July 18, 2020

Sea World Management eyes more tankers

Following the purchase of the  Cielo di Salerno from d’Amico Tankers, the Monaco-based Sea World Management (SWM) has reached the threshold of eight handysize tankers in its fleet, and the company is in the market for more.

Roberto Corvetta, head of SWM, told Splash: “I’m very pleased for this purchase from d’Amico Group also because attached to the sale of the vessel there is a three years charter back at an interesting daily rate for both the counterparts with also a profit share clause.”

Corvetta added: “Thanks to this last new entry, SWM can carry on its longterm strategy in the liquid bulk business based on purchasing second hand ships well maintained to be chartered out to oil majors and trading companies up until 16 years age. After that we canswitch the markets where the vessels are deployed from oil products transport to edible oil shipping.”

As of today, SWM operates eight handysize tankers ranging from 36,000 to 40,000 dwt, IMO III, shallow draft, all built in South Korea from 2001 to 2006. “We are interested and ready to take any new opportunity on the market in 2016 since our sentiment for the liquid bulk segment in the near future is positive,” concluded Corvetta.