Polembros Shipping has struck a deal to sell its oldest aframax at a price above the one it paid to buy the same ship about seven years ago.

Ship-management sources in Athens and Piraeus are relating that the 115,300-dwt Kythira Warrior (built 2006) is about to change hands for $38m.

This is higher than the $33m to $34m that Polembros is said to have spent to acquire the Japanese-built vessel in October 2015.