Financial Ports

CST slashes LR1 fleet to single tanker as secondhand market booms

CLAVE 1 / 4Chemikalien Seetransport now operates only one LR1 tanker after selling the 73,900 dwt London Star.

CLAVE 2 / 4The 20-year-old vessel, renamed Tenyou, was sold to Chinese interests.

CLAVE 3 / 4CST has offloaded 10 LR1s in the last two years as part of a fleet reduction strategy.

CLAVE 4 / 4Larine Tankers sold two 2016-built LR1s for $110m last week, signalling strong secondhand demand.

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