Modec acquires Aeolos VLCC for FPSO conversion

Japan’s Modec has acquired a 2001-built VLCC from Greek owner Epaminondas Embiricos-controlled Aeolos Management for FPSO conversion.

Multiple shipbroking houses including Allied Shipbroking, Anchor Shipbroking and Seasure Shipbroking reported that the 306,000 dwt DSME-built vessel Astipalaia was sold to Modec, and according to VesselsValue, the price of the deal is $26.5m, slightly higher than its valuation of $25.29m.

In January, Modec secured one FPSO project from Equinor in Brazil and another FPSO contract from Woodside Energy offshore Senegal.

Modec currently operates a fleet of 18 FPSO tankers.

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