Aroania Maritime of Greece is set to dispose of one of its four vintage bulkers.
European shipbroking sources say the 42,000-dwt Avlemon (built 1997) can be inspected at Zhoushan, China.
The 20-year-old, Brodosplit-built ship could likely fetch some $4m to $4.5m, which means it has been quite a profitable investment for Aroania. The company bought it as Don Frane Bulic in April 2015 for just $3.5m.
A company executive was not immediately available to comment on the reports.
The sale of the Avlemon will be the first move in the sale-and-purchase market for low key Aroania this year. In November last year, it bought the 28,400-dwt bulker Anastasia K (renamed Maria L, built 1998) for $2.65m. The Hakodate-built ship is today likely worth some $3.5m.
Following the Avlemon sale, the company will be left with two 1990s-built handysizes plus the 3,800-dwt multipurpose ship Pioneer (built 1997).
Aroania last sold ships in January 2015, when it offloaded the 33,000-dwt bulker Voyager (built 1985) for $3m in a demolition sale. The ship was not a profitable investment, as it had been purchased in November 2010 for $8.5m.
