Lendoudis' Evalend revealed as buyer of 20-year-old VLCC sold during tanker market upswing

Shipping data platforms show that Apex Shipping and Energy, which operates within the Evalend Group, has acquired 2006-built, 300,866-dwt VLCC Kiku, formerly known as Kiho.

European shipbrokers reported in early March that the Japanese-built vessel initially attracted offers of around US$50M, but was ultimately sold for closer to US$55M following what market sources described as "fierce competition."

The deal was negotiated during a period of exceptionally strong VLCC spot earnings, triggered by escalating tensions in the Middle East, with buyers seeking to secure available tonnage in the secondhand market.

Shipbroking sources initially identified Sinokor-MSC as the likely buyer, given the group’s aggressive expansion in the VLCC segment. However, shipping data platforms now indicate that Apex Shipping and Energy is the vessel’s new owner.

Kriton Lendoudis is known for executing profitable asset plays while simultaneously expanding the fleet through both newbuilding and secondhand acquisitions. Earlier this year, the group was linked to the sale of a pair of 2021-built VLCCs for a combined price of around US$250M.

At the time, market sources suggested that Trafigura had acquired both vessels. However, shipping data platforms now indicate that Hunter, since renamed Angola Prosperity, was purchased by Sinokor, while sister vessel Serendipity was acquired by Trafigura and renamed Vincere.

According to Equasis, Evalend and Apex Shipping and Energy control a fleet of around 60 vessels across the dry bulk, tanker, and LPG carrier segments. The Greek owner is also pursuing an extensive newbuilding programme spanning these markets, as well as LNG carriers and LNG bunker vessels.

According to Allied Shipbroking, a total of 85 VLCCs, with an average age of 14 years, have changed hands so far in 2026, compared with 55 vessels during the whole of 2025. Prices for VLCCs aged between five and 15 years have increased by as much as 43% over the past 12 months.