UK shipowner Union Maritime appears to be logging a substantial profit on the sale of a 16-year-old aframax tanker.

The 104,900-dwt Anavatos (built 2003) has gone to an Indonesian buyer for between $13.5m and $14m, European shipbrokers said. It has an attractive dry-docking status, as it passed special survey in April last year.

Union Maritime bought the aframax for $9.9m