Greek owner Velos Tankers buys product carriers in renewed expansion drive

Velos Tankers is buying its first vessels in nearly three years, likely marking a fresh expansion drive for the product carrier specialist led by Paschalis Diamantidis.

Market sources relate the Athens-based company is spending $19m on the 46,000-dwt Challenge Procyon (built 2011) — a vessel currently with Japan’s Kyoei Tanker.

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The deal comes hot on the heels of Velos acquiring another, somewhat smaller, product carrier that has already joined its fleet — the 36,700-dwt MR1 Easterly Sirius (renamed Velos Rubini, built 2010).