Aframax asset play pays off for Union Maritime

Laurent Cadji-led Union Maritime is widely reported to have earned $36m on an asset play while also spending $65.5m on two LR2 newbuildings at Jiangsu Hantong with delivery dates in 2025. 

The UK-based bulk and tanker player is noted cashing in on two 14-year-old 116,000 dwt aframaxes. The Hanjin-built sisters Fulmar and Anavatos II were picked up at the of 2019 for $21m each. They have now been sold for a very solid $39m each to undisclosed interests, according to multiple broking reports. 

The private owner has made plenty of headlines and earnings in the last couple of years after selling some 40 older tankers since 2020.

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