Adam Polemis-led New Shipping has sold its oldest VLCC for scrap, demolition brokers said.
They said the 299,000-dwt New Diamond (built 2000) has likely fetched about $22m, though details of the transaction are not clear. The tanker is believed to have been sold through GMS, a cash buyer of ships for demolition.
Before brothers Adam and Spyros Polemis split their business empire amicably in 2014, the New Diamond had been owned by their commonly owned Polembros Shipping.
