It did not take long for Imperial Petroleum to start spending the money it tapped the equities market for earlier in the week.

The Harry Vafias-led tanker owner announced on Friday that it was spending $46.8m to buy two unidentified suezmax tankers following a $40m equity raise on Monday.

Imperial said the ships were built in 2007 and 2008 and are expected for delivery in June.

The rest of the purchase will be paid for through new senior secured bank debt.