Norway's JJ Ugland Group is poised to earn a firm price for its two oldest supramax bulkers, TradeWinds understands.
The Tsuneishi Cebu-built, 52,000-dwt Favorita (built 2005) and sistership Rosita (built 2004) are reportedly tied up to an undisclosed buyer in an en bloc deal for $13.8m in total.
The Rosita passed special survey in June last year, while the Favorita is due in this coming November.
Oystein Beisland, chief executive of JJ Ugland, declined to comment on the sales report.
Price assessment service VesselsValue estimates the two ships are worth $12.1m in total. European brokers claim it is not surprising that the Ugland ships are fetching firm prices as they are known for being built to high specifications.
A sister vessel, the Vigorous ( built 2005), has also been reported sold by Blue Wall Shipping of Greece for $6.45m to an undisclosed buyer.
Fleet-renewal efforts
Grimstad-based Ugland is in the process of renewing its fleet, and last year sold the 52,000-dwt Fermita (built 2001) to Chinese interests for $6.5m.
Last year, the company took delivery of two ultramax newbuildings from Sanoyas Shipbuilding, and has taken delivery of another one already this month.
JJ Ugland has a fleet of 17 supramax and ultramax bulkers. The group also owns the 125,000-dwt shuttle tanker Vinland (built 2000), which is on charter to Equinor, plus offshore vessels and barges. It also owns local shipyard Nymo.
The diversified company is owned by Knut Nikolai Ugland, 33, who inherited the company after the death of his grandfather, Johan Jorgen Ugland, in 2010.
The intention is that Knut Nikolai will take over running the business when he turns 35.
