Sinokor Merchant Marine is tipped to have executed a profitable asset play on a VLCC that was in its fleet for less than two years.

Another low-key shipowner, China's Kunlun Holdings, is reported to be the buyer as it rapidly builds up its veteran VLCC fleet.

Multiple shipbrokers report that South Korea's Sinokor has sold the 298,414-dwt Gulf Glory (built 2002) for more than $24m.