Fredriksen's Seatankers tied to Capesize sale following Golden Ocean-CMB.TECH deal

According to shipbroking sources, Sea Poseidon, a 2011-built Capesize vessel, has been sold to Chinese interests for US$25-26M. This valuation aligns with the broader market trend for 15-year-old Capesize bulkers and recent comparable transactions.

Seatankers originally acquired Sea Poseidon in 2015 for around US$28M, meaning the vessel was sold at a similar cost nearly a decade later.

Industry sources told Riviera Sea Poseidon was a priority in Seatankers’ divestment strategy, following an earlier attempt to offload another 2011-built Capesize, Blue Lhotse. Brokers reported in late 2024 that the latter had changed hands; however, it has yet to undergo a name change.

"With the sale of the Golden Ocean shareholding, it’s quite clear where John Fredriksen’s focus is shifting. It wouldn’t be surprising if more bulk carriers are sold," a shipbroking source commented. 

According to Equasis, Seatankers currently operates three additional Kamsarmax vessels, built between 2014 and 2015. Furthermore, the company is engaged in a newbuilding programme in China, which includes six Newcastlemax and four Kamsarmax bulk carriers.

Golden Ocean – CMB.TECH deal

On 4 March 2025, CMB.TECH announced it had signed a share purchase agreement with Hemen Holding Ltd, an entity linked to Mr Fredriksen, to acquire 81,363,730 shares in Golden Ocean at US$14.49 per share, totalling approximately US$1.18Bn. This transaction represents 40.8% of Golden Ocean’s outstanding shares.

Cavalier Shipping founder James Lightbourn told Riviera that while this is undoubtedly a strategic deal for CMB.TECH, the exit of one of the industry’s most successful shipowners could signal a potentially negative outlook for the dry bulk sector.