Indonesian Tanker Giant Soechi Lines Scores Massive Profit on VLCC Sale
Indonesian owner Soechi Lines has sold one of its two remaining VLCCs (Very Large Crude Carriers) for a substantial profit, capitalizing on the recent surge in tanker prices.
The vessel in question is the 298,600-dwt Success Fortune XL (built 2003), which was acquired by Soechi in 2013 for $36 million. Brokers report the sale at an undisclosed price, but given current market conditions, the profit is expected to be significant.
The tanker has been renamed Grit and is now registered under Yearn Marine in the Marshall Islands. This sale leaves Soechi with just one VLCC in its fleet.
The transaction highlights the strong demand for even older large tankers, driven by geopolitical factors and increased oil transportation needs. Soechi's timing appears impeccable, as VLCC prices have climbed sharply in recent months.
Photo: Soechi Lines
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