Arcadia Shipmanagement, a low-profile tanker company led by brothers Panagiotis and George Angelopoulos, has sold its fourth ageing ship in about a year.
As part of its fleet renewal initiative, the company has divested its oldest vessel, the 159,100-dwt Aegean Angel (built 2004), while simultaneously ordering six newbuildings in its traditional sectors of operation, namely suezmaxes and aframaxes.
The transaction price for the Hyundai Heavy Industry-built vessel remains undisclosed.
