Gener8 Maritime has lifted subjects on a VLCC sale that appears to signal a lift in asset values in the sector.
New York-listed International Seaways is understood to have paid about $53m for the the 318,300-dwt Gener8 Zeus (built 2010), which would reflect a notch up in valuation.
International Seaways chief executive Lois Zabrocky declined to comment on the transaction in response to a query from TradeWinds this week.
