Brokers confirm that Onassis-backed Olympic Shipping has been active in the tanker S&P market lately.

The low profile Greek owner has come in for three VLCCs that private equity firm Oaktree had bought from Nobu Su's TMT. Olympic has paid US$195m for the trio, two built in 2010 and one in 2011, all at South Korea's Hyundai Heavy Industries.

In 2014, Olympic snapped up another pair of TMT ships. Its VLCC fleet is now made up of 12 ships.