A George Economou-controlled VLCC has reportedly been chartered by commodities giant Vitol to lift a cargo of Venezuelan crude.

The TMS Tankers-owned, 299,995-dwt Gustavia S (built 2020) has been booked for $11m for a voyage to China, reported Bloomberg.

Last month, the US lifted sanctions on Venezuela’s oil exports for six months following a deal between the government and opposition parties for an internationally monitored election to be held next year.