Authorities in Aruba have finally rid themselves of a long laid-up Varun Shipping aframax tanker after selling it for a bargain $5.86m at auction.
The price for the 107,000-dwt Amba Bhavanee (built 2003) does not reflect the trading value of the vessel as it has been laid up off Aruba for the past two years and is out of class. According to VesselsValue, if the ship had been in trading condition, it would have been worth closer to $12.2m.
