Greek tanker owner IMS has divested one of its oldest vessels at a considerably higher price than it bought it for seven years ago.

Market sources in Piraeus said the Marios Gialozoglou-led company sold the 46,000-dwt Butterfly (built 2004) for $18m.

The deal was likely agreed a few weeks back.

IMS bought the STX Shipbuilding-built vessel from Belgium’s Transpetrol for about $11.2m,