Transgas has shelled out $3.1m to pick up an LPG carrier sold at auction nearly two weeks ago, the company confirmed today.

Sources familiar with the transaction say the Peruvian gas owner purchased the 7,200-cbm Emerald Star (built 1992) from DnB NOR shortly after the Nordic banking giant coughed up cash to buy the vessel off the block in Gibraltar on 11 February following an earlier arrest by banks.

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