A 21-year-old aframax tanker formerly in the Onassis fleet is said to be heading towards the scrapyard.

The 96,800-dwt Olympic Spirit II (built 1997) is being sold for demolition, London- and Athens-based brokers report, without revealing the transaction price or the exact location at which the vessel will be scrapped.

Market sources told TradeWinds that Onassis company Olympic Shipping & Management sold the Sumitomo Heavy Industries-built vessel last month in a confidential deal at a price of about $6.5m.