Alter Ego VLCC Sold Again Amid Strong Market Trends

The 300,000 dwt crude carrier Alter Ego, a vessel with a rich operational past, has changed ownership for the ninth time in nearly two decades of service.

Greek shipping firm Cavalli Marine, known for its appetite for older ships, is said to have sold the Chinese-built VLCC to buyers from China. The deal is reported to be valued around $42 million, allowing Cavalli to earn an estimated $3 million profit, not including any earnings from the vessel's time on charter.

This latest transaction comes as the VLCC market enjoys a significant upswing, with charter rates climbing due to a shortage of available ships and global political tensions disrupting trade routes.

Originally named Yale and built by Nantong COSCO KHI, the vessel was purchased from Turkey-based Varan Maritime in late 2023. It was then rebranded as Alter Ego. Industry sources indicate that since April 2025, commercial operations have been managed by NGM Energy, a company closely associated with Cavalli Marine.

True to its evocative name, Alter Ego has a colorful trading history. The tanker has previously visited ports in Iran and Venezuela, and in 2008, just two years after delivery, it made headlines when Taiwanese firm TMT sold it to Indian operator Mercator for a staggering $170 million—still among the highest prices ever paid for a VLCC.