US-listed International Seaways is said to have disposed of another elderly tanker as its fleet reorganisation progresses.

Brokers report the 162,000-dwt suezmax Seaways Saugerties (built 2006) has gone to unnamed European interests.

Price estimates range from $20.7m to $21.8m.

VesselsValue assesses the tanker's value at $21.5m.

The deal follows the disposal of the 37,000-dwt MR1 Seaways Bodie (built 2006) in November.

Again, no buyer has emerged for this vessel, which was offloaded for $7.6m with a dry-docking due.

International Seaways is not commenting on either transaction.

Suezmax markets have been weak this year, but UK shipbroker Howe Robinson Partners said a "couple more" questions were being asked by charterers this week, with a handful of ships going on subjects under the radar.

"However, tonnage remains in healthy supply and it remains difficult to see where any improvement in rates will come from as we head into the back end of the week," the shop added.

West Africa-to-Rotterdam spot rates are quoted at nearly $3,700 per day.

No additions, but sales likely

International Seaways has previously said it is unlikely to be adding to the fleet, following its takeover of compatriot Diamond S Shipping earlier this year.

But the company has been tipped to keep selling older ships by US investment bank Jefferies.

International Seaways has divested 14 unwanted tankers this year, including the latest sales, as it seeks to optimise the crude and product tanker fleet after the completion of the $2.2bn merger in July, which doubled the fleet to 102 units.

Jefferies analysts Randy Giveans, Christopher Robertson and Chadd Tribo said that following meetings with management, they believe the owner will look to "monetise" veteran vessels.

International Seaways is also looking to sell its 50% holding in a joint venture with Euronav that owns two floating storage and offloading vessels.

Twelve previous sales earlier this year brought in $74.7m and included a 2002-built VLCC and seven MR tankers.

The company retains three panamaxes that are approaching 20 years of age, and a fourth built in 2004.

The Seaways Saugerties is the next oldest vessel, along with seven other tankers constructed in 2006.