Mega Shipping, a little-known shipowner, is selling its two handysize tankers as part of its exit strategy from shipping.

The United Arab Emirates-based company is seeking to offload its MR2-type chemical and product tankers, the 45,500-dwt Betelgeuse and 53,200-dwt Spica (both built 1999).

Mega acquired the Hyundai-built ships in 2010 and 2011.

The company is described as being a vessel-investment vehicle and was set up by Middle East business interests.