Hong Kong's Agritrade Resources has agreed a deal to sell an elderly VLCC it has been using for crude storage.
The 300,000-dwt Sea Equatorial (built 1997), the first large tanker it acquired, has gone for $18.5m to Da Hui Shipping of Singapore, it said.
The price is equivalent to HKD 145m, whereas the book value was HKD 154m. The ship was bought from OSG for $22m in 2014.
