BP Shipping is closing in on the sale of eight aframax tankers after seeing a previous en block deal downsized.

Union Maritime of the UK had been preparing a $108m move for all eight ships this summer but has now taken a smaller stable of five vessels, market sources say.

Greek tycoon Evengelos Marinakis is believed to be working on the purchase of the remaining three tankers at a time of growing interest in the crude market.