Thenamaris, a Greek owner whose moves are closely watched by the market, is widely believed to be behind a sale-and-purchase deal for a 10-year-old aframax tanker.

The acquisition of the 107,500-dwt Rumford (built 2012) from the Reuben Brothers for $32.75m would be Thenamaris’ first buying move in the secondhand market for tankers since November last year.

The Greek company bought a crude carrier at the time — the 158,300-dwt suezmax Densa Whale (renamed Seamajesty, built 2012) for about $32m.

The fact that today an aframax costs the same kind of money that a suezmax of the same age did just six months ago goes to show how much asset values have appreciated in the market revival amid the conflict in Ukraine.

It is this revival that probably encouraged the Reuben Brothers, a UK-based shipowner and private equity group, to finally divest the only tanker in its fleet.

The Rumford used to belong to Rizzo Bottiglieri De Carlini Armatori (RBD Armatori), a bankrupt Italian shipowner acquired by Reuben brothers Simon and David in a court deal two years ago.

The transaction doubled the size of the billionaire siblings’ fleet to 16 vessels that are bundled into the RB Shipping brand — all of them were bulkers except the Rumford.

At arm’s length

The Reuben brothers integrated the former RBD Armatori vessels into their shipping group under the standalone RB Armatori platform, which manages vessels out of Naples.

RB Shipping also includes RB British Marine — a separate in-house ship management outfit that operates the group’s kamsarmax vessels out of London and Dubai.

According to RB Shipping’s website, RB Armatori and RB British Marine are operated on an arm’s length basis and provide technical and commercial management services to both the RB Shipping fleet and third-party owners.

Spokespeople at both Thenamaris and the Reuben Brothers declined to comment on their reported Rumford deal.

Thenamaris is one of Greece’s biggest and most diversified shipping companies, with a fleet of about 100 ships in the water or under construction — from bulkers and tankers to gas carriers and boxships.

The bulk of Thenamaris’ fleet, however, consists of tankers, mostly aframaxes.