Singapore's restructured Noble Group has sold one of its five remaining bulkers as it exits shipping.
The trader said its subsidiary Asia Rainbow International completed the sale of the 93,000-dwt Ocean Ruby (built 2010) for $13.2m.
It did not name the buyer, but AIS data shows the ship operating under the name Caroline Oldendorff, suggesting a deal with the Oldendorff group.
Net proceeds, after deducting broker and address commission, are $12.87m.
In April, the company said processes were underway to offload the fleet.
In December, a new company was formed from the ashes of "Old Noble", with substantially all of the assets and business being transferred.
Creditors have taken over 70% of the new entity, with 20% held by shareholders of the previous company and 10% by management.
Its Asset Co Group is the owner of the bulker fleet.
The ships are debt-free and comprise a capesize and four post-panamax units, built between 2010 and 2013.
They are operated by Noble's Trading Co Group’s freight business, under a management services agreement, as part of the group’s overall freight business.
"The group plans to dispose of the vessels and is in the process of actively seeking buyers," it said at the time.
No impact on freight operations
"The proposed disposals will not significantly impact the operations of the group’s overall freight business," it added.
Noble added it "remains focused on working with its investment partners related to its strategic investments in Jamalco and Harbour Energy, along with pursuing disposals of its interests in Noble plantations and the vessels."
It added that total volumes, including both off-take and marketing, were 2m during the period related to Jamalco and external customer volumes shipped by its bulkers.
In February, TradeWinds reported that the company was exploring the sale of a 2011-built capesize at a time when sale-and-purchase markets were proving inhospitable for would-be sellers.
It hoped to achieve $27m for the Dalian-built 180,300-dwt Aqua Vision.
Noble's bond and bank debt had fallen into default and it had already been selling some of its dry cargo fleet over the year before its restructuring was sealed.
