Sanmar Group enters VLCC market

By Admin

18 Jul, 2025

A Bold Step Forward

Chennai-based Sanmar Group has made a significant leap into the Very Large Crude Carrier (VLCC) segment by acquiring the 321,000 DWT Maran Canopus, a move that marks a pivotal point in the company’s growth journey. The vessel, previously owned by Greece’s Angelicoussis Shipping Group, was acquired in a deal valued by brokers at $48–$50 million. Now renamed Sanmar Herald, this acquisition signals Sanmar’s ambitions to elevate its presence in the global shipping landscape.

From Commitment to Action

This move is in line with Sanmar’s fleet expansion strategy, a vision the company committed to a few years ago when it set out to grow its fleet to 20 vessels. At that time, Sanmar operated 10 ships a number that has now risen to 16, comprising LR and MR tankers and two liquefied ethylene gas (LEG) carriers. The group has also strengthened its global footprint by establishing a Singapore base to enhance its foreign-flag operations and expand international reach.

Why Sanmar Herald Stands Out

The acquisition of Sanmar Herald comes during a week that saw another comparable transaction: Korea Asset Management Corp sold the 307,000 DWT Atlantic Loyalty, a 2007-built Chinese VLCC, for approximately $44 million. The higher price tag for Sanmar Herald about $4 million more is attributed to two key factors:

• Superior Korean Build: Built at Daewoo Shipbuilding in South Korea, Sanmar Herald boasts a construction quality preferred by many shipowners over Chinese-built vessels.
  
  

• Dry Dock Timing Advantage: Unlike Atlantic Loyalty, which is due for dry docking in October, Sanmar Herald does not require immediate maintenance, making it more operationally attractive.
  
  

Looking Ahead

The Sanmar Group's entry into the VLCC segment underscores its long-term vision of becoming a diversified and globally competitive player in the maritime industry. By acquiring a high-quality asset and continuing to expand its fleet and operations, Sanmar is positioning itself to meet growing market demands and strengthen its foothold in international waters.