The last tanker in the fleet of Brightoil Petroleum was auctioned in China on Tuesday and, like others before it, probably passed into Greek hands.
Market sources in Athens and Hong Kong said Pantheon Tankers submitted a winning bid of about $58m for the 319,800-dwt Brightoil Gem (built 2013).
One market source pinpointed the price at $57.35m.
TradeWinds understands four potential buyers, who were described as the "usual suspects", inspected the ship. All were from outside of China.
Pantheon was not available to comment.
The outfit is known to be renewing its fleet. It has been shedding older units while ordering and taking delivery of a string of newbuildings — from VLCCs to MR product tankers.
The Brightoil Gem was under arrest in China on behalf of BNP Paribas and is thought to have been sold on Chinese online auction platform Taobao.
Other ships in the fleet, formerly controlled by Brightoil’s self-made billionaire founder Raymond Sit Kwong, have been auctioned in South Korea and Singapore.
Creditors arrested Brightoil's entire international trading fleet early this year.
Founder Sit resigned as chairman and chief executive after he was declared bankrupt in April as a result of personal guarantees he had issued.
Several Greek shipowners benefited from Brightoil's demise, including the Vafias family, Delta Tankers principal Diamantis Diamantides, as well as Vardinoyannis-family-controlled Avin International.
