Hafnia, the product tanker arm of Singapore-based BW Group, has sold a 14-year-old LR1 ship amid fleet renewal efforts.

Brokers reported that the company recently sold the 75,000-dwt Hafnia Europe (built 2006) for about $11.3m to unknown interests.

When contacted by TradeWinds, Hafnia said the report was “pretty close to the actuals” but refrained from commenting further.