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GREENPEACE-TARGETED VLCC SOLD FOR SCRAP

By Lucy Hine, London

BANGLADESH, 30 January 2002 -- Two VLCCs have been sold for scrap, one of which is on environmental activist group Greenpeace's hit list of 50 ships it wants to see decontaminated before they head for demolition.

Specialist shipbrokers say Euronav's 255,545-dwt Flandre (built 1977) has been sold to Bangladeshi buyers for around $138.00 per ldt. Flandre is listed on Greenpeace's website under its shipbreaking page where it details 50 ships that it believes will be scrapped soon. Detailing its campaign, entitled "Operation final voyage" Greenpeace says: "We have asked the owners of these ships to declare that their ships will be decontaminated before scrapping at Asian countries."

The activist group has attracted criticism from the shipping industry for urging people to report in on the vessels on their list.

Greenpeace's spokesperson for the campaign was not immediately available for comment. Another long-running VLCC demolition candidate was also sold this week. The 232,600-dwt Fay (built 1975), which was reported sold or under negotiation several times during 2001, is reported sold to India, in an 'asis' condition Fujairah, for $132.50 per ldt. Brokers also say the Hadjipateras-controlled ULCC Wyoming (built 1975) has been put on the market for sale.

The 356,300-dwt vessel has been used as floating storage off Thailand since the early 1990s.

A flood of large tanker tonnage is forecast to emerge in the next few months, as this year's bumper crop of VLCC deliveries start to kick in and owners weary of battling against a weak market.

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