Adam Polemis, one of Greece’s largest VLCC owners, has wasted no time in topping up his tanker fleet following an active period of demolition activity.

Polemis-backed New Shipping is in the process of purchasing a 15-year-old VLCC from Japanese giant Mitsui OSK Lines, shipbrokers say.

A price of around $21m is being placed on the 299,000-dwt Vega Trader (built 2003), which sources suggest will be renamed New Naxos.