Greek owner Avin International is expanding its fleet with the acquisition of a nine-year-old MR tanker from Formosa Plastics, brokers say.

The 50,000-dwt FPMC 23 (built 2010) has been picked up for a price in the low $15ms, US brokers report. VesselsValue says the tanker is worth $18.6m.

Both Avin and Formosa have yet to respond to requests for comments.

The Vardinoyannis company is relatively active in the sale and purchase market.

In April it bought the Shin Kurushima built 46,000-dwt Ariake Maru (built 2008) for $13.6m.

The company has also sold two tankers this year.

In the 47,000-dwt Vera Cruz (built 1999) was sold to a Middle East based buyer for $6.2m and in April the 45,000-dwt Kriti Rock (built 1999) went for $6m.

Avin is listed with a fleet of 34 tankers and two bulkers trading.

In June it returned to the shipbuilding market with an order for two 158,000-dwt tankers at Hyundai Heavy Industries (HHI).

The ships, for delivery in early 2021, costing in excess of $120m in total.