The 4,300-dwt Ruby Star (built 1990) has gone to a Panama-registered company for $485,000.

"Proceeds of the sale will be used to partly repay an existing bank loan and for working capital purposes," it said.

Its two remaining tankers are chartered out until the end of November and December respectively.

Yujin looked likely to delist from London's AIM market this year, but withdrew its application in May.