Greek owner Golden Union Shipping has put a Japanese-built panamax up for sale.
The 76,600-dwt Imperial Rose (built 2008) could become the first vessel that the company has sold on the secondhand market since July 2018. It could probably fetch close to $18m, which would mean a solid profit for the Theodore Veniamis-led company.
The Imperial Rose was bought by Golden Union at the bottom of the market in July 2016 as Ocean Rose for $9.4m.
Golden Union did not respond to a request for comment.
The company is a pure bulker owner listed with 49 vessels, including 24 capesizes and 18 panamaxes.
It has steadily been expanding its fleet. In an off-market deal in January this year, it bought the Koyo Dockyard-built, 180,600-dwt KM Kobe (built 2011) as the market began taking off.
It probably paid $20m for the bulker, which is now in the Golden Union fleet as Capetan Ioannis. Today it is worth more than $31m, according to VesselsValue.
Last year, the owner was primarily targeting capesize investments. In December, it bought the 206,300-dwt MG Courage (built 2007) for $14.6m.
Renamed Crassier, the vessel is now worth close to $27m.
Among other well-timed capesize investments last year, the company bought the 180,200-dwt Mineral Hokkaido (built 2008) for $14.6m. It is now probably worth $23.5m.
In October, it bought the 180,100-dwt Royal Accord (built 2009), paying $17.8m.
Renamed Royal Iole, it is estimated to be worth $26m.
