Restructuring Singapore-listed Noble Group has confirmed the disposal of a kamsarmax bulker for a tidy profit.
It announced a deal to sell the 81,000-dwt Ocean Vision (built 2015) to Transmed Shipping in March for $24m.
The transaction was completed on Wednesday.
Net proceeds will be $8.2m.
Last week, Noble insisted that its decision to sell four kamsarmax bulkers in total does not mark its exit from shipowning, but a shift to an asset-light strategy.
It added that it has neither vessel acquisitions nor sales planned once the quartet has been sold.
Noble also put the 82,000-dwt Ocean Integrity and Ocean Forte (both built 2015) and the Ocean Ambition (built 2014) on the sales block late last year.
Noble head of chartering Michael Nagler told TradeWinds the decision to sell the kamsarmaxes was strategic. The company, he claimed, was not shedding ships because it desperately needed cash.
“We have a lot of kamsarmaxes on time charter or long-term period charters. Our need is covered, so we don’t need to own any ourselves,” he explained.
No restructuring deal yet
Noble also denied news reports it had reached a restructuring agreement with holders of its perpetual capital securities.
"The company continues to engage in discussions with stakeholders...including certain of the company’s senior creditors, shareholders and holders of the perpetual securities," it said.
"However the company has not concluded any agreement with any holders of the perpetual securities in connection with the proposed restructuring."
