Sinokor tied to secondhand Suezmax deals at eye-catching prices

If market chatter is accurate, current Suezmax values could jump more than 10% in less than a month, approaching – or even matching – newbuilding prices in China.

Shipbrokers reported this week that Sinokor has been linked to the acquisition of two Greek-owned Suezmax tankers, built in 2016 and 2017, at around US$82M each. Some sources identified these vessels as Arcadia Shipmanagement’s Aegean Marathon and Aegean Vision. The Greek owner, recently tied to a Suezmax order in South Korea, has been approached for comment.

In any case, these levels are remarkable.

Xclusiv Shipbrokers research analyst Dimitris Roumeliotis told Riviera that back in January, a Greek owner purchased two 2026-built South Korean Suezmaxes for around US$99-100M each, implying that 10-year-old assets would have been valued at approximately US$65-68M.

Mr Roumeliotis added that in late February, a 2013-built Suezmax constructed in Korea reportedly fetched US$62-63M, implying a 10-year-old valuation of US$72-74M.

The newly reported prices of US$82M suggest that 10-year-old Suezmaxes could have risen by over 20% in the past two months, and by more than 10% in the last month alone.

Remarkably, this also implies that 10-year-old Suezmaxes could now sell at levels comparable to newbuildings. Recent Chinese deals indicate pricing around US$82-84M, while a South Korean yard would offer an average of approximately US$88M as of March 2026, with some orders reaching US$89M.

Vintage tonnage has also reportedly attracted premiums. Shipbrokers reported that a 2006-built, Greek-owned Suezmax sold for US$44M this week. The same vessel had been slated for a US$33M sale in March 2025, which ultimately fell through.

Sinokor has made headlines with its aggressive VLCC expansion, snapping up nearly every available asset on the market. Riviera first reported last week that the Greek and Cypriot Competition Commissions confirmed the tie-up with MSC.