Mercuria Energy Expands Dry Bulk Fleet, VLCC Values Surge as Teekay Exits

## Mercuria Energy Adds Capesize Vessel to Growing Dry Bulk Fleet Geneva-based trading firm Mercuria Energy has emerged as a notable European buyer in the capesize segment, bucking the trend of Chinese players dominating the market. According to brokers, Mercuria has added a capesize vessel to its fleet, continuing its expansion in the dry bulk space. 'Chinese buyers have been hoovering up capes at roughly one ship per week this year — mostly vintage tonnage around 18 years of age — while European buyers have been largely absent from global broking reports,' [Splash247 reports](https://splash247.com/active-mercuria-energy-adds-a-cape/). Mercuria's latest acquisition stands out as a rare exception to this trend. ## VLCC Values Surge as Teekay Exits the Sector In another notable transaction, Teekay Tankers has sold its 2013-built, 318,700 DWT VLCC 'Singapore Spirit' for $84.5 million. Brokers have linked the buyer to South Korean owner Sinokor, continuing the trend of Asian players snapping up vintage VLCCs. The sale price represents a 57% increase in value for a 15-year-old VLCC compared to a year ago, [according to Splash247](https://splash247.com/15-year-old-vlcc-values-jump-57-year-on-year-as-sinokor-linked-to-teekay-exit/). This reflects the strong demand for tonnage in the VLCC sector, driven by factors like the Russia-Ukraine conflict and China's reopening. ## Opposition Grows to Hapag-Lloyd's Acquisition of ZIM Hapag-Lloyd's planned $4.2 billion takeover of Israeli container line ZIM is facing growing opposition, with union protests and debates in the Knesset, Israel's parliament. The deal would see Hapag-Lloyd carve out a 'New ZIM' entity, raising concerns about job losses and the future of the Israeli shipping company. 'Opposition to Hapag-Lloyd's planned takeover of Israeli line ZIM is growing, with union protests and the controversial sale debated at the Knesset, Israel's parliament yesterday,' [Splash247 reports](https://splash247.com/opposition-to-zims-sale-to-hapag-lloyd-grows/). ## Tidewater Expands in Brazil with 22 PSV Acquisition In other news, offshore support vessel owner Tidewater has agreed to acquire all outstanding shares of Wilson Sons Ultratug Participações and its affiliate Atlantic Offshore Services in a deal worth around $500 million. The transaction will add 22 platform supply vessels (PSVs) to Tidewater's fleet, significantly expanding its presence in the Brazilian market. 'Offshore support vessel owner Tidewater has entered into a definitive agreement to acquire all outstanding shares of Wilson Sons Ultratug Participações and its affiliate Atlantic Offshore Services in a deal worth around $500m,' [Splash247 reports](https://splash247.com/tidewater-to-add-22-psvs-in-major-brazil-expansion/). ## Tullow Oil Acquires Ghana FPSO from Modec In the energy sector, UK-based oil and gas company Tullow Oil has acquired the Prof. John Evans Atta Mills FPSO from Modec for $205 million. The FPSO is currently deployed on Tullow's TEN fields offshore Ghana, and the acquisition will provide Tullow with greater control over the asset's operations and maintenance. 'UK-based oil and gas company Tullow Oil has signed a sale and purchase agreement with TEN Ghana to acquire the Prof. John Evans Atta Mills FPSO for a gross consideration of $205 million,' [Splash247 reports](https://splash247.com/tullow-oil-buys-ghana-fpso-from-modec-for-205m/).