Hong Kong company takes over running of Dubai tanker fleet

At the beginning of October, shipping and steel magnate Theodore Angelopoulos sold two five-year-old aframaxes for an eye-catching $70m each, the 116,000 dwt Daehan Shipbuilding-built tankers, Crudemed for and Crudesun. 

The ships, now on charter to Unipec, have been renamed Venture and Valour, having resurfaced with Prominent Shipmanagement, an outfit set up in 2022 in Hong Kong, which has all its ships classed with the Indian Register of Shipping. This company has quietly taken over the entire fleet of Dubai-based outfit K&O Shipmanagement, also known as Kurow Shipping, a company pricing portal VesselsValue roughly estimates is worth about $1bn when including its four aframaxes on order at Zhoushan Changhong International.  

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