Chinese bulker owner and operator EGPN Bulk Carrier has taken its quest to become a tanker player one step further with the purchase of a former Xihe Holdings product tanker.

Multiple brokers have identified EGPN as the buyer of the MR2-type, 50,400-dwt product tanker Ocean Pluto (built 2007), which was reported sold to Chinese interests at the end of December for $9.9m.

Beijing-headquartered EGPN was launched in 2014 as a dry cargo operator but turned shipowner three years ago through a series of secondhand bulker buys.