Eagle Bulk Shipping has found a buyer for one of two supramaxes it has been circulating in sale-and-purchase markets, as part of a continuing fleet renewal push.
The New York-listed shipowner, which is in the process of being taken over by larger Star Bulk Carriers, has committed the 56,000-dwt Stellar Eagle (built 2009) to a deal that would see the ship go to an unnamed European buyer, a market source said.
The ship is poised to change hands for $14.7m, the source added.
The scrubber-fitted ship is one of two bulkers that the Gary Vogel-led company, a specialist in midsize dry bulk vessels, had placed on the sales block, as TradeWinds reported in January.
Eagle Bulk has a policy of not commenting on reports of such transactions.
The 56,000-dwt Crested Eagle (built 2009) is still being marketed for sale, the source said.
Both ships are due for a special survey, and the sale effort is consistent with the shipowner’s strategy of selling its older vessels ahead of such dry-dockings, while also acquiring ultramax bulkers that are younger than five years old.
Broker reports in January had listed the ships as sold, which turned out not to be the case. But the true sale price for the Stellar Eagle is in line with the $14.5m price tag in those reports.
And while it is slightly below VesselsValue’s estimated price of $15.4m for the vessel, selling before a special survey is likely to have saved Eagle Bulk significant expense.
Bulker values have been on the rise in an active S&P market, with the VesselsValue index for the sector rising 1.6% over the last month and 10.7% in the last year.