Germany's Reederei Nord has contradicted shipbroking reports of a double sale of elderly LR1 tankers.

But the company has indicated that older ships will be moved on.

Brokers reported that the 75,000-dwt Nordmerkur and Nordneptun (both built 2004) had been offloaded to unnamed United Arab Emirates (UAE) buyers for $10m each.

VesselsValue assesses the ships as worth $23m combined.

Adriaan Ruppell, co-managing director of Reederei Nord, told TradeWinds: "It is correct that we are exploring the sale of our older ships."