Norwegian owner JJ Ugland looks set to capitalise on strong bulk carrier values by selling one of its newer vessels.
Brokers report that the Tsuneishi Cebu-built 58,000-built Carmencita (built 2009) has been sold for a healthy price of $21m.
Chief executive Oystein Beisland confirmed that the company is testing the market, but insisted that no deal had been concluded.
In February this year, JJ Ugland was considering selling the bulker for in excess of $12m, according to brokers.
Last October, VesselsValue calculated the Carmencita was worth just $9.5m.
JJ Ugland traditionally sells ships only when they are older.
In July last year, it sold the 52,300-dwt bulker sisterships Rosita (built 2004) and Favorita (built 2005) to Worldera Corp of Singapore for $13.8m en bloc.
Grimstad-based JJ Ugland is owned by Knut Nikolai Ugland and operates a fleet of 14 supramax and ultramax bulkers.
The firm logged a pre-tax loss of NOK 36m ($4.3m) last year. It is set for a much better year in 2021 and beyond, as the vessels are not locked into long-term charters, so will benefit from the hot spot market.
Knut Nikolai inherited the JJ Ugland Group from his grandfather, the late Johan Jorgen Ugland.
Until Knut Nikolai turned 35 this month, the assets were managed by an advisory board led by Beisland, but he has now taken the reigns.
Knut Nikolai recently told the Norwegian daily Dagens Næringsliv that he will always doubt whether he is qualified enough to head the firm.
