Discover the Grace-Ferrum: Ratings & Maritime News

A vessel has been sold to breakers in Malta, set for dismantling as is. This sale marks a significant moment in the lifecycle of the ship, as it transitions from operational status to being decommissioned. The decision to sell the vessel reflects the current maritime trends and the ongoing need for recycling services in the industry.

The tanker 'Grace Ferrum', operated by the Cyprus-based company Cymare, has sustained significant damage following explosions resembling those that affected the tankers 'Koala' and 'Seajewel' near the Libyan coast in early February 2025. At the time of the incident, the vessel was fully loaded, having recently departed from the ports of St. Petersburg and Ust-Luga, where it last docked on January 12. Security analysts are raising alarms as the underwater damage suggests the possibility of targeted attacks, potentially with limpet mines. Currently, the 'Grace Ferrum' is undergoing a salvage operation after being declared as not under command on February 20, located at coordinates 32° 56' N 013° 11' E, off the coast of Tripoli, Libya. Additionally, another vessel linked to Thenamaris, the 'Seacharm', faced its own crisis when it was damaged by an explosion while docked in Ceyhan at the end of January. These incidents underline increasing risks facing shipping operations in the region.

In a significant maritime transaction, Ardmore Shipping Corporation has successfully purchased a vessel for an impressive sum of $36 million. This sale marks another strategic move in Ardmore's expansion within the shipping industry, highlighting their ongoing commitment to enhancing their fleet. The acquisition is expected to bolster Ardmore's operational capabilities and reinforce their competitive position in the global market.