Dubai’s Teodor Shipping sells its only VLCC

Sales registers show that Dubai-based Teodor Shipping has sold its only VLCC shortly after buying it.  

The 17-year-old Vatika has already been delivered and renamed  Hansika. No price or taker is attached to the deal, but the vessel is most likely sold with a loss, as VesselsValue estimates the market value to be under $50m. 

The ship was added at the end of 2022, days before the European Union implemented a six-pack of sanctions, including a partial embargo on Russian oil. Then Splash reported that Teodor had laid down the winning bid, some $56m, for the 300,000 dwt Universal-built ship, previously called Syfnos. Greek tanker player Aeolos Management sold the scrubber-fitted tanker to Teodor. The ship is currently at anchorage in Singapore.