Greece's Sea Globe Management & Trading has scored a significant profit on the sale of two kamsarmax bulkers it bought at the bottom of the market almost five years ago.
Brokers in Europe and in the US said the Laliotis Group-controlled shipowner has sold the 80,000-dwt Globe Electra and Globe Danae (both built 2010) to an undisclosed Greek buyer for $15.75m each.
Athens-based Sea Globe paid only $9.25m for each of the STX Offshore & Shipbuilding-constructed vessels at an auction in March 2016. Previously named Sadan K and Zeynep K, the ships had been in the fleet of the Turkey's Kaptanoglu group.
Both vessels passed special survey last year.
The Globe Danae was previously reported close to being sold in March 2018, then for $18m, but the deal did not finalise.
Sea Globe, which also has four supramaxes, is the bulker arm of the Laliotis shipping group. The outfit returned to the dry bulk market in 2015 when it bought its first supramax, the 58,000-dwt Nord Liberty (built 2008), for about $12.8m.
The Laliotis Group is also listed with 17 tankers — five aframaxes, two panamaxes and 10 MR tankers. They are on average 14 years old.
The company's latest deal comes as several bulker owners have taken the opportunity to lock in profits on their ships during the booming market. Safe Bulkers, Eneti and Nissen Kaiun have also disposed of bulker tonnage.
TradeWinds reported on Thursday that Cido Shipping is exiting the kamsarmax bulker segment through the sale of three vessels — the 82,000-dwt Fortune Iris (built 2009), Fortune Sunny and Fortune Rainbow (both built 2008) — for $14m each.
