Greek shipowner Times Navigation has capitalised on firm bulker values with a sale of yet another ship.
Managers at the John Karageorgis-led company confirmed the company has divested the Nan Trieu Shipbuilding-constructed, 53,000-dwt Sophia K (built 2008).
According to European brokers, the vessel has gone to another Greek owner for $11.5m.
This isn't the only vessel Times Navigation has offloaded recently. Back in April, the company divested the 57,000-dwt supramax Archagelos Gabriel (built 2011) to undisclosed buyers for $13.2m.
Equasis lists the Archagelos Gabriel currently as under management of Greek peers Dominion International.
There were also broker reports recently about Times Navigation selling a third vessel, the Cosco Zhoushan-built 56,000-dwt Panagia Korona (built 2012). Times Navigation owner John Karageorgis, however, has already dismissed that information as inaccurate.
The supramax bulker market is among the most liquid of all sale-and-purchase sectors and hardly a week goes by without transactions.
Interests linked to China's Wei Kang Shipping have emerged as buyers of the 56,800-dwt Surabhi (renamed Tian He, built 2010), which Greece's TST International sold last month for close to $13m.
TST had purchased the ship in early 2020 at a much lower $9.3m from Norwegian interests.
As TradeWinds already reported, Greece's Byzantine Maritime is being linked to a sale of the IHI-built, 56,000-dwt Lara (built 2008) which has been reportedly sold to a Greek peer for $15.3m.
In March, Byzantine reportedly sold the 56,000-dwt bulker Yvonne (built 2008) for $12.1m. The ship emerged last month as West Wind in the fleet of Greece-based LA Maritime.
Singapore-based Kumiai Navigation is believed to have offloaded the 58,000-dwt Bulk Costa Rica (built 2012), possibly to Greeks, for $18.6m. Kumiai did not respond to a request for comment.
Brokers also said that Japan's Meiji Shipping has sold the Mitsui-built, 56,000-dwt Centenario Forza (built 2012) for $18.5m, but this could not be confirmed.
This article was updated since original publication
