Adjusting the course! Major ship owners are intensively deploying in the oil tanker market

Dubai shipowner Lila Global is continuously advancing its fleet diversification strategy, recently making intensive investments in the tanker market, showing a clear intention to expand from its primarily dry bulk focus to the tanker sector.

It is understood that Lila Global recently acquired the 19,000-dwt stainless steel chemical tanker "Strinda", built in 2006, from Norwegian shipowner Ludwig Mowinckels Rederi for US\$15.9 million. The vessel has been renamed "Lila Evia" and is the third vessel of this type that Lila Global has purchased in the J19 chemical tanker market, further strengthening its position in the small clean tanker and chemical tanker markets.

Lila Global has been very active in the tanker sector. Last October, the company sold another sister vessel, the "Lila Frontier", built in 2004, for approximately US\$16 million, reportedly realizing a profit of approximately US\$4 million. Last week, market rumors indicated that Lila Global acquired two modern Hyundai Mipo MR product tankers built in 2007 for US\$28 million, further expanding its medium-sized tanker fleet.

For a long time, Lila Global has focused on dry bulk shipping, and its fleet once comprised as many as 29 dry bulk vessels. Earlier this year, the company also purchased two Capesize vessels built in 2006—the "Maran Sailor" and "Maran Odyssey"—at a price of US\$19 million each.

However, in the face of the strong performance of the current tanker charter market, particularly the steady rise in asset prices for modern and specialized tankers, Lila Global is adjusting its investment focus, directing more capital towards the more liquid "wet cargo" market.

According to the latest data from VesselsValue, Lila Global's current fleet size has reached 36 vessels, with a total estimated value of approximately US\$540 million, demonstrating the company's rapid expansion and strategic transformation in asset allocation.

Lila Global is an affiliated shipowning company of GMS, the world's largest cash buyer of vessels. Compared to GMS's deep cultivation of the vessel recycling and dismantling sector, Lila Global is committed to establishing a flexible, opportunity-oriented operating model in the active shipowning market, particularly rapidly rising in niche and specialized vessel markets, becoming a noteworthy emerging force.

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