According to broker sources, Monaco-based Andromeda Shipping has bought 150,900dwt, NKK-built Sifnos for US$12m from Greek owner Kyklades. The price is as expected if one looks at numbers from online portal VesselsValue.com who sets the market value at US$11.40m for the ship. The 18-year-old tanker will be the second ship bought so far this by year by Andromeda.

Andromeda International, who is a pure tanker player owning, managing and operating tankers from 30,000dwt to 150,000dwt was established in the early 1990s. Now the company has a short list of elderly tankers in its fleet.

The seller is renewing its tanker fleet and was reported snapping up two resale VLCCs at Hyundai Heavy Industries (HHI) in 2016.