The transactions mark the end of the US-listed owner’s efforts to spin off its tanker assets as Tankships Investment Holdings in a New York initial public offering (IPO).

Tankships said in a filing it was withdrawing its IPO application "due to market conditions."

“Ultimately, we believe the sale of the tankers as opposed to an initial public offering of our tanker fleet is the best way to immediately realise maximum value,” said DryShips chief financial officer, Ziad Nakhleh.

Suezmax