Piraeus-based Eurotankers has sold its 2009-built LR2 product tanker Eurointegrity for $60m, three times the roughly $20m the Greek owner paid for the vessel in 2018, S&P sources confirmed to Splash.

The Hyundai Heavy Industries-built ship of 105,291 dwt appears among the latest tanker sale listings, though the buyer remains undisclosed. Brokers note the vessel's next drydock falls in March 2027, an 18-month horizon that typically weighs on secondary prices yet appears to have been absorbed by the buyer.

The disposal continues a fleet repositioning at Eurotankers. Late last year the Michael Gotsis-led operator sold the 2009-built VLCC Eurovictory for about $61m and the 2004-built suezmax Euroleader for around $29.5m.

What is Eurotankers doing with the proceeds?

Earlier this year the same owner was linked to the sale of two handy bulkers and to the acquisition of the 2018 Japanese-built aframax Southern Reverence, now trading under Aldan. The pattern points to a rotation out of older crude tonnage and into a younger, fuel-efficient aframax.

The $60m exit on Eurointegrity delivers an 8-year, 3x return on cost. For shipowners watching the LR2 segment, the deal underlines that late-2000s hulls still clear at multiples well above scrap and 2018 acquisition levels, provided classification records remain clean.

How tight is the broader secondhand tanker market?

Brokers describe secondhand tanker values as elevated across the size curve. "Secondhand values remain elevated as a constrained orderbook and steady tonne-mile demand keep buyers in the market," Splash's tanker S&P sources said.

Greek owners, in particular, have shifted capital from older hulls into 2018-and-newer Japanese and South Korean tonnage, pressing against a constrained global orderbook that has yet to deliver replacement capacity at scale.

Regulatory uncertainty around future tonnage phase-out rules and persistent tonne-mile demand from long-haul crude routes have kept buyers active. Against that backdrop, Eurotankers' vintage disposal sits alongside parallel flips at other Greek operators trimming 2000s-built tonnage in favor of fuel-efficient units with scrubber or scrubber-ready configurations.

What are the commercial consequences?

For shipowners holding LR2s built 2005-2010, the reported price line sets a fresh reference for negotiating partial sales or fleet mergers. For charterers, the rotation reduces older-product tonnage availability but adds younger, more fuel-efficient capacity to the spot market.

For financiers, the 3x return on a vessel held eight years demonstrates how secondhand tanker valuations have outpaced drybulk and containership comparables over the same period. Shipbrokers are pointing peers to the Eurointegrity deal as the latest benchmark for late-2000s LR2 pricing.

S&P sources expect the March 2027 drydock date to factor into the new owner's operating economics. Any earlier resale decision would have to discount that scheduled yard stay against an LR2 asset class that brokers say remains firmly bid across Asian and European sale-and-purchase desks heading into the winter window.