Greek owner Aeolos Management is securing a firm price for a 19-year-old VLCC sold as a conversion candidate.

European brokers said the Daewoo-built 306,000-dwt Astipalaia (built 2001) has gone to Modec for $26.5m.

UK-based online firm VesselsValue says the tanker is worth $25.3m. The vessel is due for special survey in May next year.

Maybe even more important for the seller is that the tanker has been an important cash cow for many years.