Transmed Shipping has sold its oldest bulker as it continues to dispose of vintage dry bulk tonnage.
The Greek shipowner has sold the Jiangnan Shipyard-constructed, 73,000-dwt Edelweiss (built 2004) for $7.4m to an undisclosed Chinese buyer, Greek shipbrokers said. The price is in line with expectations.
Charalambos Mylonas-led Transmed did not respond to requests for comment.
The company is taking a significant loss on the bulker after buying it from Japan's Kyokuto Shipping for $64m in April 2007, a year before the market collapsed.
Last September, Transmed sold a similar Japanese-built bulker, the 75,000-dwt Chance (built 2004), to a Chinese buyer for $9.6m.
The Greek shipowner has been an active player in the sale-and-purchase market for tankers and bulkers.
Last week, TradeWinds reported Transmed had bought the 165,000-dwt tanker Ashkini Spirit (built 2003) from Teekay Tankers for about $19.4m.
In July, Transmed purchased the 300,000-dwt tanker Aquarius Wing (built 2005) for $35.3m.
Also last year, the company paid $32m each for two 85,000-dwt bulker newbuildings.
Transmed is listed with a fleet of 29 ships with an average age of eight years.
