A decision by Greek owner Michael Tsangaris to enter the tanker business last year, when the sector was still in the doldrums, is starting to pay off big time.
His company Westport Tankers, which has bought four aframaxes since setting up shop in early 2021, is believed to have sold one of them, at a considerable profit.
According to broking sources in Athens, London and the US, the Piraeus outfit disposed of the 115,600-dwt Nicholas (built 2007) to Chinese interests for between $27m and $27.7m.
