Splash247: Primebulk trims fleet

Greek owner Primebulk Shipmanagement is closing in on a tidy profit, clearing out an elderly capesize vessel in a firming market. 

Brokers note that the Paul Coronis-led company is selling the 178,100 dwt Cape Aqua (built 2009), a ship it acquired for $18.9m in 2017. The scrubber-fitted vessel, built at Shanghai Waigaoqiao Shipbuilding, was noted as sold for $25.5m to undisclosed Chinese buyers. The same ship was noted as sold for $24m in July, according to sales registers. 

Primebulk is busy also trimming its exposure for smaller tonnage, selling its pair of Japanese-controlled handysize bulkers, the 30,100 dwt Mykonos and the 30,900 dwt Madrid (both built 2013 at Tsuji Heavy Industries) to Turkey’s Dramar Shipping for a reported $22m en bloc. These ships were added in 2021 for $23m. The sales, when complete, leave the Greek outfit with nine ships.