Ridgebury quits the VLCC trades

Ridgebury quits the VLCC trades

Bob Burke-led Ridgebury Tankers has exited the VLCC trades with multiple broking houses reporting the sale of the company’s last two vintage supertankers.

Ridgebury has sold two 2000-built VLCCs – Ridgebury Progress and Ridgebury Purpose -for $24m each. VesselsValue values each vessel at $25m. The tankers are believed to have been acquired by a Chinese refiner for storage purposes.

Meanwhile, Ridgebury has just recirculated a pair of suezmaxes for sale after a deal for the 2001-built Ridgebury Alina L and the 2002-built Ridgebury Astari fell through last month. Brokers reckon the suezmax pair are worth around $17m to $18m each. VesselsValues’ valuation on the Ridgebury Alina L and the Ridgebury Astari is $16.8m and $17.8m respectively.

Earlier this year, Ridgebury also sold another 2000-built VLCC Ridgebury Pride for $25m.

After this VLCC exit, the Ridgebury fleet is made up of nine suezmaxes, six MRs and two handysize tankers.

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