Sinochem International Corp said it had sold 152.75m shares for CNY 830m ($113.69m) to CSDC unit China Shipping Tanker.
CSDC had said earlier this month it would be bidding for the holding.
It paid the starting price for the shares.
Shanghai North owns four modern aframaxes, plus four products carriers, and has one more of each due from Chinese shipyards this year.
