The latest reported secondhand deal for an ageing VLCC shows how prices are holding at strong levels for these valuable veterans.

European brokers have identified the 309,400-dwt Baltic Sunrise (built 2005) offloaded by South Korean state finance fund Korea Asset Management Corp (Kamco) for a huge $51m or $51.5m.

High value of five-year-old ships is ‘classic’ sign of market health, Clarksons says
 Read more

Chinese interests are said to be behind the deal.