US-listed Teekay Tankers is selling one of its oldest suezmax tankers in what appears to be part of a fleet renewal.

Brokers in the US and in Europe said the Hyundai Heavy Industries-built 165,000-dwt Ashkini Spirit (built 2003) has been sold to an undisclosed Greek buyer for $19.4m, possibly as much as $19.8m.

VesselsValue estimates the tanker is worth $18.7m.