Norwegian tycoon Trond Mohn’s tanker owning company Nyhill Shipping is working on a sale of one of its two oldest vessels as MR tanker values continue to swell.

Broking reports last Friday reported that the 47,128-dwt chemical/product tanker Jo Ask (built 2007) had gone to a Middle East-based buyer for around $20.5m, a price that would represent a substantial increase from the last comparable deal.