Polys’ party trick

Polys Haji-Ioannou has continued his scrapping spree with the disposal of a single-hulled VLCC.

Polys Haji-Ioannou.

Polyar Tankers’ 276,000-dwt Lysaker (built 1989) is the second VLCC to be sent to the breakers’ beaches this year, US Cash buyer GMS says.

In its weekly report GMS puts a price of $400 per ldt on the sale to a Bangladeshi yard, meaning a $14.08m return for Haji-Ioannou.

Last month Fred Cheng-controlled Shinyo International sold the 250,000-dwt Shinyo Jubilee to Indian breakers.

Haji-Ioannou has been leading the way in the phase-out of single-hull tankers, disposing of 12 others in a little less than a year.

Last week TradeWinds reported he had sold the 96,000-dwt Magnitude and Valiant (both built 1992) to a Chinese buyer for conversion.

It is understood the Greek owner now has only one single-hull tanker remaining in his hands. The 248,000-dwt Lania (built 1990) is serving a contract in Egypt.

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