India’s Great Eastern Shipping has been identified as the buyer of one of five MR ships sold by Scorpio Tankers.

TradeWinds is told India’s biggest private shipowner has acquired the 50,000-dwt STI Beryl (built 2013), which has no exhaust-gas cleaner fitted.

US-listed Scorpio said this week the ship had been sold for $36.6m.

Brokers later reported the buyer as Indian.

Last week, TradeWinds reported that Great Eastern had moved quickly to replace a veteran MR tanker it sold in May.

The company said it had agreed a deal to acquire a 2013-built ship of 49,990 dwt, which it did not name.

TradeWinds had narrowed the list down to four ships, based on Clarksons specifications, owned by Scorpio, Pertamina, Gulf Energy Maritime and Chilena Arcomar.

VesselsValue assesses the tanker as worth $37m.

The STI Beryl was bought back by Scorpio at the end of 2023 through a purchase option from Chinese lease financier Bank of Communications Financial Leasing.

Great Eastern has been contacted for comment.

$179m of sales announced

The sale was one of five disposals announced by New York-listed Scorpio this week for a total of $179m.

The Emanuele Lauro-led owner said it had agreed transactions to offload four units built in 2012 and one in 2013, its oldest remaining ships.

Three unnamed buyers have taken the 2012 tankers.

The scrubber-fitted ships are the 50,000-dwt STI Garnet, STI Onyx, STI Ruby and STI Topaz.

All the vessels are free from debt.

The STI Beryl will join the Great Eastern fleet by the end of September.

“The proposed ship will be financed entirely from internal accruals. The purpose of the acquisition is modernisation and expansion of the fleet,” Great Eastern added in its earlier statement.

The company’s current capacity utilisation is close to 100%, it said.

Great Eastern has 43 cargo vessels, comprising 29 tankers and LPG carriers as well as 14 bulkers.

Last month, the Mumbai-listed owner said the 48,700-dwt MR tanker Jag Pranam (built 2004) went to an unnamed third party for delivery in the first half of its current financial year.

The Japanese-built vessel fetched $14m, according to brokers.

Great Eastern paid $14.4m to buy the tanker from NYK of Japan 10 years ago.