A few weeks after flipping two supramaxes at a juicy profit, Cosmoship Management repeated the trick with a handysize bulker and a pair of feeder containerships.

The Nick Savvas-led company sold the 1,528-teu FSL Kolkata and FSL Colombo (both built 2020) just a few months after taking delivery of the vessels from Guangzhou Wenchong Shipyard, ship-management and broking sources in Athens and London said.

Price details have not emerged but Savvas has likely generated a bumper profit from the deal. The FSL Kolkata and FSL Colombo were part of a four-ship order that his company inked at the Chinese shipyard in December 2017.

The vessels were worth nearly $17m at the time, according to VesselsValue. Their estimated value rose to about $23m at the end of March 2021, when the deal to sell them to their new owners is believed to have been signed.

Algerian liner company CNAN Med has already taken delivery of the ships. The FSL Kolkata is trading as Djanet and the FSL Colombo has been renamed Cirta.

Their purchase is the state-controlled firm's first recorded move of the secondhand market. CNAN Med is listed as owning a single containership so far, the 1,700-teu Tamanrasset (built 2017), which it ordered itself as a newbuilding at China’s Zhejiang Ouhua Shipbuilding.

The Algerian company also operates the 1,604-teu Mario A (built 2007), which is owned by Turkey’s Arkas Holding.

Cosmoship is maintaining its exposure to the feeder containership sector. It has kept the other two containerships it ordered at Guangzhou Wenchong in 2017 — the 1,528-teu FSL Kelang and FSL Singapore (both built 2020), which are believed to be on five-year time charters.

Last month, the company booked yet another pair of feeder containership newbuildings at the Chinese yard, bringing the tally of its vessels under construction there to four — all due for delivery in 2023.

Cosmoship has been active on the dry bulk side as well. TradeWinds reported last month that Savvas agreed to sell the 57,000-dwt supramaxes Legacy (built 2011) and Olympic (built 2012) to Chinese interests at a profit margin of nearly 60%, compared to the money he spent to buy them in October 2020.

Market and broking sources in Athens now say the company pulled off a similar trick with the 32,800-dwt handysize Lady C (built 2011). An unidentified Chinese player is said to be paying between $9.4m and $9.5m for the vessel.

Cosmoship acquired the Lady C in late 2019, when it was trading at Thurgau.

Savvas is believed to have spent between $6.6m and $7m on the ship then.