US-listed Eagle Bulk Shipping has been linked to a highly lucrative deal to offload three supramaxes acquired two years ago.
European brokers have reported the 2011-built trio has been offloaded for prices of at least $16m each or $48m in total, against an outlay of about $30m back in February 2021.
The Chinese-built, 58,000-dwt Sankaty Eagle, Montauk Eagle and Newport Eagle (all built 2011) were bought from US owner Alterna Capital.
The new buyer is not known, but the price is in line with VesselsValue estimates.
Norwegian shipbroker Cleaves said activity remains high in bulker sale-and-purchase circles, despite a more sluggish freight market with rates moving sideways.
“Supramaxes have proved very popular among buyers,” the company added.
Cleaves believes middle-aged ships offer a good ratio of earnings to investment.
The brokerage has logged a dozen such 10 to 12-year-old vessels changing hands this month.
Gary Vogel-led Eagle Bulk struck the deal for the vessels with Connecticut neighbour Alterna for a mix of cash and shares.
The shipowner said in 2021 it was paying $21.5m and 329,583 common shares, giving a total of $29.8m.
Eagle Bulk has been contacted for comment.
Values keep rising
The ships were called the Cooper, Texas and Wilton at the time. They were all constructed at China's Yangzhou Dayang Shipbuilding.
The Baltic Exchange was quoting supramax rates at $12,059 per day on Monday.
Norwegian shipbroker Lorentzen & Co said five-year bulk carrier values keep rebounding.
The Baltic assesses a 2018-built supramax as worth $25.4m, up about 5% so far this year.
