Metrostar Exits Crude Oil Shipping With Double Suezmax Tanker Sale
Metrostar Exits Crude Oil Shipping With Double Suezmax Tanker Sale
Greece-based shipowner Metrostar Management announced its complete exit from the crude oil shipping market with the sale of its final two Suezmax tankers. The company's decision is viewed as a result of ongoing fleet restructuring strategy pursued in recent years.
Under operations led by Theodore Angelopoulos, Metrostar sold the two vessels Crude Levante and Crude Zephyrus, both built in 2021, to Delta Tankers. Each tanker has a capacity of 156,800 DWT and was constructed at New Times Shipbuilding in China.
According to market sources, the sale price reached approximately 78 million dollars per vessel, totaling 156 million dollars. This figure is significantly above the 56–57 million dollar price range for similar Suezmax newbuilding orders placed in China during 2018–2019. According to experts, this indicates that strong price levels in the secondhand tanker market remain intact.
Both vessels are equipped with engines compliant with Tier III emission standards and have Ballast Water Treatment System (BWTS) installations. The vessels are scheduled to undergo special survey in mid-2026.
With this sale, Metrostar has disposed of its remaining crude oil assets and decided to focus exclusively on product tankers. The company's fleet currently includes LR1 and LR2 type product tankers. Over the past several years, Metrostar has been systematically selling vessels in the Aframax and Suezmax segments, capitalizing on strong secondhand values and gradually reducing its exposure in this space.
The company's strategic restructuring process is viewed as a precaution against uncertainties in the energy shipping segment, driven by rising operating costs, decarbonization pressures, and market volatility. According to analysts, Metrostar's exit from crude oil is an indicator of environmental and financial sustainability-focused transformation in the global tanker fleet.
Meanwhile, buyer Delta Tankers has further strengthened its robust Suezmax fleet of approximately 30 vessels through this transaction. Under the management of Diamantis Diamantidis, the company ranks among Europe's largest Suezmax operators. Delta's fleet also includes numerous VLCCs (Very Large Crude Carriers) and one Aframax tanker.
Recent price increases in the tanker market have continued due to trade route changes stemming from Russian sources, rising freight earnings, and limited newbuilding supply. These price fluctuations in the Suezmax segment have driven acceleration in secondhand tanker transactions among both investors and shipowners.
Following this sale, Metrostar will continue to concentrate on the product shipping market with a more agile and lower-carbon fleet. The company's focus centers on transportation of refinery products, clean fuels, and petrochemicals.
Experts characterize Metrostar's move as a "strategic refocus", while noting that Delta Tankers' aggressive fleet expansion policy signals the continuation of strong demand in the Suezmax segment.
Key Highlights:
Metrostar Management has completely exited crude oil shipping by selling its final two Suezmax tankers.
Vessels sold: Crude Levante and Crude Zephyrus, each 156,800 DWT.
Delta Tankers acquired the vessels for a total of 156 million dollars.
Sale price is approximately 35% higher than 2018–2019 newbuilding levels.
Vessels are equipped with Tier III and BWTS systems, with class survey scheduled for 2026.
Metrostar will now focus exclusively on LR1 and LR2 product tanker fleet.
Delta Tankers has expanded its fleet to approximately 30 Suezmax vessels, strengthening its segment leadership.
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News Link: https://splash247.com/metrostar-sails-out-of-crude-trade-with-double-suezmax-sale/
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Author: SedatOnat.com
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