Tanker markets have apparently revived sufficiently to make asset plays possible for players who bought vessels at the bottom of the market.

Greece’s Aeolos Management, a company led by the Embiricos family, is believed to be making more than $10m in profit on the sale of a 17-year-old VLCC.

Brokers in Athens and the US report that the 299,900-dwt crude tanker Amorgos (built 2004) fetched $35.5m in a deal concluded late last month with unidentified Chinese buyers.

Aeolos managers did not respond to a request for comment.