China’s Southern Petrochemical has emerged as the buyer of Eastern Mediterranean Maritime’s 281,751-dwt VLCC Agios Nikolaos III (built 1991).

Chinese oil traders have their eyes set on Singapore's bunker market and are buying VLCCs for storage
Guangzhou-based Southernpec, an affiliate of China’s Sinopec Group, is said to have paid around $15m for the ship.

The ship is the companies’ first owned VLCC.