Teekay Corp has sold a floating storage and offloading unit for demolition, market sources say.
The 149,000-dwt Navion Saga (built 1991), which was recently renamed Lion, is headed to India, according to European shipbrokers and satellite tracking data.
The price has not been revealed, but the FSO is expected to fetch between $9m and $10m.
Before the deal, the vessel was one of five FSO's in the fleet of the Vancouver-based tanker group's Teekay Offshore spinoff, which had formally deemed the tanker for sale as of 30 June, according to data from the US Securities & Exchange Commission.
It had been idle since October 2016 after the end of its contract with Norwegian oil company Statoil, which did not take up an option to extend the time charter deal.
The Navion Saga had been converted from a shuttle tanker.
A Teekay spokesman declined to comment on reports of the sale.
