India’s Great Eastern Shipping has offloaded a veteran tanker as sale-and-purchase (S&P) demand continues to mount in the sector.

The Mumbai-listed company said the 110,000-dwt aframax Jag Lyall (built 2006) will be delivered to an unnamed buyer during its current financial year ending on 31 March 2023.

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VesselsValue rates the tanker as worth $25m for further trading, and $12m for demolition.