Magni Partners hammers out deal for up to six new VLCCs - Splash247 - Splash 247
Magni Partners hammers out deal for up to six new VLCCs - Splash247
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Magni Partners hammers out deal for up to six new VLCCs
London-based Magni Partners has made a deal to order up to six VLCCs from New Times Shipbuilding in China for $138m per vessel.
The order comes soon after one of the most famous names in Norwegian maritime Tor Olav Trøim said that Magni Partners, his private investment vehicle, would order VLCCs.
During a speech at Marine Money’s New York conference in June, Trøim told delegates that he felt that it was the right time to get back into the tanker business after a 15-year absence.
He also told the attendees that he would be getting his feet “a little wet” with just two VLCC orders due to the incredibly low global orderbook.
The details of this little “dip” into VLCC waters were revealed by Allied Shipbroking in its weekly Shipping Market Report.
Namely, Magni Partners ordered two firm VLCCs from New Times Shipbuilding. The contract includes two options for two vessels each. If all options are exercised Magni Partners would order six newbuild vessels.
The 320,000 dwt vessels were ordered this month and would be delivered from China in 2026 and 2027. The newbuilds will be LNG dual-fuelled.
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
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