The sale of a large heavylift multipurpose general cargo ship ends a long-running case during which it was accused of being owned by a Hong Kong-registered front company for Iran’s largest shipping company.

South African auctioneer Solution Strategists sold Sergio Ltd’s 28,200-dwt Sevgi (built 2012) on 16 May to an undisclosed bidder for $16.2m, a price very close to the $17.9m