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Why is Gatik Ship Management expanding its tanker fleet?

Fleet register Equasis shows that Gatik Ship Management’s fleet of older tankers has ballooned to 25 ships in a year.
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Fleet register Equasis shows that the shy Indian player added nine tankers in December alone, cementing its spot as one of last year’s most dedicated tanker newcomers.

One of the latest deals under its name includes a scrubber-fitted suezmax, the 2004-built, 150,000 dwt Crescent Moon, a tanker noted sold for by a string of brokers for around $33m. This ship is now renamed Heracles, while Gatik is also tied to an aframax that is still to be renamed, the 2006-built Antaios.

Sales registers show that Gatik has added ships from major European tanker players such as United Maritime, Atlas Maritime, Capital Ship Management, Zodiac Maritime, Brave Maritime, Thenamaris, and Euronav. VesselsValue notes that Gatik’s fleet now is worth some $760m, counting 15 aframaxes, three suezmaxes, six handysize tankers and a post-panamax tanker, with an average age of 17 years.

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