A Brightoil Petroleum VLCC will be auctioned again after a "low price" was achieved in Hong Kong.

The arrested 320,000-dwt Brightoil Galaxy (built 2012) went up for sale this week and received a best offer of $61.5m, according to VesselsValue.

On Thursday the court ordered that the ship be re-tendered.

The tanker was estimated to be worth $65m.

Fleet going under hammer

It was one of four Brightoil ships that the High Court of Hong Kong had previously been accepting sealed bid tenders for.

The others were three aframax tankers that were arrested in January by lawyers from Watson Farley & Williams Hong Kong who were acting on behalf of Brightoil creditors.

Bidding for the 115,600-dwt Brightoil League, the 115,000-dwt Brightoil Lucky and the 107,500-dwt Brightoil Legend (all built 2009) had been due to close on 11 September.

A Chinese court has also ordered the auction of Brightoil Petroleum's final tanker.

The 320,000-dwt VLCC Brightoil Gem (built 2013) will be sold on 19 November on the online platform Taobao.

Haikou Maritime Court made the order to sell the ship in a dispute over a vessel mortgage and loan dispute with French bank BNP Paribas.

Hong Kong-headquartered Brightoil had failed to provide any security or guarantee and the arrest period has now expired, the court said.

The starting bid has been set at CNY 390m ($55m), with the deposit CNY 30m.

Bids can be made in increments of CNY 100,000.

More Brightoil ships are up for sale in Singapore.

Previous auctions of Brightoil VLCC and aframax tonnage that took place in May and June attracted strong buyer interest, with two VLCCs sold to Delta Tankers and another to Zodiac Maritime, while Stealth Maritime picked up an aframax tanker.

The auction sales raised in excess of $200m, Brightoil said shortly thereafter.