Indian owner Mercator has sold its 2000-built 47,000 DWT MR tanker Prem Mala via auction as part of a sell off its fleet.

According to reports by Seasure Shipbroking and Advanced Shipping & Trading, the Japanese-built vessel was bought by UAS-based Nan Lian Shipmanagement for a price of $4.8m, lower than VesselsValue’s valuation of $6m.

Following the sale, Mercator’s fleet is left with one vessel, the 1999-built LR2 tanker Prem Pride.