Turkish owner Yasa Holding has fetched a stronger-than-expected price for an 11-year-old LR2 tanker, indicating that rising tanker rates are now translating into higher ship values.

The 116,000-dwt product tanker Yasa Golden Horn (built 2007) has gone to a Vietnamese buyer for $20m, European shipbrokers report.

Yasa did not respond to requests for comments.