Transportation Recovery Fund (TRF), a private equity fund managed out of New York and Oslo, has sold a pair of tankers.

Sources say it has sold the 37,600-dwt sister ships TRF Mandal and TRF Marquette (both built 2016) for $38m each, in a deal that continues a busy period of divestment.

Greek brokers are identifying the buyer as Sokana — a joint venture between the Interunity Group, which is led by brothers George and Christos Mangos, and Danish player Lars Ebbesen.