But it appears no actual sale has taken place. In an unusual manner, the tanker has simply been refinanced by Stena Group of Sweden. A Stena director confirms the company was involved in the transaction, apparently on strict commercial terms.

The Swedish company’s tanker arm, Stena Bulk, is not part of the deal and the operation of the Skamandros continues to be with Westgate, the tanker company of Greece’s Halkias family.

Market