Tanker S&P activity has been quiet in recent weeks， with many industry players tied up networking at Posidonia， but brokers in the Far East have still been busy.

Sources tell that Taiwanese owner Sincere Navigation is down to one VLCC， parting with its second VLCC this year. The company has parted with the 2011-built， 297，000 dwt VLCC Maxim， built by Jiangnan Shanghai Changxing Heavy Industry. No price has been attached to the deal.

The last comparable sale came in March， when Sincere Navigation sold a sister vessel named Kondor， built in 2012， to Sinokor; the price tag for that deal was $78m. That tanker has since been renamed Madagascar Prosperity.

Sources tell that Sinokor， one of the most active players in the VLCC market， is also behind the latest deal.

Founded in 1968， Sincere Navigation is one of Taiwan’s leading shipowners. The company is now left with one VLCC， the 2017-built Elbhoff. Ironically， that vessel was ordered in 2015 for around $95m and could now fetch about $15m more in today’s market.