Hanoi-based owner Viet My Petrol Transportation has exited the VLCC trades three years after entering the segment.

In recent years, Viet My Petrol Transportation, also known as Vietmy Trans, snapped up two VLCCs built in 2005 and owned by two Greek owners, Eastmed and Thenamaris. In 2023, two years after the company was set up, it paid $52.5m for a Samsung-built vessel, its second VLCC, the now 20-year-old T Cereal, a 308,800 dwt, scrubber-fitted rusty mammoth, a ship it has just sold $31m. Now, a second sale is in the pipeline with brokers, noting that its last VLCC is being sold, the Hyundai Heavy-built, 318,700 dwt, Gold Pearl, a ship it paid Thenamaris $51.5m in 2023. This ship is sold for just under $30m, a significant drop in price compared to similar sales.

The sales leave the outfit with two 1996-built LPGs, according to Equasis a shipping register.