Encouraged by multi-year low VLCC values, Greek-Cypriot shipowner Andreas Hadjiyiannis has been pouncing on large tankers, according to Greek shipmanagement sources.

Hadjiyiannis company Hellenic Tankers is said to have committed to the purchase of the 306,200-dwt Takamine (built 2004) from NYK Line for about $22.5m.

This price seems on the low side, compared with other recent sales of similar ships.