John Fredriksen-controlled dry bulk company Golden Ocean Group is reportedly selling three of its elderly panamax bulkers.
Brokers in Greece reported that the company has sold two ice-class vessels to undisclosed buyers. The 75,000-dwt Golden Opportunity fetched $8.5m, while the 75,000-dwt Golden Saguenay (both built 2008) has changed hands for $9.2m.
Some reports indicated that a Greek buyer took the two ships in an en-bloc deal.
Meanwhile, brokers said Golden Ocean has sold the 76,000-dwt Golden Shea (built 2007) for $10.8m.
In December, a sale of the Golden Shea had been reported to be in the works at a significantly lower price of $9.8m.
Golden Ocean Management chief executive Ulrik Andersen was unwilling to confirm the sales or provide further details.
“Unfortunately, we cannot comment on specific transactions before they are publicly announced,” he told TradeWinds.
There could be further scope for sales if Golden Ocean's latest deals are part of a fleet renewal effort. The Oslo-based company's 29 panamaxes are on average between 12 and 13 years old.
More than 30 panamax bulkers of 10 years of age or older have been sold in the last three months, according to shipping data provider VesselsValue.
If finalised, the transactions will mark be first panamax sales for Golden Ocean in almost three years.
Monitoring the market
Andersen added that, generally, New York and Oslo-listed Golden Ocean is always monitoring the sale-and-purchase market for attractive opportunities.
“And we have a strategy of focusing on modern, low emission and fuel-efficient tonnage,” he said.
Andersen claimed there is no doubt that the prices for dry bulk ships are firming.
“Global GDP growth is returning and coupled with the lowest orderbook in 30 years, we expect the values to continue trending up this year,” he told TradeWinds.
Golden Ocean is a leading dry bulk company with 46 capesizes and three ultramax bulkers in addition to the panamaxes.
The three ships have been in Golden Ocean's fleet since they were ordered.
The Golden Saguenay was the first vessel ever delivered by now defunct Jiangsu Rongsheng Heavy Industries. Along with the sistership Golden Opportunity, it was part of an FS Ice Class 1C quartet that Golden Ocean ordered there in 2006 as Rongsheng was beginning its meteoric growth to become China's largest private shipbuilder.
The Golden Shea, the third ship in the latest sales, was constructed at Japan's Namura Shipbuilding to conventional specifications.
