Marenave Schiffahrts sells its last tankers to pay back banks

The fleet of German owner Marenave Schiffahrts is shrinking fast, with the company now believed to have sold all of its tankers.

Sources say the Koyo-built, 68,000-dwt Mare Atlantic and Mare Pacific (both built 2001) have been sold to a company called Kasco for $6.8m each, some $1m lower than expected.

Also, a Greek buyer has acquired the Hyundai Mipo-built, 37,000-dwt Mare Ambassador (built 2005) for $10.6m,