China Merchants Energy Shipping (CMES) has sold an elderly VLCC to the scrapyard as part of it ongoing efforts to renew its fleet.

The VLCC Kai Yong, built in 1992 at Japan’s Hitachi Zosen Corporation Arake Works, is sold at RMB83.91m ($13.43m).

CMES noted that the VLCC is left with three operational years before it reaches the mandatory scrap age of 25.

The tanker has been sent to the Chinese scrapyard on 30 May.

Last month, the Chinese shipowner disposed a 21-year-old VLCC, and sold another 22-year-old VLCC in February.

CMES pointed out that its fleet renewal programme will welcome 10 new eco-friendly VLCCs, with phased deliveries starting from the third quarter of 2014.