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsSouth Korea