Nicholas G Moundreas’s NGM Energy hasacquired 2000-built VLCC DS Commodore from German owner DS Tankers.

According to Seasure Shipbroking, the Hitachi-built crude tanker was sold to NGM Energy for a price of $22m and the new owner has requested prompt delivery to deploy it into the hot crude shipping market.

It is the third vessel NGM Energy has acquired from DS Tankers this year, having bought Suezmax tankers DS Melody and DS Symphony from the German owner in April.

Data from Braemar ACM shows that one in five VLCCs in operation today faces restrictions from US sanctions, which has pushed up the VLCC rate to over $300,000 a day in the past few days.

NGM Energy currently owns a fleet of 28 vessels made up of 18 tankers and 10 bulkers, with one Suezmax new ship-building on order at New Times Shipbuilding.