Sources say TNG bought two 50,000-dwt resale contracts from York Capital for $36.5m each. The first of the Hyundai Mipo Dockyard (HMD)-built sistership newbuildings, the Vukovar, has been fixed to Scorpio Tankers at $17,250 per day.

Fearnleys says the three-year rate for an MR is $16,000 per day.

TNG is a spin-off from Croatian owner Tankerska Plovidba and has two other products tankers — the 52,000-dwt Velebit and Vinjerac (both built 2011) — that are employed in the Stena Weco pool.