Restructured OSG has sent the 94,800-dwt Overseas Eliane (built 1994) to be chopped up in Pakistan.

A price of between $510 and $515 per ldt has been placed on the deal, meaning OSG has netted up to $8.80m for the tanker.

Cash buyer GMS says the price secured for the ship, sold with 350 tons of bunkers on board, is incredible.