International Seaways ships out 14-year-old MR

US owner International Seaways has sold its fourteen-year-old MR High Mars to undisclosed buyers amid rising tanker values.

Clarksons reported the New York-listed player had landed around $20.5m for the South Korean-built ship without a ballast water treatment system (BWTS), which VesselsValue estimates as worth close to $22.6m.

Although High Mars last exchanged hands in 2011 when Diamond S Shipping picked it up for a price tag of $40m, ships of similar class and age but also BWTS-fitted fetched around $18m a few months back, reflecting more favourable market conditions. International Seaways owns and operates a fleet of 78 vessels, of which around half are MR tankers.

In related tanker sale news, Belgian owner Euronav disposed of its 2006-built suezmax Cap Guillaume for about $36m to Middle Eastern buyers, with the last comparable sale of sixteen-year-old suezmax Storviken, renamed Charvi, in June being in the region of $23.5m.