Antares cools sales talk

Greek owner Antares Shipmanagement has dismissed market reports it has shed its largest ship.

Brokers say the 24,100-dwt Aqua Runner (built 1997) has been sold to a Chinese owner for further trading for $2.9m but Antares’s managing director Michael Tartsinis tells TradeWinds no such deal has been agreed.

The reported price for Aqua Runner would be in line with market expectations. According to VesselsValue.com, it is some $500,000 above the scrap value of the Shanghai-built ship, which Antares bought as African Oryx for $4m in 2013.

A sale would have left Antares with just one bulker, the 18,300-dwt Moondy Bay (built 1997), bought as Bulk Sunset for $4.5m in 2013. The company had begun disposing of its older and larger units by then, with the 150,100-dwt Reunion (built 1991) sold for scrap in October 2012 for $6.8m and 65,000-dwt bulker Reload+ (built 1984) going for demolition the following year.

Both of those ships had previously been in the fleet of London- listed Global Oceanic Carriers (GO Carriers), where Tartsinis was chief executive. Three years ago, Antares formed a joint venture with compatriot, low-key owner NG Livanos to operate half of dozen small chemical tankers. Antares is currently listed as managing four product/chemical tankers built between 2008 and 2010.

source:www.tradewindsnews.com