<article><p class="lead">Trading firm Vitol's bitumen trading, storage and transportation unit Valt has sold two of its tankers to UAE-based firms that will operate them in the Mideast Gulf and Asia-Pacific.</p><p>The 6,725 deadweight tonne (dwt) bitumen tanker <i>Asphalt Spring - </i>renamed <i>Global King 1 -</i> has been sold to Dubai-based Prime Tankers LLC, and the 6,854 dwt <i>Asphalt Summer</i> has been sold to Sharjah-based bitumen trading and supply firm Richmond Group. The tankers were built in 2007.</p><p>Valt put the two tankers <a href="https://direct.argusmedia.com/newsandanalysis/article/1621077">up for sale</a> early last year, when <a href="https://direct.argusmedia.com/newsandanalysis/article/1606563">it added</a> the 36,950 dwt <i>Asphalt Synergy</i> to its global bitumen tanker fleet. During the last couple of years a number of smaller bitumen tankers have been sold or put up for sale. A wider switch to medium-sized 10,000-15,000 dwt and larger 30,000 dwt-plus tankers has resulted in challenging market conditions for the 3,000-8,000 dwt sector.</p><p>Vitol <a href="https://direct.argusmedia.com/newsandanalysis/article/1867712">in March</a> took full control of its 50:50 joint venture with US-based bitumen trading, shipping and terminals group Sargeant Marine.</p><p>The <i>Global King 1</i> most recently delivered a cargo from Izmit, Turkey, to Karachi, Pakistan. It is scheduled to arrive at Haldia on India's east coast tomorrow. Richmond will rename the <i>Asphalt Summer</i> the <i>Asphalt Express. </i>It will load its first bitumen cargo at a Greek or Turkish terminal for delivery east of Suez.</p><p>Valt officials were unavailable for comment on the tanker sales.</p></article>
