Epic Gas is in the process of selling its oldest ship.

Oslo Merkur-listed Epic says a memorandum of agreement has been inked for the 5,000-cbm Epic St John (built 1998).

No price was given for the transaction. VesselsValue prices the Epic St John at $4.22m.

The sale was announced as the shipowner reported a loss of $16.4m in the final three months of 2017, including impairments.