Greek shipowner Avin International could be set to completely exit the bulker market, with reports that the company has sold one of its two panamaxes.

US brokers said the company's the 76,000-dwt Vamos (built 2004) has gone to an undisclosed buyer for $9.5m.

The price for the the Tsuneishi Shipbuilding-constructed vessel is more or less in line with the $10.2m that JL Mowinckels Rederi of Bergen recently fetched for the slightly newer76,000-dwt Heina (built 2005), which was also built in Japan.

Avin did not respond to a request for comment.

TradeWinds understands that Vamos is not due for special survey till February 2024. The bulker is the latest investment for the Vardinoyannis family-controlled company. Avin purchased the ship, when it was the Million Trader, from Nisshin Shipping of Japan in May 2015 for $9.3m.

The other bulker in the Avin fleet is the 74,000-dwt Evangelia (built 2000), which was built at Sasebo Heavy Industries. This ship was purchased from compatriot owner P and P Shipping in March 2013 for some $11.5m. This Evangelia is due for special survey in February next year.

Avin is primarily a tanker owner and is listed with 32 units that on the water.

The bulker sale comes in a year that the company has been renewing its tanker fleet.

In March, the company sold the 47,000-dwt Vera Cruz (built 1999) was an undisclosed Middle East buyer for $6.2m and a month later the 45,000-dwt Kriti Rock (built 1999) went for $6m to Destiny Marine of the Marshall Islands.

At the same time, the Athens-headquartered company has been buying tankers. In April, it purchased the 46,000-dwt Ariake Maru (built 2008) for $13.6m. It is now inclu,ded in the Avin fleet as the Kriti Rock.

In July, the Greek shipowner reportedly bought the 50,000-dwt FPMC 23 (built 2010) from Formosa Plastics. The ship was understood to have changed hands for more than $15m. In addition, Avin returned to the shipbuilding market in June with an order for two 158,000-dwt tankers at Hyundai Heavy Industries (HHI). Set for delivery in early 2021, the ships are reportedly costing more than $120m in total.