An undisclosed Taiwanese buyer has emerged as the victor at an auction of a small chemical/product tanker that became infamous in Singapore for the role it played in one of the biggest fuel oil theft scandals of recent times.

The 12,000-dwt Prime South (built 2009) was sold for a knock-down price of $4.3m, according to brokers in the city-state who have followed the auction process.

The sale was unusual as it was the Singapore Police Force rather than the High Court that auctioned the ship.