Mount Street is mulling more investments in older shipping tonnage after acquiring an 18-year-old product tanker in a sale-and-leaseback transaction.

The London investment manager has purchased the 37,808-dwt MR tanker Banyan Pride (built 2002) from TXZ Tankers. The buyer is owned by oil and gas company International Energy Group (IEG), part of Singapore-listed New Silkroutes Group.