Teekay Tankers is reported to have sold its oldest suezmax at a time when values for crude carriers of this type are hovering around their highest level since 2015.

The Canadian owner has offloaded the 160,000-dwt Seoul Spirit (built 2005) for $34.5m to undisclosed buyers, according to several broker reports and the VesselsValue deals database.

The tanker, which was constructed at Daewoo Shipbuilding & Marine Engineering, is one of two 2005-built ships in the New York-listed company’s fleet.

Teekay Tankers did not respond to a call and emails seeking confirmation of the transaction.

The price tag is reflective of a buoyant suezmax sale-and-purchase market.

After all, Teekay Tankers purchased the ship for an estimated $39.5m as part of its $662m 2015 takeover of US-based Principal Maritime, in which 12 suezmaxes joined the fleet.

VesselsValue estimates that a ship of the Seoul Spirit’s characteristics is worth $39.7m in an open-market transaction, while Maritime Strategies International’s MSI Horizon service puts it at $38.3m.

That is down only slightly from the $40.4m that VesselsValue shows the ship was worth in March, which was a nine-year high.

The ship, which has no scrubber, trades in the Teekay Suezmax Pool.

Even though it is nearly 19 years old, the price tag in the latest deal is worth roughly triple its demolition value, according to VesselsValue. That suggests it still has some life ahead of it.

Teekay Tankers, a spin-off of Teekay Corp, has only one other vessel of this vintage — the 116,000-dwt Erik Spirit (built 2005), according to its online fleet list.