Indian owner Great Eastern Shipping is offloading another one of its vintage tankers.
The Mumbai-listed diversified owner said it had struck a deal with an undisclosed buyer for its 2005-built MR Jag Padma.
No price tag has been attached to the deal, but the 47,999 dwt ship, VesselsValue estimates at about $17.8m, should change hands by the end of the year. S&P records show the company bought the STX-built unit for $18.7m in 2015.
Great Eastern has been busy rejuvenating its fleet this year with several deals that saw older tonnage exit and be replaced by younger models.
Most recently, the company agreed to sell its 2005-built suezmax crude tanker Jag Lalit to an unaffiliated third party.
Including the two ageing tankers agreed for sale, the fleet currently comprises a mix of 28 crude and product carriers, four LPG carriers and 13 bulkers.