Greek owners list Aframax tankers for sale amid rising Chinese interest

Xclusiv Shipbrokers research analyst Eirini Diamantara told Riviera 61 Aframax/LR2 tankers were sold in 2024, with 14 of these transactions involving Greek shipping companies.

So far in 2025, of the 20 tankers involved in sale and purchase (S&P) deals, eight or 40% fall within the Aframax/LR2 category. Greek shipowners have accounted for six of these sales, divesting nearly half the number of Aframax/LR2 tankers they sold in all of last year.

Latest deals

Recent shipbroking reports highlight the growing interest in Greek-owned Aframax/LR2 tankers.

In one of the reported deals, Pantheon Tankers, led by Anna Angelicoussis, is said to have sold its oldest vessel Sea Falcon. Built in 2007, the tanker has reportedly fetched US$30.5M. Riviera understands Pantheon Tankers has listed Sea Falcon for sale, but the deal has yet to be finalised. Regardless, the reported price is attractive for a vessel of this age. Notably, the prominent Greek shipowner had originally acquired Sea Falcon for approximately US$34.0M in 2014.

Another transaction involves Spring Marine Management, which has reportedly sold 2007-built Sousta for around US$31.0M. If confirmed, this sale marks a significant asset-play for the company. According to Equasis, Spring Marine acquired the vessel in 2022 for just US$16.6M. The company has not yet commented on the reported deal.

IMS SA, a Greek shipping company known for its active S&P strategy, is also reported to have sold 2008-built Nemo at an undisclosed price. The company had purchased the vessel for approximately US$16.0M in 2021. Given current valuations in the tanker market, this reported sale likely resulted in a substantial profit.

Across these and other transactions, Chinese buyers have consistently emerged as top bidders, often offering the highest prices for Greek-owned Aframax/LR2 vessels.