Following up on a supramax sale to Chinese players last month, Greece's AM Nomikos is lining up further ship disposals to benefit from high ship values.

Ship management sources in Athens and London said the company is in talks to shed the 56,900-dwt supramax Sophia N (built 2009) for about $17.5m.

Furthermore, the company has circulated a younger ultramax for sale, the 61,600-dwt Noni (built 2015).

A deal for these two ships would come hot on the heels of the company's October sale of the 53,400-dwt geared supramax Tesoro (built 2007) to Jinhui Shipping & Transportation for $15.75m.

Previously, in August, the company sold the IHI-built, 55,700-dwt Dory (built 2010) for $17.5m to unnamed Greek interests.

AM Nomikos is a busy player in the sale-and-purchase market.

The company was firmly on the buying side in the period between August 2019 and March 2021, during which it acquired eight bulkers, according to available data, almost all supramaxes.

AM Nomikos has changed tack since, with the sale of the Dory marking its first disposal in nearly two years.

Smaller bulkers in the limelight

Brokers expect the busy sale activity in bulker markets to continue, especially for smaller ships after the recent setbacks suffered in capesize freight rates.

"As the freight market has entered a correction mode, it is expected that smaller units will continue being at the centre of attention amongst buyers," Athens-based Allied Shipbrokers said in a report on 3 November.

Analysts at Greek peers Doric expressed similar thoughts: "There seems to be stable interest in the mid-aged to older ships, as we are seeing very strong numbers for early 2000-built supras," Doric said in a weekly report on 29 October.

"The market's resilient run seems to have made believers out of those that were sitting on the sidelines, as more and more owners are reaching into their pockets," Doric added.

In other recent Greek supramax sales, Seadar Shipmanagement is said to have found buyers for the 52,200-dwt Lucky Sea (built 2005) for a little above $14m.

Minerva Ship Management has reportedly found Asian buyers for the 56,800-dwt Mariner (built 2009) for $16.75m.

The article was amended after publication to correct the price at which the Sophia N is negotiated