Saudi Arabia’s Bahri has purchased two 321,200-dwt Very Large Crude Tankers (VLCCs) from Daewoo Shipbuilding & Marine for $78 million each after the vessels failed to sell over the summer.

Bahri buys two very large crude tankers

Blue Topaz and Blue Pearl (both built 2010) were officially offered for sale on Tuesday, with the sale reported by brokers on Thursday. Prior to the sale, both vessels were managed by Korea Line, according to shipping registers.

Daewoo had looked to sell the vessels privately over the summer to a specific buyer, but the unnamed counterparty was unable to meet the asking price, brokers say. The owner offered inspection opportunities to all other interested parties in September.

The acquisition will bring Bahri’s VLCC fleet up to 34 vessels, plus 10 newbuildings under construction at Hyundai Samho in South Korea.