Greek tanker owner Delta Tankers has secured a three-year-old VLCC from China’s GC Tankers at a knock down price to enter a new area of the market.

Shipbroking sources say the Jinhai built 319,000-dwt Shanghai (built 2015) has been sold to the Greek owner for in the region of $51m to $52m. VesselsValue claims the Shanghai is worth $57.8m.

Delta did not respond to requests for comments at the time of writing this week.