NEW YORK, November 24. /TASS/. Indonesia is auctioning off the VLCC Arman 114 supertanker replete with crude oil at a starting asking price of $70 mln, Bloomberg reports, citing an official government document.

The tanker is under US sanctions. The Iranian ship was detained in 2023 while trying to transfer oil to another tanker in Indonesian waters, the news agency said. The Arman 114 has 167,000 metric tons of sweet oil on board. The auction is being overseen by the Indonesian Office of Prosecutor General. Under the terms of the auction, the buyer will pay for ship maintenance and security. The winning bidder will be obligated to relocate the tanker within thirty days after the purchase.

Shipbrokers say a new supertanker sells for about $126 mln, a 15-year old vessel for $59 mln, and believe the right price for the VLCC is about $16 mln.

The Arman 114 was allegedly carrying oil from Iran before her detention, Vortexa and Kpler analytical firms say. The sale of such ships is difficult due to sanctions issues related to any sale, Bloomberg indicated.