Kyoei Tanker could be about to surprise the market with the sale of a veteran VLCC.

The Japanese owner has been marketing the 300,000-dwt Kai Ei (built 2004) for sale as part of its fleet renewal process.

Bids for the ship were due on Monday this week and sale and purchase specialists say Kyoei Tanker is favouring an offer from an Indonesian owner containing long subjects as it looks to seal a tender with Pertamina.