Jeddah headquartered Bakri Navigation Company continues to be hungry for more tonnage.
Brokers report that the Arab outfit has purchased the 98,800 dwt Astro Antares, a tanker built in 1996, for $12.2m.
The vessel is listed under the management of Maran Tankers in Greece.
This is not the first time the Saudi Arabian player is in the secondhand market this year. Sources say the company has bought a couple more elderly suezmaxes over the last two months spending close to $50m in the secondhand market.
The diverse player is operating tankers in most sizes.
Bakri International Energy Company is the parent company of Bakri Navigation.